RBC Capital Holds Positive Outlook on Applied Therapeutics Stock, Establishes $12 Price TargetImplications of Brexit on the UK Economy By Investing.com

RBC Capital Holds Positive Outlook on Applied Therapeutics Stock, Establishes  Price TargetImplications of Brexit on the UK Economy By Investing.com

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Tuesday – RBC Capital Markets initiated coverage on shares of Applied Therapeutics (NASDAQ:), granting an Outperform rating and setting a price target of $12.00. The company’s confidence is based on the potential success of Applied Therapeutics’ lead drug, govorestat, which targets orphan diseases such as galactosemia and SORD deficiency.

The analyst’s perspective highlights the company’s resilience in overcoming development and regulatory hurdles. With the advancement of its lead drug, govorestat, in the pipeline, the company anticipates successful positioning in the market for these rare diseases. Despite Applied Therapeutics’ recent share price appreciation due to renewed interest in its development story, RBC Capital sees further growth potential.

The company’s valuation is supported by the substantial revenue opportunity, estimated at over $650 million at peak Govorestat sales. This projection is based on comprehensive data supporting the effectiveness and safety of the drug. RBC Capital expects the stock to continue to gain value, driven by positive momentum and an advantageous position ahead of key regulatory decisions.

Investors are encouraged by RBC Capital’s outlook, which suggests that Applied Therapeutics shares have yet to reach their full potential. Anticipation of the next regulatory steps could serve as a catalyst for further appreciation of the stock’s value.

In conclusion, RBC Capital’s launch of Applied Therapeutics with an outperform rating and a $12 price target reflects a positive view of the company’s prospects. The company’s analysis indicates a bright future for Applied Therapeutics, particularly with its lead drug, govorestat, as it takes the final steps before a potential market entry for the treatment of rare metabolic disorders.

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