Applied Therapeutics (NASDAQ:APLT) Downgraded by Zacks Investment Research to Hold

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Zacks Investment Research cut shares of Applied Therapeutics (NASDAQ:APLT) from a buy rating to a hold rating in a research report sent to investors on Monday, Zacks.com reports.

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. “

NASDAQ:APLT remained flat at $$10.16 on Monday. 226 shares of the company’s stock were exchanged, compared to its average volume of 23,442. The firm’s 50-day simple moving average is $10.17. Applied Therapeutics has a 52 week low of $7.95 and a 52 week high of $11.53.

Applied Therapeutics (NASDAQ:APLT) last released its earnings results on Monday, August 12th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.48) by ($0.12). On average, equities analysts anticipate that Applied Therapeutics will post -1.73 EPS for the current year.

Large investors have recently added to or reduced their stakes in the business. Emerald Mutual Fund Advisers Trust purchased a new position in Applied Therapeutics in the 2nd quarter valued at about $3,798,000. Sofinnova Investments Inc. purchased a new position in shares of Applied Therapeutics during the 2nd quarter worth about $1,170,000. Bank of New York Mellon Corp purchased a new position in shares of Applied Therapeutics during the 2nd quarter worth about $172,000. BlackRock Inc. purchased a new position in shares of Applied Therapeutics during the 2nd quarter worth about $228,000. Finally, Northern Trust Corp purchased a new position in shares of Applied Therapeutics during the 2nd quarter worth about $59,000. Institutional investors own 12.88% of the company’s stock.

About Applied Therapeutics

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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