Applied Therapeutics Inc. (NASDAQ:APLT) Given Average Rating of “Reduce” by Brokerages

Shares of Applied Therapeutics Inc. (NASDAQ:APLT) have been assigned a consensus rating of “Reduce” from the six ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $1.25.

Several equities research analysts have recently weighed in on the company. Leerink Partnrs downgraded Applied Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 3rd. Leerink Partners reiterated a “market perform” rating and issued a $1.00 price target (down previously from $2.00) on shares of Applied Therapeutics in a research report on Wednesday, December 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Applied Therapeutics in a research report on Monday. Baird R W lowered shares of Applied Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 12th. Finally, Robert W. Baird cut shares of Applied Therapeutics from an “outperform” rating to a “neutral” rating in a report on Friday, December 12th.

Applied Therapeutics Price Performance

Shares of APLT opened at $0.10 on Monday. Applied Therapeutics has a 1-year low of $0.09 and a 1-year high of $1.50. The stock has a market cap of $15.81 million, a PE ratio of -1.03 and a beta of 1.99. The firm has a fifty day moving average price of $0.41 and a 200 day moving average price of $0.53.

Applied Therapeutics (NASDAQ:APLT) last posted its earnings results on Thursday, November 13th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. The firm had revenue of $1.00 million for the quarter, compared to analyst estimates of $0.25 million. As a group, equities analysts expect that Applied Therapeutics will post -0.65 EPS for the current fiscal year.

Institutional Trading of Applied Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Nuveen LLC acquired a new position in shares of Applied Therapeutics in the first quarter valued at approximately $137,000. HighTower Advisors LLC acquired a new stake in shares of Applied Therapeutics during the first quarter worth $59,000. CreativeOne Wealth LLC grew 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 valued at $25,000 after buying an additional 28,701 shares during the last quarter. Propel Bio Management LLC increased its stake in Applied Therapeutics by 17.4% in the 1st quarter. Propel Bio Management LLC now owns 11,285,420 shares of the company’s stock valued at $5,517,000 after buying an additional 1,670,000 shares during the period. Finally, Alyeska Investment Group L.P. raised its position in Applied Therapeutics by 14.8% during the 1st quarter. Alyeska Investment Group L.P. now owns 3,107,497 shares of the company’s stock worth $1,519,000 after buying an additional 400,000 shares during the last quarter. 98.31% of the stock is owned by institutional investors and hedge funds.

About Applied Therapeutics

Applied Therapeutics, Inc is a clinical-stage biopharmaceutical company dedicated to the discovery and development of novel small-molecule therapies for genetically defined diseases. Its research strategy centers on structure-based drug design and proprietary screening technologies aimed at correcting underlying metabolic dysfunction in disorders characterized by enzyme deficiencies and toxic metabolite accumulation.

The company’s lead investigational candidate, AT-007, is an aldose reductase inhibitor engineered to cross the blood–brain barrier and is currently in clinical development for classic galactosemia.