Applied Therapeutics’ (APLT) “Sector Perform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of Applied Therapeutics (NASDAQ:APLT) in a report published on Wednesday morning,Benzinga reports. The brokerage currently has a $1.50 price objective on the stock.

Applied Therapeutics Stock Up 22.8%

Shares of APLT opened at $0.60 on Wednesday. The company has a market cap of $85.36 million, a P/E ratio of -0.37 and a beta of 2.00. Applied Therapeutics has a fifty-two week low of $0.30 and a fifty-two week high of $10.62. The firm’s 50 day moving average price is $0.43 and its 200 day moving average price is $1.96.

Applied Therapeutics (NASDAQ:APLT) last posted its quarterly earnings data on Monday, April 14th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). The firm had revenue of $0.00 million during the quarter, compared to analyst estimates of $0.61 million. Research analysts forecast that Applied Therapeutics will post -0.65 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in APLT. Hennion & Walsh Asset Management Inc. increased its position in shares of Applied Therapeutics by 18.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 313,355 shares of the company’s stock valued at $268,000 after purchasing an additional 47,983 shares during the last quarter. SG Americas Securities LLC increased its holdings in Applied Therapeutics by 169.0% in the fourth quarter. SG Americas Securities LLC now owns 40,747 shares of the company’s stock valued at $35,000 after buying an additional 25,601 shares during the last quarter. Private Advisor Group LLC acquired a new stake in Applied Therapeutics in the fourth quarter valued at $35,000. Swiss National Bank purchased a new stake in Applied Therapeutics during the 4th quarter worth about $126,000. Finally, Intech Investment Management LLC lifted its holdings in Applied Therapeutics by 176.1% during the 4th quarter. Intech Investment Management LLC now owns 52,631 shares of the company’s stock worth $45,000 after buying an additional 33,567 shares during the last quarter. Hedge funds and other institutional investors own 98.31% of the company’s stock.

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.