Analysts Set Applied Therapeutics, Inc. (NASDAQ:APLT) Price Target at $12.50

Applied Therapeutics, Inc. (NASDAQ:APLT) has earned an average recommendation of “Buy” from the six analysts that are presently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $12.50.

APLT has been the topic of several recent research reports. 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. William Blair raised Applied Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. Finally, Citigroup boosted their price objective on Applied Therapeutics from $8.00 to $11.00 and gave the company a “buy” rating in a report on Thursday, September 19th.

Applied Therapeutics Stock Up 1.0 %

APLT opened at $9.01 on Friday. The company has a market cap of $1.05 billion, a P/E ratio of -5.46 and a beta of 2.01. The firm’s 50-day moving average price is $8.06 and its 200-day moving average price is $6.11. Applied Therapeutics has a 52-week low of $1.79 and a 52-week high of $10.62.

Hedge Funds Weigh In On Applied Therapeutics

A number of hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. acquired a new stake in shares of Applied Therapeutics in the second quarter valued at about $54,000. Victory Capital Management Inc. purchased a new stake in shares of Applied Therapeutics in the second quarter valued at approximately $54,000. SG Americas Securities LLC purchased a new stake in Applied Therapeutics in the 2nd quarter valued at $87,000. Algert Global LLC purchased a new stake in shares of Applied Therapeutics in the second quarter valued at about $110,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Applied Therapeutics during the 3rd quarter worth approximately $162,000. Hedge funds and other 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.