Applied Therapeutics (NASDAQ:APLT) Issues Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Applied Therapeutics (NASDAQ:APLT – Get Rating) issued its quarterly earnings results on Thursday. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.83) by ($0.05), MarketWatch Earnings reports.

Shares of APLT stock opened at $1.72 on Friday. The stock has a 50-day moving average of $2.00 and a 200-day moving average of $5.44. Applied Therapeutics has a one year low of $1.45 and a one year high of $25.59.

Several research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Applied Therapeutics from a “hold” rating to a “buy” rating and set a $2.00 target price on the stock in a research report on Wednesday, March 2nd. Truist Financial cut their target price on shares of Applied Therapeutics to $6.00 in a research report on Wednesday, April 13th. Finally, Barclays cut their target price on shares of Applied Therapeutics from $7.00 to $2.50 and set an “equal weight” rating on the stock in a research report on Monday, March 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Applied Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $12.08.

In related news, insider Riccardo Perfetti purchased 30,000 shares of the stock in a transaction dated Wednesday, March 23rd. The stock was bought at an average cost of $1.97 per share, with a total value of $59,100.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 27.20% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its stake in Applied Therapeutics by 77.3% during the 3rd quarter. Royal Bank of Canada now owns 2,151 shares of the company’s stock worth $36,000 after purchasing an additional 938 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Applied Therapeutics by 308.2% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 3,135 shares of the company’s stock worth $52,000 after purchasing an additional 2,367 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in Applied Therapeutics during the 3rd quarter worth approximately $67,000. Wells Fargo & Company MN increased its stake in Applied Therapeutics by 385,900.0% during the 4th quarter. Wells Fargo & Company MN now owns 7,720 shares of the company’s stock worth $69,000 after purchasing an additional 7,718 shares in the last quarter. Finally, Credit Suisse AG bought a new stake in Applied Therapeutics during the 4th quarter worth approximately $93,000. 95.51% of the stock is owned by institutional investors and hedge funds.

Applied Therapeutics Company Profile (Get Rating)

Applied Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops novel products to target cardiovascular disease, galactosemia, and diabetic complications. Its lead product candidate is AT-007 that has completed phase 1/2 for the treatment of galactosemia in healthy volunteers and adults, as well as is in pediatric clinical study for the treatment of galactosemia in kids; for treating sorbitol dehydrogenase deficiency; and for the treatment of phosphomannomutase enzyme-CDG.

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