Applied Therapeutics (NASDAQ:APLT) Price Target Raised to $11.00

Applied Therapeutics (NASDAQ:APLT) had its price objective boosted by Citigroup from $8.00 to $11.00 in a research note issued to investors on Thursday, Benzinga reports. Citigroup currently has a buy rating on the stock.

APLT has been the subject of a number of other research reports. William Blair upgraded shares of Applied Therapeutics to a strong-buy rating in a research note on Friday, August 30th. Leerink Partners boosted their price objective on Applied Therapeutics from $11.00 to $14.00 and gave the stock an outperform rating in a research note on Thursday. Finally, Royal Bank of Canada restated an outperform rating and issued a $12.00 target price on shares of Applied Therapeutics in a research note on Wednesday, July 17th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Buy and a consensus target price of $12.50.

Applied Therapeutics Price Performance

Shares of NASDAQ:APLT opened at $7.70 on Thursday. The business’s fifty day moving average price is $5.81 and its two-hundred day moving average price is $5.33. Applied Therapeutics has a fifty-two week low of $1.79 and a fifty-two week high of $9.39. The stock has a market capitalization of $879.86 million, a price-to-earnings ratio of -4.18 and a beta of 2.03.

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

Insider Activity

In other news, CEO Shoshana Shendelman sold 119,591 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $5.93, for a total transaction of $709,174.63. Following the transaction, the chief executive officer now owns 4,690,839 shares of the company’s stock, valued at $27,816,675.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Applied Therapeutics

Several large investors have recently bought and sold shares of the business. Principal Financial Group Inc. bought a new stake in shares of Applied Therapeutics during the 2nd quarter valued at $54,000. Victory Capital Management Inc. acquired a new position in Applied Therapeutics in the second quarter valued at about $54,000. Jump Financial LLC bought a new position in Applied Therapeutics during the fourth quarter worth about $81,000. SG Americas Securities LLC bought a new position in Applied Therapeutics during the second quarter worth about $87,000. Finally, Algert Global LLC bought a new stake in shares of Applied Therapeutics in the 2nd quarter valued at about $110,000. 98.31% of the stock is currently owned by institutional investors and hedge funds.

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.