Applied Therapeutics (NASDAQ:APLT) Shares Up 6.4% – Should You Buy?

Applied Therapeutics, Inc. (NASDAQ:APLT)’s stock price shot up 6.4% during mid-day trading on Monday . The company traded as high as $9.24 and last traded at $9.12. 1,287,402 shares traded hands during trading, a decline of 30% from the average session volume of 1,843,190 shares. The stock had previously closed at $8.57.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on APLT. Leerink Partners boosted their target price on Applied Therapeutics from $11.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. Royal Bank of Canada restated an “outperform” rating and issued a $12.00 price target on shares of Applied Therapeutics in a report on Wednesday, July 17th. William Blair upgraded Applied Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Finally, Citigroup upped their price target on Applied Therapeutics from $8.00 to $11.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $12.50.

Applied Therapeutics Stock Performance

The company has a market capitalization of $1.02 billion, a PE ratio of -4.66 and a beta of 2.04. The company has a 50 day moving average price of $6.63 and a 200 day moving average price of $5.50.

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

Insider Activity at Applied Therapeutics

In other Applied Therapeutics news, CEO Shoshana Shendelman sold 119,591 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $5.93, for a total value of $709,174.63. Following the sale, the chief executive officer now directly owns 4,690,839 shares of the company’s stock, valued at $27,816,675.27. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Applied Therapeutics

Several large investors have recently added to or reduced their stakes in APLT. Victory Capital Management Inc. acquired a new position in shares of Applied Therapeutics during the second quarter valued at $54,000. Principal Financial Group Inc. acquired a new position in shares of Applied Therapeutics during the second quarter valued at $54,000. SG Americas Securities LLC acquired a new position in shares of Applied Therapeutics during the second quarter valued at $87,000. Algert Global LLC acquired a new position in shares of Applied Therapeutics during the second quarter valued at $110,000. Finally, Denali Advisors LLC acquired a new position in shares of Applied Therapeutics during the first quarter valued at $228,000. 98.31% of the stock is owned by institutional investors and hedge funds.

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.