Applied Therapeutics (NASDAQ:APLT) Posts Earnings Results, Beats Expectations By $0.02 EPS

Key Points

• Applied Therapeutics reported a quarterly **EPS** of ($0.15), exceeding analysts' expectations of ($0.17) by **$0.02**.
• The company's stock traded up to **$0.45** with an average target price of **$6.10** and a current rating of **"Hold"** from analysts.
• A hedge fund recently acquired a **new stake** in Applied Therapeutics, purchasing **572,311 shares** valued at approximately **$280,000**.

Applied Therapeutics (NASDAQ:APLT - Get Free Report) released its quarterly earnings data on Wednesday. The company reported ($0.15) EPS for the quarter, topping analysts' consensus estimates of ($0.17) by $0.02, Zacks reports.

Applied Therapeutics Trading Up 4.4%

Shares of Applied Therapeutics stock traded up $0.02 during mid-day trading on Monday, reaching $0.50. 1,977,578 shares of the stock were exchanged, compared to its average volume of 928,913. Applied Therapeutics has a fifty-two week low of $0.30 and a fifty-two week high of $10.62. The company has a market cap of $72.01 million, a price-to-earnings ratio of -1.11 and a beta of 1.97. The firm has a 50-day simple moving average of $0.41 and a 200 day simple moving average of $0.44.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on APLT. Royal Bank Of Canada reissued a "sector perform" rating and issued a $1.50 target price on shares of Applied Therapeutics in a research note on Wednesday, May 14th. Wall Street Zen upgraded Applied Therapeutics to a "sell" rating in a research note on Saturday, July 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Applied Therapeutics presently has a consensus rating of "Hold" and a consensus target price of $6.10.

Institutional Trading of Applied Therapeutics

A hedge fund recently raised its stake in Applied Therapeutics stock. Marshall Wace LLP lifted its holdings in Applied Therapeutics Inc. (NASDAQ:APLT - Free Report) by 18.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,544,191 shares of the company's stock after acquiring an additional 236,810 shares during the quarter. Marshall Wace LLP owned approximately 1.09% of Applied Therapeutics worth $479,000 at the end of the most recent reporting period. 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.