Applied Therapeutics Inc [NASDAQ: APLT] loss -4.67% or -0.29 points to close at $5.92 with a heavy trading volume of 3061333 shares. The company report on April 4, 2024 at 7:00 AM that Applied Therapeutics to Present Results from Phase 3 ARISE-HF Study in Diabetic Cardiomyopathy at ACC 2024.
The Company announced topline results from ARISE-HF in January 2024, demonstrating a strong trend in stabilizing cardiac functional capacity with AT-001 treatment, and a statistically significant difference in cardiac functional capacity in a prespecified subgroup of patients not receiving concomitant treatment with an SGLT2 or GLP-1 while preventing clinically significant worsening. The presentation at ACC will also include important data on progression to overt heart failure and other secondary outcome measures. AT-001 treatment prevented progression to overt heart failure in patients with DbCM as compared to placebo (p=0.0285). Detailed safety data will also be presented, demonstrating that AT-001 was safe and well tolerated in a large cohort of patients, providing proof of concept that the technology has overcome the selectivity and safety issues of “old” aldose reductase inhibitors. The oral presentation at ACC will be followed by simultaneous publication of the study results in the Journal of the American College of Cardiology Journal (JACC).
The daily chart for APLT points out that the company has recorded 143.62% gains over the past six months.
If we look at the average trading volume of 2.16M shares, APLT reached to a volume of 3061333 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about 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 $11.60 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 1.20. 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.
RBC Capital Mkts have made an estimate for Applied Therapeutics Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on March 26, 2024. While these analysts kept the previous recommendation, Leerink Partners raised their target price to Outperform. The new note on the price target was released on February 22, 2024, representing the official price target for Applied Therapeutics Inc stock. Previously, the target price had yet another drop from $44 to $7, while Barclays kept a Equal Weight rating on APLT stock. On August 27, 2021, analysts decreased their price target for APLT shares from 16 to 10.
The Average True Range (ATR) for Applied Therapeutics Inc is set at 0.59, with the Price to Sales ratio for APLT stock in the period of the last 12 months amounting to 58.81.
Trading performance analysis for APLT stock
Applied Therapeutics Inc [APLT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.58. With this latest performance, APLT shares dropped by -4.05% in over the last four-week period, additionally plugging by 143.62% over the last 6 months – not to mention a rise of 642.79% 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 47.25, with the RSI for the last a single of trading hit 38.07, and the three-weeks RSI is set at 52.05 for Applied Therapeutics Inc [APLT]. The present Moving Average for the last 50 days of trading for this stock 5.16, while it was recorded at 6.33 for the last single week of trading, and 2.86 for the last 200 days.
Applied Therapeutics Inc [APLT]: A deeper dive into fundamental analysis
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.
Applied Therapeutics Inc [APLT]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Applied Therapeutics Inc posted -0.18/share EPS, while the average EPS was predicted by analysts to be reported at -0.31/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 41.90%. 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.
An analysis of Institutional ownership at Applied Therapeutics Inc [APLT]
The top three institutional holders of APLT stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in APLT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in APLT stock with ownership which is approximately 5.8386%.
