Leerink Partners analyst Joseph Schwartz reiterated a Buy rating on Applied Therapeutics (APLT – Research Report) on May 13 and set a price target of $3.00.
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Joseph Schwartz has given his Buy rating due to a combination of factors that highlight Applied Therapeutics’ strategic advancements and potential. The company has shown significant progress in addressing regulatory challenges, particularly with the new management team focusing on operational, regulatory, and clinical goals. This includes their efforts to advance govorestat in multiple indications such as SORD deficiency and galactosemia, where they are preparing for future regulatory interactions.
Furthermore, Applied Therapeutics is set to present comprehensive clinical data from their Phase 3 INSPIRE study at a prominent conference, which could bolster their case for regulatory approval. The company’s proactive approach in responding to previous regulatory issues, along with their commitment to ensuring data integrity, strengthens their position in the market. These strategic moves, coupled with the potential for using the accelerated approval pathway, contribute to the positive outlook and justify the Buy rating.
APLT’s price has also changed dramatically for the past six months – from $8.920 to $0.440, which is a -95.07% drop .