William Blair Equities Analysts Raise Earnings Estimates for Applied Therapeutics, Inc. (NASDAQ:APLT)

Applied Therapeutics, Inc. (NASDAQ:APLT) – Equities research analysts at William Blair lifted their Q3 2024 earnings per share estimates for Applied Therapeutics in a research note issued to investors on Wednesday, August 7th. William Blair analyst T. Lugo now anticipates that the company will earn ($0.11) per share for the quarter, up from their prior forecast of ($0.12). William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Applied Therapeutics’ current full-year earnings is ($0.59) per share. William Blair also issued estimates for Applied Therapeutics’ Q4 2024 earnings at ($0.11) EPS, FY2024 earnings at ($0.44) EPS and FY2025 earnings at ($0.35) EPS.

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $12.00 price target on shares of Applied Therapeutics in a research note on Wednesday, July 17th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $11.00.

Applied Therapeutics Trading Up 5.5 %

NASDAQ APLT opened at $6.15 on Monday. Applied Therapeutics has a 1-year low of $1.18 and a 1-year high of $9.39. The company has a market capitalization of $702.74 million, a PE ratio of -3.34 and a beta of 1.99. The firm’s fifty day simple moving average is $5.15 and its 200-day simple moving average is $5.04.

Hedge Funds Weigh In On Applied Therapeutics

A number of institutional investors have recently made changes to their positions in the business. Vontobel Holding Ltd. bought a new position in shares of Applied Therapeutics in the fourth quarter worth about $34,000. Victory Capital Management Inc. bought a new position in shares of Applied Therapeutics in the second quarter worth about $54,000. Principal Financial Group Inc. bought a new position in shares of Applied Therapeutics in the second quarter worth about $54,000. SG Americas Securities LLC bought a new position in shares of Applied Therapeutics in the second quarter worth about $87,000. Finally, Jump Financial LLC bought a new position in shares of Applied Therapeutics in the fourth quarter worth about $81,000. 98.31% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Applied Therapeutics

In other Applied Therapeutics news, CEO Shoshana Shendelman sold 61,795 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $4.32, for a total transaction of $266,954.40. Following the transaction, the chief executive officer now directly owns 3,756,019 shares in the company, valued at $16,226,002.08. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Applied Therapeutics news, CEO Shoshana Shendelman sold 61,795 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $4.32, for a total transaction of $266,954.40. Following the transaction, the chief executive officer now directly owns 3,756,019 shares in the company, valued at $16,226,002.08. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Leslie D. Funtleyder sold 16,980 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $4.32, for a total value of $73,353.60. Following the transaction, the chief financial officer now owns 291,441 shares in the company, valued at $1,259,025.12. The disclosure for this sale can be found here. Insiders have sold a total of 250,778 shares of company stock worth $1,066,861 over the last three months. Corporate insiders own 8.60% 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.