Applied Therapeutics, Inc. (NASDAQ:APLT - Get Free Report) was down 4.9% during trading on Friday . The company traded as low as $8.42 and last traded at $8.48. Approximately 1,342,143 shares were traded during trading, a decline of 27% from the average daily volume of 1,832,952 shares. The stock had previously closed at $8.92.
Analyst Ratings Changes
Several brokerages recently weighed in on APLT. Leerink Partners boosted their price target on shares of Applied Therapeutics from $11.00 to $14.00 and gave the stock an "outperform" rating in a research report on Thursday, September 19th. Citigroup lifted their price objective on shares of Applied Therapeutics from $8.00 to $11.00 and gave the stock a "buy" rating in a research note on Thursday, September 19th. Royal Bank of Canada restated an "outperform" rating and set a $12.00 target price on shares of Applied Therapeutics in a research report on Wednesday, July 17th. Finally, William Blair upgraded Applied Therapeutics to a "strong-buy" rating in a research report on Friday, August 30th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $12.50.
Get Our Latest Stock Analysis on Applied Therapeutics
Applied Therapeutics Price Performance
The firm has a market cap of $963.27 million, a P/E ratio of -4.58 and a beta of 2.04. The stock's 50-day simple moving average is $7.19 and its two-hundred day simple moving average is $5.69.
Applied Therapeutics (NASDAQ:APLT - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.03). The company had revenue of $0.14 million for the quarter, compared to analysts' expectations of $10.00 million. As a group, sell-side analysts expect that Applied Therapeutics, Inc. will post -0.48 earnings per share for the current year.
Insider Activity
In related news, CEO Shoshana Shendelman sold 300,000 shares of the firm's stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $5.98, for a total transaction of $1,794,000.00. Following the completion of the sale, the chief executive officer now directly owns 5,167,853 shares of the company's stock, valued at approximately $30,903,760.94. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.60% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC grew its stake in Applied Therapeutics by 198.6% in the first quarter. Janus Henderson Group PLC now owns 6,414,642 shares of the company's stock worth $43,555,000 after purchasing an additional 4,266,179 shares in the last quarter. Propel Bio Management LLC grew its position in shares of Applied Therapeutics by 13.7% during the 1st quarter. Propel Bio Management LLC now owns 6,111,906 shares of the company's stock worth $41,561,000 after buying an additional 736,924 shares in the last quarter. Knoll Capital Management LLC grew its position in shares of Applied Therapeutics by 1.8% during the 1st quarter. Knoll Capital Management LLC now owns 5,574,687 shares of the company's stock worth $37,908,000 after buying an additional 100,000 shares in the last quarter. Frazier Life Sciences Management L.P. increased its stake in shares of Applied Therapeutics by 17.1% during the second quarter. Frazier Life Sciences Management L.P. now owns 2,286,135 shares of the company's stock valued at $10,676,000 after buying an additional 333,278 shares during the period. Finally, StemPoint Capital LP raised its holdings in shares of Applied Therapeutics by 122.3% in the first quarter. StemPoint Capital LP now owns 2,017,016 shares of the company's stock valued at $13,716,000 after acquiring an additional 1,109,864 shares in the last quarter. Hedge funds and other institutional investors own 98.31% of the company's stock.
About Applied Therapeutics
(
Get Free Report)
Applied Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the development of a pipeline of novel product candidates against validated molecular targets in indications of high unmet medical need in the United States. The company's lead product candidate is AT-007 (also called govorestat) that has completed phase 3 for the treatment of galactosemia in healthy volunteers and adults, in pediatric clinical study for the treatment of galactosemia in kids, for treating enzyme sorbitol dehydrogenase, and for the treatment of phosphomannomutase enzyme-CDG.
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