Royal Bank of Canada Issues Pessimistic Forecast for Applied Therapeutics (NASDAQ:APLT) Stock Price

Applied Therapeutics (NASDAQ:APLT - Free Report) had its price objective trimmed by Royal Bank of Canada from $4.00 to $1.50 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

Several other equities analysts have also issued reports on the company. Robert W. Baird dropped their price target on Applied Therapeutics from $14.00 to $5.00 and set an "outperform" rating on the stock in a research note on Friday, November 29th. UBS Group reiterated a "neutral" rating and set a $2.00 target price (down previously from $13.00) on shares of Applied Therapeutics in a research report on Monday, December 2nd. William Blair upgraded shares of Applied Therapeutics to a "strong-buy" rating in a report on Thursday, November 28th. Citigroup decreased their price target on shares of Applied Therapeutics from $13.00 to $8.00 and set a "buy" rating for the company in a research note on Friday, November 29th. Finally, Leerink Partners upped their price objective on shares of Applied Therapeutics from $11.00 to $14.00 and gave the company an "outperform" rating in a report on Thursday, September 19th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $6.10.

Applied Therapeutics Stock Performance

Shares of NASDAQ:APLT traded down $0.14 during midday trading on Friday, reaching $0.88. The company's stock had a trading volume of 14,114,052 shares, compared to its average volume of 2,664,292. Applied Therapeutics has a fifty-two week low of $0.84 and a fifty-two week high of $10.62. The firm has a 50 day moving average price of $6.63 and a two-hundred day moving average price of $6.12. The firm has a market capitalization of $102.40 million, a price-to-earnings ratio of -0.55 and a beta of 1.76.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. bought a new position in Applied Therapeutics in the 2nd quarter valued at about $54,000. Principal Financial Group Inc. bought a new stake in Applied Therapeutics during the second quarter worth $54,000. Y Intercept Hong Kong Ltd purchased a new stake in Applied Therapeutics in the 3rd quarter valued at $149,000. SG Americas Securities LLC bought a new position in Applied Therapeutics during the 2nd quarter valued at $87,000. Finally, Intech Investment Management LLC bought a new position in Applied Therapeutics during the 3rd quarter valued at $162,000. 98.31% of the stock is currently owned by institutional investors and hedge funds.

About Applied Therapeutics

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.