Applied Therapeutics Inc. (NASDAQ:APLT) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Applied Therapeutics Inc. (NASDAQ:APLT) received a consensus rating of “Moderate Buy” from six research firms, with three analysts recommending a hold and three a buy.
• The average 12-month price target for APLT shares is $6.10, significantly higher than the current opening price of $0.42.
• A number of large investors have increased their holdings in Applied Therapeutics, with Vestal Point Capital LP boosting its position by 904.4% in the fourth quarter.

Shares of Applied Therapeutics Inc. (NASDAQ:APLT - Get Free Report) have been given an average rating of "Moderate Buy" by the six research firms that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $6.10.

Separately, Wall Street Zen upgraded Applied Therapeutics to a "sell" rating in a research report on Saturday, July 26th.

Applied Therapeutics Price Performance

Shares of NASDAQ APLT opened at $0.42 on Tuesday. The business's 50 day moving average is $0.46 and its two-hundred day moving average is $0.43. Applied Therapeutics has a 1-year low of $0.30 and a 1-year high of $10.62. The stock has a market capitalization of $59.91 million, a P/E ratio of -0.92 and a beta of 2.06.

Applied Therapeutics (NASDAQ:APLT - Get Free Report) last announced its earnings results on Wednesday, August 13th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.02. As a group, equities research analysts anticipate that Applied Therapeutics will post -0.65 earnings per share for the current fiscal year.

Institutional Trading of Applied Therapeutics

A number of large investors have recently modified their holdings of the company. Vestal Point Capital LP boosted its holdings in shares of Applied Therapeutics by 904.4% in the fourth quarter. Vestal Point Capital LP now owns 11,500,000 shares of the company's stock valued at $9,846,000 after purchasing an additional 10,355,000 shares during the period. Propel Bio Management LLC boosted its holdings in shares of Applied Therapeutics by 17.4% in the first quarter. Propel Bio Management LLC now owns 11,285,420 shares of the company's stock valued at $5,517,000 after purchasing an additional 1,670,000 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Applied Therapeutics by 91.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 10,380,590 shares of the company's stock valued at $5,076,000 after purchasing an additional 4,959,670 shares during the period. VR Adviser LLC boosted its holdings in shares of Applied Therapeutics by 1.7% in the fourth quarter. VR Adviser LLC now owns 9,990,591 shares of the company's stock valued at $8,554,000 after purchasing an additional 165,591 shares during the period. Finally, Knoll Capital Management LLC boosted its holdings in shares of Applied Therapeutics by 4.0% in the fourth quarter. Knoll Capital Management LLC now owns 5,799,687 shares of the company's stock valued at $4,965,000 after purchasing an additional 225,000 shares during the period. Hedge funds and other institutional investors own 98.31% of the company's stock.

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.

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