10 Best Diabetes Stocks To Buy Under $10

3. Applied Therapeutics, Inc. (NASDAQ:APLT)

Share Price as of the Close of December 26: $0.88

Standing third on our list is Applied Therapeutics, Inc. (NASDAQ:APLT). It is a biopharmaceutical company focused on developing treatments for rare diseases, particularly those related to metabolic disorders. Its lead drug, govorestat (AT-007), targets Aldose Reductase Inhibitors (ARIs) to treat conditions like Galactosemia, SORD Deficiency, and PMM2-CDG. The company is also developing AT-001 for Diabetic Cardiomyopathy and Diabetic Peripheral Neuropathy, and AT-003 for Diabetic Retinopathy, addressing significant unmet needs in diabetes care.

Applied Therapeutics, Inc. (NASDAQ:APLT) reported $122,000 in revenue for Q3 2024 which is a significant decrease from $10.66 million in the same period of 2023 due to a one-time licensing agreement. R&D expenses rose to $14.8 million which was driven by increased personnel costs and data storage for commercialization. G&A expenses increased to $15.0 million due to higher headcount. The net loss for Q3 was $68.6 million, compared to $42.4 million in Q3 2023, largely due to higher expenses and changes in warrant liabilities.

As of September 30, 2024, the company had $98.9 million in cash, with a runway expected to last until 2026. Applied Therapeutics, Inc. (NASDAQ:APLT) is awaiting critical regulatory decisions, including the FDA’s Priority Review for govorestat in Classic Galactosemia, with a PDUFA date of November 28, 2024, and an EMA decision expected in Q1 2025. An NDA submission for govorestat in SORD Deficiency is planned for early Q1 2025.

Analysts hold a consensus Moderate Buy rating on the stock. The average price target for the stock is $4.50, with a high estimate of $8.00 and a low estimate of $1.50. The average price target indicates a 411.31% increase from the last price of $0.88.