Applied Therapeutics (NASDAQ:APLT) Receives Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Applied Therapeutics (NASDAQ:APLT) in a research note issued to investors on Wednesday, Benzinga reports. Royal Bank of Canada currently has a $12.00 price objective on the stock.

Applied Therapeutics Trading Down 2.3 %

NASDAQ:APLT opened at $5.14 on Wednesday. Applied Therapeutics has a 1 year low of $1.18 and a 1 year high of $9.39. The firm’s fifty day simple moving average is $4.66 and its 200 day simple moving average is $4.66. The firm has a market capitalization of $587.33 million, a PE ratio of -2.79 and a beta of 1.99.

Applied Therapeutics (NASDAQ:APLT) last posted its earnings results on Thursday, May 9th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.09). The company had revenue of $0.19 million for the quarter, compared to analyst estimates of $10.00 million. As a group, analysts anticipate that Applied Therapeutics will post -0.59 EPS for the current fiscal year.

Insider Buying and Selling at Applied Therapeutics

In other Applied Therapeutics news, CFO Leslie D. Funtleyder sold 16,980 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $4.32, for a total value of $73,353.60. Following the completion of the sale, the chief financial officer now directly owns 291,441 shares of the company’s stock, valued at approximately $1,259,025.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Applied Therapeutics news, CFO Leslie D. Funtleyder sold 16,980 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $4.32, for a total value of $73,353.60. Following the completion of the sale, the chief financial officer now directly owns 291,441 shares of the company’s stock, valued at approximately $1,259,025.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $4.21, for a total transaction of $631,500.00. Following the completion of the sale, the insider now directly owns 6,005,077 shares of the company’s stock, valued at $25,281,374.17. The disclosure for this sale can be found here. Insiders sold a total of 250,778 shares of company stock valued at $1,066,861 in the last ninety days. Company insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Applied Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in APLT. Vontobel Holding Ltd. bought a new position in shares of Applied Therapeutics during the 4th quarter worth about $34,000. Jump Financial LLC bought a new position in shares of Applied Therapeutics during the 4th quarter worth about $81,000. SG Americas Securities LLC bought a new position in shares of Applied Therapeutics during the 2nd quarter worth about $87,000. Citigroup Inc. bought a new position in shares of Applied Therapeutics during the 3rd quarter worth about $164,000. Finally, Denali Advisors LLC bought a new position in shares of Applied Therapeutics during the 1st quarter worth about $228,000. 98.31% of the stock is owned by institutional investors.

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.