Citigroup Raises Applied Therapeutics (NASDAQ:APLT) Price Target to $8.00

Applied Therapeutics (NASDAQ:APLT) had its price objective raised by Citigroup from $7.00 to $8.00 in a research note released on Tuesday morning, Benzinga reports. Citigroup currently has a buy rating on the stock.

Other analysts have also issued research reports about the company. William Blair initiated coverage on Applied Therapeutics in a research note on Wednesday, July 31st. They issued an outperform rating for the company. Royal Bank of Canada reaffirmed an outperform rating and issued a $12.00 target price on shares of Applied Therapeutics in a research report on Wednesday, July 17th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Applied Therapeutics presently has a consensus rating of Buy and an average price target of $11.25.

Applied Therapeutics Trading Up 4.3 %

Applied Therapeutics stock opened at $6.34 on Tuesday. The firm has a market cap of $724.45 million, a P/E ratio of -3.45 and a beta of 1.99. Applied Therapeutics has a 1-year low of $1.22 and a 1-year high of $9.39. The firm has a 50-day moving average of $5.46 and a 200-day moving average of $5.29.

Applied Therapeutics (NASDAQ:APLT) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03). The business had revenue of $0.14 million during the quarter, compared to analyst estimates of $10.00 million. Research analysts forecast that Applied Therapeutics will post -0.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Applied Therapeutics news, CFO Leslie D. Funtleyder sold 16,980 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $4.32, for a total transaction of $73,353.60. Following the completion of the transaction, the chief financial officer now owns 291,441 shares of the company’s stock, valued at $1,259,025.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Applied Therapeutics news, CFO Leslie D. Funtleyder sold 16,980 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $4.32, for a total value of $73,353.60. Following the sale, the chief financial officer now owns 291,441 shares in the company, valued at $1,259,025.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Shoshana Shendelman sold 61,795 shares of Applied Therapeutics stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $4.32, for a total transaction of $266,954.40. Following the transaction, the chief executive officer now owns 3,756,019 shares of the company’s stock, valued at $16,226,002.08. The disclosure for this sale can be found here. Insiders have sold a total of 670,369 shares of company stock valued at $3,570,036 over the last ninety days. Company insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Applied Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Algert Global LLC bought a new position in shares of Applied Therapeutics during the second quarter valued at $110,000. Frazier Life Sciences Management L.P. increased its stake in Applied Therapeutics by 17.1% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 2,286,135 shares of the company’s stock valued at $10,676,000 after purchasing an additional 333,278 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in Applied Therapeutics during the 2nd quarter valued at about $172,000. Sei Investments Co. purchased a new position in Applied Therapeutics in the second quarter worth about $535,000. Finally, Victory Capital Management Inc. bought a new position in shares of Applied Therapeutics in the second quarter worth approximately $54,000. 98.31% of the stock is owned by institutional investors.

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.