Applied Therapeutics (NASDAQ:APLT) Rating Lowered to “Market Perform” at William Blair

Applied Therapeutics (NASDAQ:APLT) was downgraded by analysts at William Blair from an “outperform” rating to a “market perform” rating in a research report issued on Monday, MarketBeat Ratings reports.

A number of other analysts also recently issued reports on APLT. Leerink Partners lifted their target price on Applied Therapeutics from $11.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th. Royal Bank of Canada dropped their price objective on Applied Therapeutics from $4.00 to $1.50 and set a “sector perform” rating on the stock in a research note on Friday. UBS Group restated a “neutral” rating and set a $2.00 target price (down from $13.00) on shares of Applied Therapeutics in a report on Monday, December 2nd. Citigroup cut 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, Robert W. Baird lowered their price objective on shares of Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating on the stock in a research note on Friday, November 29th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.10.

Applied Therapeutics Trading Down 13.7 %

Shares of APLT stock opened at $0.88 on Monday. The firm’s fifty day moving average price is $6.63 and its two-hundred day moving average price is $6.15. Applied Therapeutics has a 1 year low of $0.84 and a 1 year high of $10.62. The firm has a market capitalization of $102.40 million, a P/E ratio of -0.55 and a beta of 1.76.

Institutional Trading of Applied Therapeutics

A number of hedge funds have recently modified their holdings of APLT. Janus Henderson Group PLC raised its holdings in Applied Therapeutics by 37.8% in the 3rd quarter. Janus Henderson Group PLC now owns 10,541,528 shares of the company’s stock valued at $89,656,000 after acquiring an additional 2,893,323 shares during the period. State Street Corp increased its stake in shares of Applied Therapeutics by 123.1% during the third quarter. State Street Corp now owns 3,694,607 shares of the company’s stock worth $31,404,000 after purchasing an additional 2,038,724 shares during the period. Peregrine Capital Management LLC acquired a new stake in Applied Therapeutics during the 2nd quarter worth approximately $3,414,000. Ally Bridge Group NY LLC bought a new stake in Applied Therapeutics in the 3rd quarter valued at $5,256,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Applied Therapeutics by 165.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 735,217 shares of the company’s stock valued at $6,249,000 after buying an additional 457,940 shares in the last quarter. Institutional investors and hedge funds 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.