Applied Therapeutics (NASDAQ:APLT) Stock Price Up 5.5% – Should You Buy?

Shares of Applied Therapeutics, Inc. (NASDAQ:APLT) rose 5.5% on Tuesday . The stock traded as high as $10.48 and last traded at $10.12. Approximately 1,403,229 shares were traded during trading, a decline of 24% from the average daily volume of 1,836,035 shares. The stock had previously closed at $9.59.

Analyst Upgrades and Downgrades

APLT has been the subject of several recent analyst reports. William Blair upgraded Applied Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. Leerink Partners upped their target price on Applied Therapeutics from $11.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. Finally, Citigroup upped their target price on Applied Therapeutics from $8.00 to $11.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $12.50.

Applied Therapeutics Stock Down 16.1 %

The company has a market cap of $997.21 million, a price-to-earnings ratio of -5.32 and a beta of 2.01. The firm has a 50 day moving average price of $8.81 and a two-hundred day moving average price of $6.44.

Institutional Investors Weigh In On Applied Therapeutics

Several large investors have recently added to or reduced their stakes in APLT. Opaleye Management Inc. grew its stake in Applied Therapeutics by 62.0% during the first quarter. Opaleye Management Inc. now owns 1,770,000 shares of the company’s stock worth $12,036,000 after purchasing an additional 677,500 shares during the period. SG Americas Securities LLC bought a new position in Applied Therapeutics in the second quarter worth approximately $87,000. Hennion & Walsh Asset Management Inc. bought a new position in Applied Therapeutics in the second quarter worth approximately $920,000. Bank of New York Mellon Corp bought a new position in Applied Therapeutics in the second quarter worth approximately $1,325,000. Finally, Principal Financial Group Inc. bought a new position in Applied Therapeutics in the second quarter worth approximately $54,000. Institutional investors and hedge funds 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.