Applied Therapeutics Inc. (NASDAQ:APLT) Given Average Recommendation of “Reduce” by Analysts

Shares of Applied Therapeutics Inc. (NASDAQ:APLT) have earned an average recommendation of “Reduce” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $1.25.

A number of brokerages have recently issued reports on APLT. Baird R W cut Applied Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, December 12th. Leerink Partnrs downgraded shares of Applied Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 3rd. Leerink Partners reissued a “market perform” rating and issued a $1.00 target price (down previously from $2.00) on shares of Applied Therapeutics in a research note on Wednesday, December 3rd. Robert W. Baird lowered shares of Applied Therapeutics from an “outperform” rating to a “neutral” rating in a report on Friday, December 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Applied Therapeutics in a report on Monday, December 22nd.

Applied Therapeutics Price Performance

APLT opened at $0.11 on Monday. Applied Therapeutics has a 12 month low of $0.10 and a 12 month high of $1.50. The business has a 50-day moving average of $0.54 and a two-hundred day moving average of $0.54. The stock has a market capitalization of $16.44 million, a price-to-earnings ratio of -1.14 and a beta of 2.00.

Applied Therapeutics (NASDAQ:APLT) last issued its earnings results on Thursday, November 13th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.02. The firm had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $0.25 million. Equities research analysts anticipate that Applied Therapeutics will post -0.65 earnings per share for the current year.

Institutional Investors Weigh In On Applied Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Propel Bio Management LLC grew its stake in shares of Applied Therapeutics by 17.4% during the first quarter. Propel Bio Management LLC now owns 11,285,420 shares of the company’s stock valued at $5,517,000 after acquiring an additional 1,670,000 shares in the last quarter. Nuveen LLC purchased a new position in Applied Therapeutics in the first quarter valued at about $137,000. Alyeska Investment Group L.P. boosted its holdings in Applied Therapeutics by 14.8% in the first quarter. Alyeska Investment Group L.P. now owns 3,107,497 shares of the company’s stock valued at $1,519,000 after purchasing an additional 400,000 shares during the last quarter. HighTower Advisors LLC acquired a new stake in Applied Therapeutics during the 1st quarter valued at approximately $59,000. Finally, CreativeOne Wealth LLC increased its holdings in Applied Therapeutics by 132.2% during the 1st quarter. CreativeOne Wealth LLC now owns 50,413 shares of the company’s stock worth $25,000 after purchasing an additional 28,701 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 is a clinical-stage biopharmaceutical company dedicated to the discovery and development of novel small-molecule therapies for genetically defined diseases. Its research strategy centers on structure-based drug design and proprietary screening technologies aimed at correcting underlying metabolic dysfunction in disorders characterized by enzyme deficiencies and toxic metabolite accumulation.

The company’s lead investigational candidate, AT-007, is an aldose reductase inhibitor engineered to cross the blood–brain barrier and is currently in clinical development for classic galactosemia.