Applied Therapeutics, Inc. (NASDAQ:APLT) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Applied Therapeutics, Inc. (NASDAQ:APLT) have received an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $6.10.

Several analysts have recently commented on the stock. UBS Group reiterated a “neutral” rating and issued a $2.00 target price (down previously from $13.00) on shares of Applied Therapeutics in a report on Monday, December 2nd. Citigroup lowered their target price on Applied Therapeutics from $13.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Robert W. Baird dropped their price target 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. William Blair cut Applied Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday, December 23rd. Finally, Royal Bank of Canada lowered their target price on shares of Applied Therapeutics from $4.00 to $1.50 and set a “sector perform” rating on the stock in a research note on Friday, December 20th.

Applied Therapeutics Trading Down 2.2 %

Shares of Applied Therapeutics stock opened at $0.51 on Thursday. The stock has a fifty day simple moving average of $0.58 and a 200 day simple moving average of $4.07. Applied Therapeutics has a 12-month low of $0.43 and a 12-month high of $10.62. The company has a market capitalization of $59.28 million, a P/E ratio of -0.32 and a beta of 1.88.

Hedge Funds Weigh In On Applied Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of APLT. Ground Swell Capital LLC purchased a new stake in Applied Therapeutics in the fourth quarter worth approximately $27,000. Toronto Dominion Bank bought a new stake in shares of Applied Therapeutics in the 4th quarter worth approximately $27,000. SG Americas Securities LLC boosted its stake in shares of Applied Therapeutics by 169.0% in the 4th quarter. SG Americas Securities LLC now owns 40,747 shares of the company’s stock valued at $35,000 after purchasing an additional 25,601 shares in the last quarter. Private Advisor Group LLC bought a new position in shares of Applied Therapeutics during the 4th quarter valued at $35,000. Finally, Intech Investment Management LLC raised its position in Applied Therapeutics by 176.1% in the 4th quarter. Intech Investment Management LLC now owns 52,631 shares of the company’s stock worth $45,000 after purchasing an additional 33,567 shares during the period. 98.31% of the stock is currently owned by hedge funds and other institutional investors.

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.