Applied Therapeutics (NASDAQ:APLT) Announces Earnings Results

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Applied Therapeutics (NASDAQ:APLT) issued its earnings results on Monday. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.12), Bloomberg Earnings reports.

Shares of APLT opened at $9.36 on Wednesday. Applied Therapeutics has a 1-year low of $7.95 and a 1-year high of $11.20. The company’s 50-day moving average is $8.81.

In related news, major shareholder Real Estate Equitie Alexandria purchased 975,000 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was acquired at an average cost of $10.00 per share, for a total transaction of $9,750,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joel S. Marcus purchased 150,000 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were bought at an average price of $10.00 per share, with a total value of $1,500,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 1,250,000 shares of company stock valued at $12,500,000.

A number of brokerages have weighed in on APLT. Cowen began coverage on shares of Applied Therapeutics in a research report on Monday, June 10th. They set an “outperform” rating for the company. UBS Group began coverage on shares of Applied Therapeutics in a research report on Monday, June 10th. They set a “buy” rating for the company. Citigroup began coverage on shares of Applied Therapeutics in a research report on Monday, June 10th. They set a “buy” rating and a $29.00 price target for the company. Finally, Robert W. Baird began coverage on shares of Applied Therapeutics in a research report on Monday, June 10th. They set an “outperform” rating and a $24.00 price target for the company.

Applied Therapeutics Company Profile

Applied Therapeutics, Inc, a biopharmaceutical company, develops novel products to target cardiovascular disease, galactosemia, and diabetic complications. Its lead product candidate is AT-001 that is in phase II clinical trials for treating diabetic cardiomyopathy, as well as is in phase I clinical trials to treat diabetic peripheral neuropathy.

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