Applied Therapeutics (NASDAQ:APLT) Rating Reiterated by Royal Bank of Canada

Applied Therapeutics (NASDAQ:APLT)‘s stock had its “outperform” rating reissued by stock analysts at Royal Bank of Canada in a research note issued to investors on Thursday, Benzinga reports. They presently have a $12.00 target price on the stock. Royal Bank of Canada’s target price points to a potential upside of 132.56% from the stock’s current price.

Several other analysts also recently commented on the stock. SVB Leerink started coverage on shares of Applied Therapeutics in a research report on Thursday, February 22nd. They issued an “outperform” rating and a $12.00 price target for the company. Leerink Partnrs restated an “outperform” rating on shares of Applied Therapeutics in a research report on Thursday, February 22nd. Citigroup upped their price objective on shares of Applied Therapeutics from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Finally, UBS Group upped their price objective on shares of Applied Therapeutics from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Applied Therapeutics has a consensus rating of “Buy” and an average price target of $11.60.

Applied Therapeutics Price Performance

APLT stock opened at $5.16 on Thursday. The company has a fifty day moving average price of $5.58 and a 200 day moving average price of $3.62. Applied Therapeutics has a 12 month low of $0.78 and a 12 month high of $9.39. The company has a market cap of $546.39 million, a price-to-earnings ratio of -3.82 and a beta of 1.81.

Applied Therapeutics (NASDAQ:APLT) last released its quarterly earnings results on Wednesday, March 6th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.18). The company had revenue of ($0.67) million for the quarter. As a group, analysts anticipate that Applied Therapeutics will post -0.53 earnings per share for the current year.

Insider Activity

In other news, insider Riccardo Perfetti sold 110,804 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $5.39, for a total value of $597,233.56. Following the completion of the transaction, the insider now owns 1,031,537 shares in the company, valued at approximately $5,559,984.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Applied Therapeutics news, CEO Shoshana Shendelman sold 318,573 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $5.39, for a total transaction of $1,717,108.47. Following the completion of the transaction, the chief executive officer now directly owns 3,817,814 shares in the company, valued at approximately $20,578,017.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Riccardo Perfetti sold 110,804 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $5.39, for a total transaction of $597,233.56. Following the transaction, the insider now owns 1,031,537 shares of the company’s stock, valued at $5,559,984.43. The disclosure for this sale can be found here. Insiders sold 458,104 shares of company stock worth $2,469,181 in the last 90 days. 19.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Applied Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Applied Therapeutics by 126.1% during the 4th quarter. Vanguard Group Inc. now owns 3,230,481 shares of the company’s stock valued at $10,822,000 after acquiring an additional 1,801,827 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in Applied Therapeutics during the 4th quarter valued at about $56,000. Opaleye Management Inc. increased its holdings in Applied Therapeutics by 22.3% during the 4th quarter. Opaleye Management Inc. now owns 1,092,500 shares of the company’s stock valued at $3,660,000 after acquiring an additional 199,500 shares in the last quarter. Bridgeway Capital Management LLC grew its holdings in shares of Applied Therapeutics by 34.8% during the fourth quarter. Bridgeway Capital Management LLC now owns 193,800 shares of the company’s stock worth $649,000 after buying an additional 50,000 shares in the last quarter. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Applied Therapeutics during the fourth quarter worth about $36,000. 98.31% of the stock is currently owned by hedge funds and other institutional investors.

About Applied Therapeutics

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.