Applied Therapeutics Inc (NASDAQ:APLT) stock has reached a 52-week low, trading at $0.78, with a market capitalization of $91.81 million, as the company faces a challenging market environment. According to InvestingPro analysis, the stock's RSI indicates oversold territory, with analyst price targets ranging from $1.50 to $13.00. This new low comes as a significant downturn for the biotechnology firm, which has seen its stock price plummet by -74.87% over the past year. Investors have been cautious, reflecting broader market trends and concerns specific to the company's performance and sector prospects. With a beta of 1.72 and a WEAK Financial Health Score from InvestingPro, the 52-week low marks a critical point for Applied Therapeutics as it navigates through a period of volatility and seeks to regain investor confidence. Discover 14 additional key insights available on InvestingPro, including detailed valuation metrics and growth prospects.
In other recent news, Applied Therapeutics has seen a series of significant developments. The company's revenue for the fiscal first quarter increased by 67% year-over-year to $60.7 million, despite an adjusted net loss of $21.6 million. There have been substantial leadership changes with the appointment of John H. Johnson as Executive Chairman and Les Funtleyder as Interim CEO, following the resignation of Dr. Shoshana Shendelman.
Analysts from William Blair, Baird, and RBC Capital Markets have downgraded the company's stock due to concerns over revenue generation and regulatory hurdles. The company has withdrawn its Marketing Authorization Application for the treatment of galactosemia and decided not to submit a New Drug Application for SORD in the first quarter, adding to the uncertainty of its revenue prospects.
Applied Therapeutics also faces scrutiny from the FDA regarding the data integrity and risk profile for its drug, govorestat. This has led to a delay in its New Drug Application submission for the treatment of SORD Deficiency. Despite these challenges, the analysts acknowledge the potential value in the company's SORD deficiency program.
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