UBS Group Boosts Applied Therapeutics (NASDAQ:APLT) Price Target to $13.00

Applied Therapeutics (NASDAQ:APLT) had its price target lifted by UBS Group from $12.00 to $13.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also recently commented on APLT. Citigroup increased their price target on Applied Therapeutics from $5.00 to $7.00 and gave the company a buy rating in a research note on Friday, February 16th. Leerink Partnrs reissued an outperform rating on shares of Applied Therapeutics in a report on Thursday, February 22nd. Finally, SVB Leerink began coverage on Applied Therapeutics in a report on Thursday, February 22nd. They set an outperform rating and a $12.00 price objective on the stock.

Applied Therapeutics Price Performance

APLT stock traded down $0.06 during trading on Friday, reaching $5.96. 869,332 shares of the company were exchanged, compared to its average volume of 2,417,254. The company has a market capitalization of $631.10 million, a price-to-earnings ratio of -4.41 and a beta of 1.82. The company has a 50-day moving average of $4.25 and a two-hundred day moving average of $3.07. Applied Therapeutics has a twelve month low of $0.76 and a twelve month high of $9.39.

Insider Buying and Selling

In related news, insider Riccardo Perfetti sold 110,804 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $5.39, for a total transaction of $597,233.56. Following the completion of the transaction, the insider now directly owns 1,031,537 shares of the company’s stock, valued at approximately $5,559,984.43. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Riccardo Perfetti sold 110,804 shares of Applied Therapeutics stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $5.39, for a total value of $597,233.56. Following the completion of the transaction, the insider now directly owns 1,031,537 shares of the company’s stock, valued at approximately $5,559,984.43. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Leslie D. Funtleyder sold 28,727 shares of Applied Therapeutics stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $5.39, for a total value of $154,838.53. Following the completion of the transaction, the chief financial officer now directly owns 308,421 shares of the company’s stock, valued at $1,662,389.19. The disclosure for this sale can be found here. Insiders sold a total of 458,104 shares of company stock valued at $2,469,181 in the last three months. Insiders own 19.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in APLT. Charles Schwab Investment Management Inc. bought a new position in shares of Applied Therapeutics in the 2nd quarter worth about $31,000. Vontobel Holding Ltd. bought a new stake in Applied Therapeutics in the 4th quarter valued at about $34,000. Commonwealth Equity Services LLC bought a new stake in Applied Therapeutics in the 3rd quarter valued at about $34,000. Balyasny Asset Management L.P. bought a new stake in Applied Therapeutics in the 4th quarter valued at about $36,000. Finally, Goldman Sachs Group Inc. bought a new stake in Applied Therapeutics in the 4th quarter valued at about $56,000. 71.83% of the stock is owned by institutional investors.

About Applied Therapeutics

Applied Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops novel products to target central nervous system rare disease and diabetic complications in the United States. Its lead product candidate is AT-007 that has completed phase III 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.