Applied Therapeutics' (APLT) "Outperform" Rating Reaffirmed at Royal Bank of Canada

Applied Therapeutics (NASDAQ:APLT - Get Free Report)'s stock had its "outperform" rating reaffirmed by equities researchers at Royal Bank of Canada in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $12.00 price objective on the stock. Royal Bank of Canada's target price would suggest a potential upside of 124.72% from the company's previous close.

Other research analysts also recently issued reports about the company. SVB Leerink initiated coverage on Applied Therapeutics in a report on Thursday, February 22nd. They issued an "outperform" rating and a $12.00 target price on the stock. Leerink Partnrs reaffirmed an "outperform" rating on shares of Applied Therapeutics in a report on Thursday, February 22nd. Citigroup increased their price target on Applied Therapeutics from $5.00 to $7.00 and gave the company a "buy" rating in a research note on Friday, February 16th. Finally, UBS Group increased their price target on Applied Therapeutics from $12.00 to $13.00 and gave the company a "buy" rating in a research note on Friday, March 15th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Applied Therapeutics has an average rating of "Buy" and a consensus price target of $11.60.

Applied Therapeutics Stock Down 2.9 %

Shares of NASDAQ:APLT traded down $0.16 on Thursday, reaching $5.34. The company had a trading volume of 684,546 shares, compared to its average volume of 2,062,144. Applied Therapeutics has a twelve month low of $0.77 and a twelve month high of $9.39. The stock has a 50-day moving average price of $5.50 and a 200 day moving average price of $3.59. The stock has a market capitalization of $565.44 million, a P/E ratio of -4.06 and a beta of 1.81.

Applied Therapeutics (NASDAQ:APLT - Get Free Report) last posted its quarterly earnings data on Wednesday, March 6th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.18). The company had revenue of ($0.67) million during the quarter. On average, sell-side analysts predict that Applied Therapeutics will post -0.53 earnings per share for the current fiscal year.

Insider Transactions at Applied Therapeutics

In related news, insider Riccardo Perfetti sold 110,804 shares of Applied Therapeutics stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $5.39, for a total value of $597,233.56. Following the transaction, the insider now directly owns 1,031,537 shares of the company's stock, valued at $5,559,984.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Applied Therapeutics news, CEO Shoshana Shendelman sold 318,573 shares of the business's stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $5.39, for a total transaction of $1,717,108.47. Following the sale, the chief executive officer now owns 3,817,814 shares of the company's stock, valued at $20,578,017.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Riccardo Perfetti sold 110,804 shares of the business's stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $5.39, for a total transaction of $597,233.56. Following the sale, the insider now directly owns 1,031,537 shares in the company, valued at approximately $5,559,984.43. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 458,104 shares of company stock valued at $2,469,181. 19.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Applied Therapeutics

A number of hedge funds have recently modified their holdings of the business. Vontobel Holding Ltd. acquired a new position in Applied Therapeutics in the fourth quarter valued at $34,000. Balyasny Asset Management L.P. acquired a new position in shares of Applied Therapeutics during the fourth quarter valued at about $36,000. Commonwealth Equity Services LLC acquired a new position in shares of Applied Therapeutics during the third quarter valued at about $34,000. Goldman Sachs Group Inc. acquired a new position in shares of Applied Therapeutics during the fourth quarter valued at about $56,000. Finally, Jump Financial LLC acquired a new position in shares of Applied Therapeutics during the fourth quarter valued at about $81,000. Institutional investors and hedge funds 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.