Analysts Set Applied Therapeutics Inc. (NASDAQ:APLT) Target Price at $6.10

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.

Applied Therapeutics Inc. (NASDAQ:APLT - Get Free Report) has received an average rating of "Hold" from the five analysts that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $4.1250.

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

Institutional Investors Weigh In On Applied Therapeutics

Large investors have recently modified their holdings of the company. Toronto Dominion Bank purchased a new position in Applied Therapeutics in the fourth quarter worth $27,000. CreativeOne Wealth LLC boosted its holdings in shares of Applied Therapeutics by 132.2% during the first quarter. CreativeOne Wealth LLC now owns 50,413 shares of the company's stock worth $25,000 after purchasing an additional 28,701 shares during the period. California State Teachers Retirement System boosted its stake in shares of Applied Therapeutics by 923.3% during the 4th quarter. California State Teachers Retirement System now owns 71,282 shares of the company's stock valued at $61,000 after purchasing an additional 64,316 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Applied Therapeutics during the fourth quarter valued at $102,000. Finally, HighTower Advisors LLC purchased a new stake in shares of Applied Therapeutics in the 1st quarter worth approximately $59,000. 98.31% of the stock is currently owned by institutional investors and hedge funds.

Applied Therapeutics Stock Performance

Applied Therapeutics stock traded down $0.01 during midday trading on Tuesday, hitting $0.43. 1,939,119 shares of the company were exchanged, compared to its average volume of 704,186. Applied Therapeutics has a fifty-two week low of $0.30 and a fifty-two week high of $10.62. The business has a fifty day simple moving average of $0.47 and a two-hundred day simple moving average of $0.43. The firm has a market capitalization of $62.60 million, a PE ratio of -0.97 and a beta of 2.06.

Applied Therapeutics (NASDAQ:APLT - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The company reported ($0.15) EPS for the quarter, topping analysts' consensus estimates of ($0.17) by $0.02. As a group, equities analysts expect that Applied Therapeutics will post -0.65 earnings per share for the current 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.