Applied Therapeutics Inc [NASDAQ: APLT] stock went on an upward path that rose over 32.62% on Wednesday, amounting to a one-week price increase of more than 44.25%. The company report on February 28, 2024 at 8:05 AM that Applied Therapeutics Announces $100 Million Private Placement.
Financing includes significant participation from a number of large healthcare dedicated institutional and mutual fund investors.
Net proceeds, along with existing cash and cash equivalents, are expected to extend cash runway into 2026.
Over the last 12 months, APLT stock rose by 647.47%. The one-year Applied Therapeutics Inc stock forecast points to a potential upside of 32.73. The average equity rating for APLT stock is currently 1.33, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $571.50 million, with 77.23 million shares outstanding and 52.95 million shares in the current float. Compared to the average trading volume of 2.01M shares, APLT stock reached a trading volume of 13506260 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Applied Therapeutics Inc [APLT]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for APLT shares is $11.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on APLT stock is a recommendation set at 1.33. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Leerink Partners have made an estimate for Applied Therapeutics Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 22, 2024. While these analysts kept the previous recommendation, Barclays raised their target price from $44 to $7. The new note on the price target was released on January 04, 2022, representing the official price target for Applied Therapeutics Inc stock. Previously, the target price had yet another drop from $16 to $10, while Goldman kept a Sell rating on APLT stock.
The Average True Range (ATR) for Applied Therapeutics Inc is set at 0.74, with the Price to Sales ratio for APLT stock in the period of the last 12 months amounting to 53.61.
APLT Stock Performance Analysis:
Applied Therapeutics Inc [APLT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 44.25. With this latest performance, APLT shares gained by 146.67% in over the last four-week period, additionally plugging by 436.23% over the last 6 months – not to mention a rise of 647.47% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for APLT stock in for the last two-week period is set at 81.89, with the RSI for the last a single of trading hit 84.80, and the three-weeks RSI is set at 78.94 for Applied Therapeutics Inc [APLT]. The present Moving Average for the last 50 days of trading for this stock 3.35, while it was recorded at 5.92 for the last single week of trading, and 2.23 for the last 200 days.
Insight into Applied Therapeutics Inc Fundamentals:
Applied Therapeutics Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 0.80.
APLT Stock EPS
With the latest financial reports released by the company, Applied Therapeutics Inc posted -0.16/share EPS, while the average EPS was predicted by analysts to be reported at -0.46/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 65.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for APLT.
Applied Therapeutics Inc [APLT] Institutonal Ownership Details
The top three institutional holders of APLT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in APLT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in APLT stock with ownership which is approximately 5.8325%.
