Applied Therapeutics (NASDAQ:APLT) Announces Earnings Results, Misses Estimates By $0.05 EPS

Applied Therapeutics (NASDAQ:APLT – Get Rating) issued its earnings results on Thursday. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.05), MarketWatch Earnings reports.

NASDAQ:APLT opened at $1.72 on Friday. Applied Therapeutics has a 1-year low of $1.45 and a 1-year high of $25.59. The business’s fifty day moving average price is $2.00 and its 200 day moving average price is $5.44.

In other Applied Therapeutics news, insider Riccardo Perfetti purchased 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 23rd. The shares were purchased at an average cost of $1.97 per share, with a total value of $59,100.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 27.20% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Royal Bank of Canada grew its stake in Applied Therapeutics by 77.3% in the third quarter. Royal Bank of Canada now owns 2,151 shares of the company’s stock valued at $36,000 after purchasing an additional 938 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in Applied Therapeutics by 308.2% in the third quarter. BNP Paribas Arbitrage SA now owns 3,135 shares of the company’s stock valued at $52,000 after purchasing an additional 2,367 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Applied Therapeutics in the third quarter valued at about $67,000. Wells Fargo & Company MN grew its stake in Applied Therapeutics by 385,900.0% in the fourth quarter. Wells Fargo & Company MN now owns 7,720 shares of the company’s stock valued at $69,000 after purchasing an additional 7,718 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Applied Therapeutics in the first quarter valued at about $70,000. Hedge funds and other institutional investors own 95.51% of the company’s stock.

A number of equities analysts have commented on the company. Truist Financial decreased their target price on Applied Therapeutics to $6.00 in a research note on Wednesday, April 13th. Barclays cut their price target on Applied Therapeutics from $7.00 to $2.50 and set an “equal weight” rating on the stock in a report on Monday, March 21st. Finally, Zacks Investment Research raised Applied Therapeutics from a “hold” rating to a “buy” rating and set a $2.00 price target on the stock in a report on Wednesday, March 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $12.08.

About Applied Therapeutics (Get Rating)

Applied Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops novel products to target cardiovascular disease, galactosemia, and diabetic complications. Its lead product candidate is AT-007 that has completed phase 1/2 for the treatment of galactosemia in healthy volunteers and adults, as well as is in pediatric clinical study for the treatment of galactosemia in kids; for treating sorbitol dehydrogenase deficiency; and for the treatment of phosphomannomutase enzyme-CDG.

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