Applied Therapeutics (NASDAQ:APLT) Coverage Initiated by Analysts at Royal Bank of Canada

Royal Bank of Canada assumed coverage on shares of Applied Therapeutics (NASDAQ:APLT) in a research report released on Tuesday morning, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $12.00 target price on the stock.

Several other analysts also recently commented on the company. UBS Group raised their target price on Applied Therapeutics from $12.00 to $13.00 and gave the company a buy rating in a research note on Friday, March 15th. Citigroup raised their target price on Applied Therapeutics from $5.00 to $7.00 and gave the company a buy rating in a research note on Friday, February 16th. Leerink Partnrs restated an outperform rating on shares of Applied Therapeutics in a research note on Thursday, February 22nd. Finally, SVB Leerink initiated coverage on Applied Therapeutics in a research note on Thursday, February 22nd. They set an outperform rating and a $12.00 price target for the company. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of Buy and a consensus target price of $11.60.

Applied Therapeutics Trading Down 0.7 %

APLT stock opened at $6.80 on Tuesday. The stock has a 50-day moving average price of $5.01 and a 200-day moving average price of $3.37. Applied Therapeutics has a 1-year low of $0.76 and a 1-year high of $9.39. The firm has a market cap of $720.05 million, a PE ratio of -5.04 and a beta of 1.82.

Applied Therapeutics (NASDAQ:APLT) 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 firm had revenue of ($0.67) million during the quarter. On average, analysts forecast that Applied Therapeutics will post -0.53 earnings per share for the current 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 sale, the insider now owns 1,031,537 shares of the company’s stock, valued at approximately $5,559,984.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Shoshana Shendelman sold 318,573 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 $1,717,108.47. Following the sale, the chief executive officer now owns 3,817,814 shares of the company’s stock, valued at approximately $20,578,017.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Riccardo Perfetti sold 110,804 shares of Applied Therapeutics stock in a transaction that occurred 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 completion of 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. Insiders have sold 458,104 shares of company stock worth $2,469,181 in the last 90 days. Insiders own 19.10% of the company’s stock.

Institutional Investors Weigh In On Applied Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. grew its position in shares of Applied Therapeutics by 66.4% during the 2nd quarter. Franklin Resources Inc. now owns 7,946,732 shares of the company’s stock valued at $10,172,000 after purchasing an additional 3,171,248 shares in the last quarter. VR Adviser LLC purchased a new position in shares of Applied Therapeutics during the 2nd quarter valued at $7,242,000. Vestal Point Capital LP purchased a new position in shares of Applied Therapeutics during the 4th quarter valued at $13,919,000. FMR LLC grew its position in shares of Applied Therapeutics by 343.6% during the 2nd quarter. FMR LLC now owns 4,007,283 shares of the company’s stock valued at $3,800,000 after purchasing an additional 3,103,990 shares in the last quarter. Finally, Armistice Capital LLC purchased a new position in shares of Applied Therapeutics during the 3rd quarter valued at $8,466,000. 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.