Citi raised the firm’s price target on Applied Therapeutics (APLT) to $13 from $11 and keeps a Buy rating on the shares after having updated its model for reported Q3 financial results. The firm notes it currently has a positive catalyst watch for the approval of govorestat in galactosemia and continues to see 85% odds of success. Assuming the potential FDA approval this week, leading to initial revenue production in 2025, plus the option to monetize the associated PRV, the firm believes the company could reach cash flow breakeven in 2026, the analyst noted.
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