William Blair analyst Sami Corwin has reiterated their neutral stance on APLT stock, giving a Hold rating on November 13.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge-fund level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Sami Corwin has given his Hold rating due to a combination of factors impacting Applied Therapeutics. The company is currently exploring strategic alternatives, such as mergers or partnerships, and has enacted a significant workforce reduction to extend its cash runway. These measures indicate a cautious approach to preserving financial resources.
Additionally, the uncertainty surrounding the future of govorestat, particularly after the company’s recent interactions with the FDA, contributes to the Hold rating. With limited cash reserves and no clear path to commercialization for govorestat, the company’s financial outlook remains uncertain. Therefore, the Hold rating reflects a balanced view of potential opportunities and risks.
In another report released on November 13, RBC Capital also maintained a Hold rating on the stock with a $1.00 price target.