APLT - Applied Therapeutics: Expect Near Term Selling Pressure Before Further Positive Catalysts
Applied Therapeutics, Inc. (APLT) increased 34% to $35.18 on Wednesday after announcing positive topline results from the Phase 2 portion of its ACTION-Galactosemia study of AT-007 for adult Galactosemia patients. The data was so compelling according to the company that it plans to apply for regulatory approval with the FDA in the second half of 2020. This announcement was well received by the market, with Baird analyst Brian Skorney increasing his target on APLT from $24 to $43.
While the company's successful trial and accelerated marketing plan are good pieces of news for