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

Shares of Applied Therapeutics, Inc. (NASDAQ:APLT) have been assigned a consensus rating of “Buy” from the six brokerages that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $12.50.

A number of analysts have issued reports on the company. William Blair raised Applied Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Leerink Partners boosted their target price on shares of Applied Therapeutics from $11.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. Royal Bank of Canada reissued an “outperform” rating and issued a $12.00 price target on shares of Applied Therapeutics in a report on Wednesday, July 17th. Finally, Citigroup raised their price target on shares of Applied Therapeutics from $8.00 to $11.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th.

Insiders Place Their Bets

In other news, CEO Shoshana Shendelman sold 119,591 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now owns 4,690,839 shares in the company, valued at approximately $27,816,675.27. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Applied Therapeutics

Several large investors have recently modified their holdings of the stock. Janus Henderson Group PLC lifted its position in shares of Applied Therapeutics by 198.6% during the 1st quarter. Janus Henderson Group PLC now owns 6,414,642 shares of the company’s stock worth $43,555,000 after buying an additional 4,266,179 shares during the period. StemPoint Capital LP raised its stake in Applied Therapeutics by 122.3% during the first quarter. StemPoint Capital LP now owns 2,017,016 shares of the company’s stock worth $13,716,000 after acquiring an additional 1,109,864 shares in the last quarter. Artal Group S.A. bought a new position in shares of Applied Therapeutics during the first quarter valued at $6,865,000. Propel Bio Management LLC lifted its holdings in shares of Applied Therapeutics by 13.7% during the first quarter. Propel Bio Management LLC now owns 6,111,906 shares of the company’s stock valued at $41,561,000 after acquiring an additional 736,924 shares during the period. Finally, Peregrine Capital Management LLC acquired a new stake in shares of Applied Therapeutics in the 2nd quarter valued at $3,414,000. 98.31% of the stock is currently owned by institutional investors.

Applied Therapeutics Stock Up 3.8 %

NASDAQ:APLT opened at $8.96 on Monday. The company’s 50 day moving average is $6.90 and its 200-day moving average is $5.59. Applied Therapeutics has a 12 month low of $1.79 and a 12 month high of $9.39. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -4.87 and a beta of 2.04.

Applied Therapeutics (NASDAQ:APLT) last released its earnings results on Wednesday, August 7th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03). The business had revenue of $0.14 million for the quarter, compared to analysts’ expectations of $10.00 million. Research analysts predict that Applied Therapeutics will post -0.48 EPS for the current fiscal year.

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.