Rare Disease-Focused Applied Therapeutics' Lead Candidate Govorestat Has Blockbuster Potential, Analyst Sees 140% Stock Upside
Portfolio Pulse from Vandana Singh
William Blair initiated coverage on Applied Therapeutics Inc. (NASDAQ:APLT), highlighting its lead candidate govorestat's blockbuster potential and predicting a 140% stock upside. The analyst gave an Outperform rating with a fair value estimate of $14 per share. The FDA extended the review period for govorestat by three months, with a potential market launch in 2025. Applied Therapeutics is also developing AT-001 for diabetic cardiomyopathy, which has significant market potential. The company has sufficient funds to operate into 2026.
July 31, 2024 | 6:38 pm
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William Blair initiated coverage on Applied Therapeutics with an Outperform rating, citing the blockbuster potential of its lead candidate govorestat and predicting a 140% stock upside. The FDA extended the review period for govorestat by three months, with a potential market launch in 2025. The company is also developing AT-001 for diabetic cardiomyopathy, which has significant market potential. Applied Therapeutics has sufficient funds to operate into 2026.
The analyst's positive outlook and high fair value estimate, combined with the potential blockbuster status of govorestat and the company's strong financial position, are likely to drive short-term stock price appreciation.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100