Applied Therapeutics (NASDAQ:APLT) Earns Outperform Rating from Royal Bank of Canada

Applied Therapeutics (NASDAQ:APLT)‘s stock had its “outperform” rating reissued by Royal Bank of Canada in a report issued on Thursday, Benzinga reports. They currently have a $12.00 price target on the stock. Royal Bank of Canada’s target price indicates a potential upside of 132.56% from the company’s previous close.

APLT has been the subject of a number of other research reports. UBS Group increased their price objective on shares of Applied Therapeutics from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Leerink Partnrs reaffirmed an “outperform” rating on shares of Applied Therapeutics in a research report on Thursday, February 22nd. SVB Leerink started coverage on shares of Applied Therapeutics in a research report on Thursday, February 22nd. They set an “outperform” rating and a $12.00 price objective for the company. Finally, Citigroup increased their price objective on shares of Applied Therapeutics from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $11.60.

Applied Therapeutics Trading Down 3.4 %

APLT stock opened at $5.16 on Thursday. The company has a market cap of $546.39 million, a price-to-earnings ratio of -3.82 and a beta of 1.81. Applied Therapeutics has a 12 month low of $0.78 and a 12 month high of $9.39. The firm has a 50-day moving average of $5.58 and a two-hundred day moving average of $3.62.

Applied Therapeutics (NASDAQ:APLT) last announced its quarterly earnings results on Wednesday, March 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.18). The firm had revenue of ($0.67) million for the quarter. As a group, equities analysts forecast that Applied Therapeutics will post -0.53 earnings per share for the current year.

Insider Buying and Selling at Applied Therapeutics

In other Applied Therapeutics news, insider Riccardo Perfetti sold 110,804 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $5.39, for a total value of $597,233.56. Following the completion of the transaction, the insider now owns 1,031,537 shares of the company’s stock, valued at approximately $5,559,984.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Leslie D. Funtleyder sold 28,727 shares of Applied Therapeutics stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $5.39, for a total transaction of $154,838.53. Following the completion of the sale, the chief financial officer now directly owns 308,421 shares of the company’s stock, valued at approximately $1,662,389.19. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Riccardo Perfetti sold 110,804 shares of Applied Therapeutics stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $5.39, for a total transaction of $597,233.56. Following the sale, the insider now directly owns 1,031,537 shares of the company’s stock, valued at $5,559,984.43. The disclosure for this sale can be found here. Insiders sold 458,104 shares of company stock valued at $2,469,181 in the last 90 days. Company insiders own 19.10% of the company’s stock.

Institutional Investors Weigh In On Applied Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Northern Trust Corp raised its stake in Applied Therapeutics by 7.7% during the 4th quarter. Northern Trust Corp now owns 106,597 shares of the company’s stock worth $357,000 after acquiring an additional 7,650 shares in the last quarter. Vontobel Holding Ltd. acquired a new stake in Applied Therapeutics during the 4th quarter worth $34,000. Balyasny Asset Management L.P. acquired a new stake in Applied Therapeutics during the 4th quarter worth $36,000. UBS Group AG raised its stake in Applied Therapeutics by 10.9% during the 4th quarter. UBS Group AG now owns 120,207 shares of the company’s stock worth $403,000 after acquiring an additional 11,826 shares in the last quarter. Finally, Commonwealth Equity Services LLC acquired a new stake in Applied Therapeutics during the 3rd quarter worth $34,000. 98.31% of the stock is currently owned by institutional investors and hedge funds.

About Applied Therapeutics

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.