Applied Therapeutics (NASDAQ:APLT) Rating Lowered to “Neutral” at Robert W. Baird

Applied Therapeutics (NASDAQ:APLT) was downgraded by stock analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a research note issued to investors on Friday, Marketbeat.com reports.

Several other analysts also recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Applied Therapeutics in a research report on Monday, December 8th. Leerink Partnrs downgraded shares of Applied Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 3rd. Finally, Leerink Partners reaffirmed a “market perform” rating and set a $1.00 price target (down from $2.00) on shares of Applied Therapeutics in a research note on Wednesday, December 3rd. Six investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $1.25.

Applied Therapeutics Price Performance

Shares of NASDAQ APLT opened at $0.12 on Friday. The firm’s 50-day moving average is $0.74 and its two-hundred day moving average is $0.55. The company has a market capitalization of $16.93 million, a PE ratio of -1.17 and a beta of 1.99. Applied Therapeutics has a 12-month low of $0.11 and a 12-month high of $1.50.

Applied Therapeutics (NASDAQ:APLT) last issued its quarterly earnings data 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 company had revenue of $1.00 million for the quarter, compared to analyst estimates of $0.25 million. On average, analysts forecast that Applied Therapeutics will post -0.65 EPS for the current fiscal year.

Institutional Trading of Applied Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APLT. Propel Bio Management LLC boosted its holdings in shares of Applied Therapeutics by 17.4% in the 1st quarter. Propel Bio Management LLC now owns 11,285,420 shares of the company’s stock valued at $5,517,000 after purchasing an additional 1,670,000 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Applied Therapeutics by 91.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 10,380,590 shares of the company’s stock valued at $5,076,000 after acquiring an additional 4,959,670 shares during the last quarter. Nuveen LLC acquired a new position in Applied Therapeutics in the first quarter valued at $137,000. Alyeska Investment Group L.P. grew its position in Applied Therapeutics by 14.8% during the first quarter. Alyeska Investment Group L.P. now owns 3,107,497 shares of the company’s stock valued at $1,519,000 after acquiring an additional 400,000 shares during the period. Finally, HighTower Advisors LLC acquired a new stake in Applied Therapeutics during the first quarter worth about $59,000. Hedge funds and other institutional investors own 98.31% of the company’s stock.

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.