Applied Therapeutics (NASDAQ:APLT) Rating Increased to Hold at Zacks Investment Research


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Applied Therapeutics (NASDAQ:APLT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday, 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. “

A number of other research firms have also recently commented on APLT. Barclays cut their target price on Applied Therapeutics from $64.00 to $44.00 in a research report on Tuesday, November 17th. Truist started coverage on Applied Therapeutics in a research report on Thursday, October 8th. They issued a “buy” rating and a $85.00 price target on the stock. ValuEngine upgraded Applied Therapeutics from a “hold” rating to a “buy” rating in a research report on Monday, October 19th. Finally, BidaskClub cut Applied Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, January 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $61.60.

NASDAQ:APLT traded down $1.54 during midday trading on Wednesday, reaching $21.98. The company had a trading volume of 6,421 shares, compared to its average volume of 85,971. The firm has a market capitalization of $494.29 million, a price-to-earnings ratio of -4.62 and a beta of 1.27. The stock’s fifty day simple moving average is $22.35 and its 200-day simple moving average is $23.66. Applied Therapeutics has a 12-month low of $13.58 and a 12-month high of $57.39.

Applied Therapeutics (NASDAQ:APLT) last posted its earnings results on Tuesday, November 17th. The company reported ($1.33) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.02) by ($0.31). As a group, equities research analysts predict that Applied Therapeutics will post -4.51 earnings per share for the current fiscal year.

In other Applied Therapeutics news, insider Riccardo Perfetti sold 1,660 shares of the business’s stock in a transaction that occurred on Friday, November 20th. The stock was sold at an average price of $19.07, for a total transaction of $31,656.20. Following the transaction, the insider now owns 1,660 shares in the company, valued at approximately $31,656.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 28,930 shares of company stock worth $657,774 in the last 90 days. 31.50% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC increased its stake in shares of Applied Therapeutics by 1,399.6% during the third quarter. Cubist Systematic Strategies LLC now owns 13,541 shares of the company’s stock valued at $281,000 after acquiring an additional 12,638 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Applied Therapeutics by 6.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 34,195 shares of the company’s stock worth $710,000 after acquiring an additional 2,180 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Applied Therapeutics in the third quarter worth about $1,122,000. BNP Paribas Arbitrage SA boosted its holdings in Applied Therapeutics by 510.2% in the third quarter. BNP Paribas Arbitrage SA now owns 3,167 shares of the company’s stock worth $66,000 after acquiring an additional 2,648 shares in the last quarter. Finally, Emerald Advisers LLC boosted its holdings in Applied Therapeutics by 25.8% in the third quarter. Emerald Advisers LLC now owns 505,075 shares of the company’s stock worth $10,485,000 after acquiring an additional 103,744 shares in the last quarter. Institutional investors own 54.25% of the company’s stock.

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-007 that is in phase I/II for the treatment of galactosemia; 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; and AT-003 that is in phase I clinical trial for the treatment diabetic retinopathy.

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