Applied Therapeutics (NASDAQ:APLT) Receives “Market Perform” Rating from Leerink Partners

Applied Therapeutics (NASDAQ:APLT)‘s stock had its “market perform” rating reissued by investment analysts at Leerink Partners in a report released on Wednesday, MarketBeat reports. They presently have a $1.00 target price on the stock, down from their previous target price of $2.00. Leerink Partners’ target price would suggest a potential upside of 369.70% from the company’s previous close.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Applied Therapeutics in a report on Monday. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $1.25.

Applied Therapeutics Stock Performance

Shares of APLT stock opened at $0.21 on Wednesday. Applied Therapeutics has a fifty-two week low of $0.21 and a fifty-two week high of $1.75. The firm has a market capitalization of $30.72 million, a price-to-earnings ratio of -2.13 and a beta of 1.99. The stock’s 50-day simple moving average is $0.83 and its 200-day simple moving average is $0.57.

Applied Therapeutics (NASDAQ:APLT) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.02. The company had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $0.25 million. As a group, equities analysts forecast that Applied Therapeutics will post -0.65 earnings per share for the current year.

Institutional Trading of Applied Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its stake in shares of Applied Therapeutics by 23.0% in the first quarter. Bank of New York Mellon Corp now owns 316,455 shares of the company’s stock worth $155,000 after acquiring an additional 59,178 shares during the period. Nuveen LLC purchased a new position in Applied Therapeutics during the first quarter valued at approximately $137,000. HighTower Advisors LLC acquired a new position in Applied Therapeutics in the first quarter valued at approximately $59,000. T. Rowe Price Investment Management Inc. lifted its holdings in Applied Therapeutics by 91.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 10,380,590 shares of the company’s stock valued at $5,076,000 after acquiring an additional 4,959,670 shares during the period. Finally, CreativeOne Wealth LLC boosted its position in Applied Therapeutics by 132.2% in the 1st quarter. CreativeOne Wealth LLC now owns 50,413 shares of the company’s stock worth $25,000 after purchasing an additional 28,701 shares in the last quarter. 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.