Applied Therapeutics (NASDAQ:APLT) Issues Earnings Results

Applied Therapeutics (NASDAQ:APLT) released its earnings results on Thursday. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.02, FiscalAI reports. The firm had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $0.25 million.

Applied Therapeutics Stock Down 62.9%

Applied Therapeutics stock traded down $0.57 during midday trading on Thursday, hitting $0.34. The company’s stock had a trading volume of 22,313,139 shares, compared to its average volume of 3,437,888. Applied Therapeutics has a 12 month low of $0.30 and a 12 month high of $10.48. The company has a market capitalization of $48.68 million, a PE ratio of -0.76 and a beta of 2.09. The stock’s 50-day moving average price is $0.88 and its 200-day moving average price is $0.58.

Institutional Investors Weigh In On Applied Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of APLT. Vanguard Group Inc. boosted its position in shares of Applied Therapeutics by 7.8% in the 3rd quarter. Vanguard Group Inc. now owns 5,102,689 shares of the company’s stock valued at $3,087,000 after purchasing an additional 368,676 shares during the period. Marshall Wace LLP increased its stake in Applied Therapeutics by 18.1% in the 2nd quarter. Marshall Wace LLP now owns 1,544,191 shares of the company’s stock valued at $479,000 after buying an additional 236,810 shares during the period. Finally, AQR Capital Management LLC purchased a new stake in shares of Applied Therapeutics during the first quarter worth $280,000. Institutional investors and hedge funds own 98.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Applied Therapeutics in a report on Tuesday, October 14th. Wall Street Zen upgraded Applied Therapeutics to a “sell” rating in a research note on Saturday, July 26th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Applied Therapeutics presently has an average rating of “Hold” and a consensus price target of $4.13.

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.