Applied Therapeutics (NASDAQ:APLT) Issues Quarterly Earnings Results

Applied Therapeutics (NASDAQ:APLT) posted its quarterly earnings results on Thursday. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02, FiscalAI reports. The business had revenue of $1.00 million during the quarter, compared to the consensus estimate of $0.25 million.

Applied Therapeutics Price Performance

Shares of NASDAQ APLT traded down $0.57 during midday trading on Thursday, hitting $0.34. 24,510,361 shares of the company’s stock were exchanged, compared to its average volume of 3,446,972. Applied Therapeutics has a twelve month low of $0.30 and a twelve month high of $10.48. The firm has a market cap of $48.53 million, a P/E ratio of -0.75 and a beta of 2.09. The stock’s 50 day moving average price is $0.88 and its 200-day moving average price is $0.58.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on APLT shares. Wall Street Zen upgraded shares of Applied Therapeutics to a “sell” rating in a research note on Saturday, July 26th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Applied Therapeutics in a report on Tuesday, October 14th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $4.13.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Applied Therapeutics by 7.8% during the third quarter. Vanguard Group Inc. now owns 5,102,689 shares of the company’s stock valued at $3,087,000 after purchasing an additional 368,676 shares in the last quarter. Marshall Wace LLP increased its stake in Applied Therapeutics by 18.1% during the 2nd quarter. Marshall Wace LLP now owns 1,544,191 shares of the company’s stock valued at $479,000 after buying an additional 236,810 shares during the period. Finally, AQR Capital Management LLC bought a new stake in shares of Applied Therapeutics during the 1st quarter worth about $280,000. 98.31% of the stock is owned by institutional investors and hedge funds.

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.