Leerink Partners Boosts Applied Therapeutics (NASDAQ:APLT) Price Target to $14.00

by · The Markets Daily

Applied Therapeutics (NASDAQ:APLT – Free Report) had its price target hoisted by Leerink Partners from $11.00 to $14.00 in a research note issued to investors on Thursday morning, Benzinga reports. Leerink Partners currently has an outperform rating on the stock.

A number of other equities analysts also recently weighed in on the company. 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. Citigroup boosted their price objective on Applied Therapeutics from $7.00 to $8.00 and gave the stock a buy rating in a research report on Tuesday, August 27th. Finally, William Blair raised Applied Therapeutics to a strong-buy rating in a research report on Friday, August 30th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Buy and a consensus price target of $12.50.

Check Out Our Latest Stock Report on Applied Therapeutics

Applied Therapeutics Trading Down 3.8 %

Shares of Applied Therapeutics stock opened at $7.70 on Thursday. The stock has a fifty day simple moving average of $5.81 and a 200 day simple moving average of $5.33. Applied Therapeutics has a 12-month low of $1.79 and a 12-month high of $9.39. The company has a market capitalization of $879.86 million, a P/E ratio of -4.18 and a beta of 2.03.

Applied Therapeutics (NASDAQ:APLT – Get Free Report) last announced 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 for the quarter, compared to the consensus estimate of $10.00 million. On average, analysts predict that Applied Therapeutics will post -0.48 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Shoshana Shendelman sold 119,591 shares of Applied Therapeutics stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $5.93, for a total value of $709,174.63. Following the completion of the sale, the chief executive officer now owns 4,690,839 shares of the company’s stock, valued at approximately $27,816,675.27. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Applied Therapeutics

Several institutional investors have recently made changes to their positions in APLT. Victory Capital Management Inc. purchased a new position in shares of Applied Therapeutics in the second quarter valued at $54,000. Principal Financial Group Inc. purchased a new position in Applied Therapeutics during the 2nd quarter valued at about $54,000. SG Americas Securities LLC bought a new stake in shares of Applied Therapeutics during the second quarter valued at about $87,000. Algert Global LLC purchased a new stake in shares of Applied Therapeutics in the second quarter worth about $110,000. Finally, Jump Financial LLC bought a new position in shares of Applied Therapeutics in the fourth quarter valued at approximately $81,000. Hedge funds and other institutional investors own 98.31% of the company’s stock.

About Applied Therapeutics

(Get Free Report)

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.

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