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

Shares of Applied Therapeutics Inc. (NASDAQ:APLT) have been given an average recommendation of “Hold” by the six ratings firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $4.1250.

Several analysts recently commented on APLT shares. Wall Street Zen raised Applied Therapeutics to a “sell” rating in a research note on Saturday, July 26th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Applied Therapeutics in a research note on Tuesday, October 14th.

Applied Therapeutics Trading Down 2.9%

Shares of NASDAQ:APLT opened at $1.01 on Wednesday. Applied Therapeutics has a 1-year low of $0.30 and a 1-year high of $10.62. The firm has a market capitalization of $145.45 million, a PE ratio of -2.24 and a beta of 2.09. The business’s 50 day moving average is $0.84 and its 200-day moving average is $0.56.

Applied Therapeutics (NASDAQ:APLT) last announced its quarterly earnings results on Wednesday, August 13th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.02. On average, sell-side analysts predict that Applied Therapeutics will post -0.65 EPS for the current year.

Hedge Funds Weigh In On Applied Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of APLT. CreativeOne Wealth LLC boosted its stake in Applied Therapeutics by 132.2% in the first 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. HighTower Advisors LLC acquired a new position in Applied Therapeutics in the first quarter worth $59,000. Birchview Capital LP acquired a new position in Applied Therapeutics in the second quarter worth $87,000. Nuveen LLC acquired a new position in Applied Therapeutics in the first quarter worth $137,000. Finally, Bank of New York Mellon Corp boosted its stake in 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 purchasing an additional 59,178 shares in the last quarter. Institutional investors and hedge funds 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.