Applied Therapeutics (NASDAQ:APLT) Issues Earnings Results

Applied Therapeutics (NASDAQ:APLT – Get Rating) posted its quarterly earnings data on Thursday. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($0.05), MarketWatch Earnings reports.

Shares of APLT stock opened at $1.72 on Friday. Applied Therapeutics has a one year low of $1.45 and a one year high of $25.59. The stock has a fifty day moving average price of $2.00 and a 200 day moving average price of $5.44.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised Applied Therapeutics from a “hold” rating to a “buy” rating and set a $2.00 price objective for the company in a research report on Wednesday, March 2nd. Barclays reduced their price objective on Applied Therapeutics from $7.00 to $2.50 and set an “equal weight” rating for the company in a research report on Monday, March 21st. Finally, Truist Financial reduced their price objective on Applied Therapeutics to $6.00 in a research report on Wednesday, April 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Applied Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $12.08.

In related news, insider Riccardo Perfetti acquired 30,000 shares of the company’s stock in a transaction on Wednesday, March 23rd. The stock was purchased at an average cost of $1.97 per share, for a total transaction of $59,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 27.20% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in APLT. Renaissance Technologies LLC raised its stake in Applied Therapeutics by 1,503.4% during the first quarter. Renaissance Technologies LLC now owns 282,200 shares of the company’s stock worth $595,000 after acquiring an additional 264,600 shares in the last quarter. BlackRock Inc. increased its stake in shares of Applied Therapeutics by 5.0% in the first quarter. BlackRock Inc. now owns 1,363,403 shares of the company’s stock valued at $2,876,000 after buying an additional 64,872 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Applied Therapeutics by 220.4% in the third quarter. Dimensional Fund Advisors LP now owns 50,184 shares of the company’s stock valued at $832,000 after buying an additional 34,521 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Applied Therapeutics in the first quarter valued at $70,000. Finally, State Street Corp increased its stake in shares of Applied Therapeutics by 8.8% in the fourth quarter. State Street Corp now owns 341,651 shares of the company’s stock valued at $3,058,000 after buying an additional 27,700 shares in the last quarter. Hedge funds and other institutional investors own 95.51% of the company’s stock.

Applied Therapeutics Company Profile (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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