Applied Therapeutics (NASDAQ:APLT) Cut to “Hold” at Leerink Partnrs

Leerink Partnrs lowered shares of Applied Therapeutics (NASDAQ:APLT) from a strong-buy rating to a hold rating in a report published on Wednesday,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. Leerink Partners reaffirmed a “market perform” rating and set a $1.00 price objective (down from $2.00) on shares of Applied Therapeutics in a report on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Applied Therapeutics in a research note on Monday. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Applied Therapeutics currently has a consensus rating of “Reduce” and a consensus price target of $1.25.

Applied Therapeutics Stock Down 5.8%

NASDAQ:APLT opened at $0.22 on Wednesday. The business’s 50-day simple moving average is $0.79 and its two-hundred day simple moving average is $0.56. Applied Therapeutics has a 52 week low of $0.20 and a 52 week high of $1.50. The stock has a market cap of $31.26 million, a PE ratio of -2.17 and a beta of 1.99.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in APLT. CreativeOne Wealth LLC lifted 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 valued at $25,000 after buying an additional 28,701 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Applied Therapeutics during the third quarter worth approximately $31,000. HighTower Advisors LLC bought a new stake in shares of Applied Therapeutics during the first quarter valued at approximately $59,000. Scientech Research LLC purchased a new stake in shares of Applied Therapeutics in the third quarter valued at approximately $64,000. Finally, Birchview Capital LP bought a new position in Applied Therapeutics in the second quarter worth approximately $87,000. Hedge funds and other institutional investors own 98.31% of the company’s stock.

Applied Therapeutics Company Profile

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.