Applied Therapeutics (NASDAQ:APLT) Rating Lowered to "Sector Perform" at Royal Bank of Canada

Royal Bank of Canada cut shares of Applied Therapeutics (NASDAQ:APLT - Free Report) from an outperform rating to a sector perform rating in a report published on Friday morning, MarketBeat reports. Royal Bank of Canada currently has $4.00 price objective on the stock, down from their previous price objective of $12.00.

APLT has been the subject of a number of other research reports. Citigroup boosted their price objective on shares of Applied Therapeutics from $8.00 to $11.00 and gave the company a "buy" rating in a report on Thursday, September 19th. Leerink Partners upped their price objective on Applied Therapeutics from $11.00 to $14.00 and gave the stock an "outperform" rating in a research report on Thursday, September 19th. Finally, William Blair upgraded Applied Therapeutics to a "strong-buy" rating in a research report on Friday, August 30th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $9.40.

Applied Therapeutics Stock Performance

Shares of APLT stock traded down $1.64 during midday trading on Friday, hitting $8.57. 15,333,985 shares of the company were exchanged, compared to its average volume of 2,687,166. Applied Therapeutics has a 52 week low of $1.82 and a 52 week high of $10.62. The firm has a market capitalization of $997.21 million, a P/E ratio of -5.32 and a beta of 2.01. The firm's 50 day moving average price is $8.82 and its two-hundred day moving average price is $6.45.

Institutional Trading of Applied Therapeutics

Several institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. acquired a new stake in Applied Therapeutics during the second quarter worth approximately $54,000. Principal Financial Group Inc. acquired a new position in shares of Applied Therapeutics during the second quarter worth approximately $54,000. Y Intercept Hong Kong Ltd bought a new position in shares of Applied Therapeutics in the 3rd quarter worth $149,000. SG Americas Securities LLC acquired a new stake in Applied Therapeutics in the 2nd quarter valued at $87,000. Finally, Intech Investment Management LLC acquired a new position in Applied Therapeutics during the third quarter worth $162,000. Institutional investors own 98.31% of the company's stock.

Applied Therapeutics Company Profile

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.