Applied Therapeutics Inc.

Company Overview:  Applied Therapeutics, Inc. (NASDAQ: APLT) is a clinical-stage biopharmaceutical firm with a strong emphasis on creating a portfolio of product candidates aimed at well-established molecular targets in areas of medicine where significant unmet needs exist. The primary molecular target of the company is aldose reductase (AR), an enzyme responsible for converting glucose into sorbitol when exposed to oxidative stress conditions. The company's product lineup comprises AT-007, AT-001, and AT-003.

As per our previous US Daily report published on ‘APLT’ on 21^st September 2023, Kalkine provided a ‘Speculative Buy’ stance on the stock at USD 2.46 based on “latest financial results, correction in the stock price, industry above margins, upside indicated by valuation and key risks associated with the business” and the stock price has now moved by ~11.38% since then and the price has crossed resistance 1.

Noted below are the details of support and resistance levels provided in our previous report:

APLT’s Daily Chart

Considering the resistance around the range of USD 2.90 – USD 3.10, resistance 1 attainment, current trading levels, risks associated, and volatile market conditions on the back of rising interest rates, a ‘Sell’ rating is assigned to the “APLT” at the current market price of USD 2.74 (as of 28 September 2023, at 09:50 am PDT).  

Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is September 28, 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level that the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’

Disclaimer

The advice given by Kalkine Canada Advisory Services Inc. and provided on this website is general information only and it does not take into account your investment objectives, financial situation and the particular needs of any particular person. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. The website www.kalkine.ca is published by Kalkine Canada Advisory Services Inc. The link to our Terms & Conditions has been provided please go through them. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations later.