In a challenging market environment, Applied Therapeutics Inc (NASDAQ:APLT) stock has reached a 52-week low, dipping to $1.85. According to InvestingPro data, the stock's RSI indicates oversold territory, while the company maintains a Fair financial health rating despite market pressures. This price level reflects a significant downturn for the company over the past year, with the stock experiencing a 1-year change of -19.42%. Investors are closely monitoring the stock as it navigates through the pressures that have led to this low point, with analyst price targets ranging from $4 to $15 suggesting potential recovery scenarios. InvestingPro subscribers have access to 14 additional investment tips and a comprehensive Pro Research Report that provides deep-dive analysis of APLT's financial health and growth prospects.
In other recent news, Applied Therapeutics has been navigating a critical period as it engages with the FDA for its upcoming NDA review in SORD deficiency. The company's stock has been downgraded by Baird and RBC Capital Markets due to regulatory hurdles. However, despite these challenges, both firms see potential in the company's SORD deficiency program.
On the financial front, Applied Digital Corporation reported a fiscal first quarter revenue of $60.7 million, marking a 67% increase year-over-year. The company's adjusted net loss was $21.6 million or $0.15 per share, which was better than the anticipated loss of $0.27 per share. Adjusted EBITDA stood at $20.0 million, a significant increase from the previous year.
In addition, the company received a Complete Response Letter from the FDA, declining approval for its Classic Galactosemia drug, govorestat, due to clinical application deficiencies. Despite this setback, the drug has shown promise in clinical trials, demonstrating improvements in cognitive and behavioral outcomes in pediatric patients.
These are recent developments that could significantly influence the company's trajectory. The company's future discussions with the FDA and the potential NDA review for the treatment of SORD deficiency are crucial next steps for Applied Therapeutics.
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