Why aplt price not going up

Applied Therapeutics, Inc. (APLT) is a biopharmaceutical company that has been making headlines due to the FDA's decision to cancel an Advisory Committee meeting for its drug, govorestat, which is being developed to treat the rare genetic disease Classic Galactosemia. This development has been a significant positive catalyst for the company, as it suggests that the FDA is moving forward with the approval process without the need for additional input from an advisory panel, which is typically a positive sign. 1. **FDA Approval Process**: The FDA's decision to continue the Priority Review of APLT's New Drug Application (NDA) for govorestat and the alignment on post-marketing requirements expected in October 2024, with the PDUFA target action date remaining on track for November 28, has been a positive step towards approval. This has contributed to the surge in the company's stock price, as it indicates a clear path to potential approval and market launch for the drug. 2. **Analyst Ratings and Price Targets**: Analysts have given APLT a consensus rating of "Buy" with an average price target of $11.00, which suggests a positive outlook on the company's future performance. This is a key indicator of confidence in the company's potential and could contribute to upward pressure on the stock price if and when the market fully incorporates these positive analyst expectations. 3. **Financial Performance**: Despite the positive developments, it is important to note that APLT has experienced a net fund outflow of $1.81 million, which could indicate some skepticism or profit-taking by investors. Additionally, the company has reported a net loss of ($0.59) per share for the current fiscal year, which could be a limitation on the stock's upward movement. 4. **Market Dynamics**: The biopharmaceutical sector is known for its volatility, and the success of APLT's drug development is critical to its long-term viability and stock performance. The market's reaction to the FDA's decision and the company's future ability to capitalize on the approval of govorestat will be key factors in determining the stock's trajectory. In conclusion, while the FDA's decision to cancel the Advisory Committee meeting and the positive analyst ratings are likely contributing to the stock's recent surge, the company's financial performance and the inherent risks in the biopharmaceutical sector could be limiting factors in the stock's upward movement. Investors will be watching the FDA's final decision on govorestat's approval and the company's future financial results to gauge the stock's potential for continued growth.