Applied Therapeutics (NASDAQ:APLT) Given Average Rating of “Strong Buy” by Analysts
Applied Therapeutics (NASDAQ:APLT) has been assigned an average broker rating score of 1.00 (Strong Buy) from the three analysts that cover the company, Zacks Investment Research reports. Three research analysts have rated the stock with a strong buy recommendation.
Analysts have set a 1 year consensus target price of $26.50 for the company and are expecting that the company will post ($0.39) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Applied Therapeutics an industry rank of 74 out of 256 based on the ratings given to related companies.
A number of equities research analysts recently weighed in on APLT shares. Citigroup started coverage on Applied Therapeutics in a research report on Monday, June 10th. They set a “buy” rating and a $29.00 target price on the stock. Robert W. Baird started coverage on Applied Therapeutics in a research report on Monday, June 10th. They set an “outperform” rating and a $24.00 target price on the stock. Cowen started coverage on Applied Therapeutics in a research report on Monday, June 10th. They set an “outperform” rating on the stock. Finally, UBS Group started coverage on shares of Applied Therapeutics in a research note on Monday, June 10th. They set a “buy” rating for the company.
In other Applied Therapeutics news, major shareholder Real Estate Equitie Alexandria purchased 975,000 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was purchased at an average price of $10.00 per share, for a total transaction of $9,750,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joel S. Marcus purchased 150,000 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were acquired at an average price of $10.00 per share, with a total value of $1,500,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 1,250,000 shares of company stock valued at $12,500,000.
About Applied Therapeutics
Applied Therapeutics, Inc, a biopharmaceutical company, develops novel products to target cardiovascular disease, galactosemia, and diabetic complications. Its lead product candidate is AT-001 that is in phase II clinical trials for treating diabetic cardiomyopathy, as well as is in phase I clinical trials to treat diabetic peripheral neuropathy.
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