Zacks Investment Research Upgrades Applied Therapeutics (NASDAQ:APLT) to Buy

Applied Therapeutics (NASDAQ:APLTGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, Zacks.com reports. The brokerage currently has a $1.75 price objective on the stock. Zacks Investment Research‘s target price suggests a potential upside of 19.05% from the stock’s current price.

According to Zacks, “Applied Therapeutics Inc. is a clinical-stage biopharmaceutical company. It engages in developing drug candidates for unmet medical need. The company’s product candidate consists of AT-001, for the treatment of Diabetic Cardiomyopathy; AT-007, for the treatment of Galactosemia and AT-003, for the treatment of diabetic retinopathy which are in clinical stage. Applied Therapeutics Inc. is based in New York, United States. “

APLT has been the subject of several other research reports. Truist Financial lowered their price target on shares of Applied Therapeutics to $6.00 in a research report on Wednesday, April 13th. Citigroup lowered their price target on shares of Applied Therapeutics to $29.00 and set a “buy” rating for the company in a research report on Friday. Finally, Barclays lowered their price target on shares of Applied Therapeutics from $7.00 to $2.50 and set an “equal weight” rating for the company in a research report on Monday, March 21st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Applied Therapeutics has a consensus rating of “Hold” and a consensus target price of $10.54.

APLT stock traded down $0.03 during mid-day trading on Tuesday, reaching $1.47. The company had a trading volume of 92,977 shares, compared to its average volume of 335,734. The company has a market capitalization of $38.57 million, a PE ratio of -0.37 and a beta of 1.52. The firm has a 50 day moving average of $2.00 and a 200 day moving average of $4.86. Applied Therapeutics has a 12 month low of $1.33 and a 12 month high of $25.59.

Applied Therapeutics (NASDAQ:APLTGet Rating) last issued its earnings results on Thursday, May 12th. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.05). Equities analysts anticipate that Applied Therapeutics will post -2.47 EPS for the current fiscal year.

In other news, insider Riccardo Perfetti bought 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 23rd. The stock was bought at an average price of $1.97 per share, with a total value of $59,100.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 27.20% of the company’s stock.

Large 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 valued at $36,000 after purchasing an additional 938 shares in the last quarter. Bank of America Corp DE increased its stake in Applied Therapeutics by 13.1% during the 2nd quarter. Bank of America Corp DE now owns 12,877 shares of the company’s stock valued at $268,000 after purchasing an additional 1,495 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 valued at $52,000 after purchasing an additional 2,367 shares in the last quarter. Morgan Stanley increased its stake in Applied Therapeutics by 21.4% during the 1st quarter. Morgan Stanley now owns 14,061 shares of the company’s stock valued at $264,000 after purchasing an additional 2,483 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Applied Therapeutics by 4.3% during the 3rd quarter. Goldman Sachs Group Inc. now owns 62,090 shares of the company’s stock valued at $1,031,000 after purchasing an additional 2,545 shares in the last quarter. 95.51% of the stock is owned by institutional investors.

About Applied Therapeutics (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.

Featured Articles

Get a free copy of the Zacks research report on Applied Therapeutics (APLT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Applied Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.