Applied Therapeutics (NASDAQ:APLT) PT Raised to $11.00

Applied Therapeutics (NASDAQ:APLT) had its target price lifted by Citigroup from $8.00 to $11.00 in a research report report published on Thursday morning, Benzinga reports. Citigroup currently has a buy rating on the stock.

APLT has been the topic of several other reports. Royal Bank of Canada reiterated an outperform rating and set a $12.00 price target on shares of Applied Therapeutics in a research report on Wednesday, July 17th. William Blair raised shares of Applied Therapeutics to a strong-buy rating in a report on Friday, August 30th. Finally, Leerink Partners increased their target price on shares of Applied Therapeutics from $11.00 to $14.00 and gave the stock an outperform rating in a research note on Thursday. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Buy and an average price target of $12.50.

Applied Therapeutics Trading Down 3.8 %

Applied Therapeutics stock opened at $7.70 on Thursday. The firm has a 50 day simple moving average of $5.81 and a 200 day simple moving average of $5.32. Applied Therapeutics has a 1-year low of $1.79 and a 1-year high of $9.39. The firm has a market capitalization of $879.86 million, a price-to-earnings ratio of -4.18 and a beta of 2.03.

Applied Therapeutics (NASDAQ:APLT) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.03). The firm had revenue of $0.14 million during the quarter, compared to the consensus estimate of $10.00 million. On average, equities research analysts forecast that Applied Therapeutics will post -0.48 EPS for the current year.

Insider Transactions at Applied Therapeutics

In related news, CEO Shoshana Shendelman sold 119,591 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $5.93, for a total value of $709,174.63. Following the sale, the chief executive officer now directly owns 4,690,839 shares of the company’s stock, valued at $27,816,675.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Algert Global LLC purchased a new position in shares of Applied Therapeutics in the 2nd quarter worth about $110,000. Frazier Life Sciences Management L.P. lifted its position in Applied Therapeutics by 17.1% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 2,286,135 shares of the company’s stock worth $10,676,000 after buying an additional 333,278 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Applied Therapeutics in the second quarter worth approximately $172,000. Sei Investments Co. purchased a new stake in Applied Therapeutics in the second quarter worth approximately $535,000. Finally, Victory Capital Management Inc. bought a new position in Applied Therapeutics during the second quarter valued at approximately $54,000. 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.