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Applied Therapeutics (NASDAQ:APLTGet Rating) issued its quarterly earnings results on Thursday. The company reported ($0.88) earnings per share (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 stock has a 50-day moving average of $2.00 and a 200-day moving average of $5.44.

Several brokerages have issued reports on APLT. Zacks Investment Research upgraded shares of Applied Therapeutics from a “hold” rating to a “buy” rating and set a $2.00 target price for the company in a research report on Wednesday, March 2nd. Barclays dropped their price objective on shares of Applied Therapeutics from $7.00 to $2.50 and set an “equal weight” rating for the company in a report on Monday, March 21st. Finally, Truist Financial lowered their price target 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 issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $12.08.

In related news, insider Riccardo Perfetti purchased 30,000 shares of the firm’s stock in a transaction on Wednesday, March 23rd. The shares were acquired at an average cost of $1.97 per share, with a total value of $59,100.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 27.20% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its stake in shares of Applied Therapeutics by 77.3% in the third quarter. Royal Bank of Canada now owns 2,151 shares of the company’s stock worth $36,000 after purchasing an additional 938 shares during the last quarter. Bank of America Corp DE grew its position in shares of Applied Therapeutics by 13.1% in the 2nd quarter. Bank of America Corp DE now owns 12,877 shares of the company’s stock worth $268,000 after buying an additional 1,495 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Applied Therapeutics by 308.2% during the third quarter. BNP Paribas Arbitrage SA now owns 3,135 shares of the company’s stock valued at $52,000 after buying an additional 2,367 shares during the period. Morgan Stanley increased its stake in shares of Applied Therapeutics by 21.4% during the first quarter. Morgan Stanley now owns 14,061 shares of the company’s stock valued at $264,000 after buying an additional 2,483 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Applied Therapeutics during the third quarter valued at approximately $67,000. Hedge funds and other institutional investors own 95.51% of the company’s stock.

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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