RBC Capital initiated coverage of Applied Therapeutics with an Outperform rating and $12 price target. RBC believes Applied’s lead drug, govorestat, is “well-positioned for success” in the orphan diseases galactosemia and SORD deficiency and the firm sees “ample room for additional appreciation” in the shares given its forecast for $650M-plus in aggregate peak revenue. The firm expects continued upside momentum and sees “a favorable setup into/through upcoming regulatory decisions,” the analyst tells investors.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on APLT:
- Applied Therapeutics files to sell 14.29M shares of common stock for holders
- Largest borrow rate increases among liquid names
- Applied Therapeutics Reveals Strategy and Positive Trial Update
- Applied Therapeutics’ New Accounting & Financial Operations Risk – A Cause for Worry?
- Applied Therapeutics price target raised to $12 from $4 at UBS
