BMO Capital Markets reaffirmed their outperform rating on shares of Applied Genetic Technologies Corporation (NASDAQ:AGTC) in a research report sent to investors on Thursday morning. They currently have a $7.00 price objective on the biotechnology company’s stock, down from their prior price objective of $14.00.
A number of other research firms also recently weighed in on AGTC. ValuEngine downgraded Applied Genetic Technologies Corporation from a buy rating to a hold rating in a research note on Friday, June 2nd. HC Wainwright set a $16.00 price target on Applied Genetic Technologies Corporation and gave the company a buy rating in a research note on Saturday, June 10th. Zacks Investment Research cut shares of Applied Genetic Technologies Corporation from a hold rating to a sell rating in a research report on Tuesday, July 11th. Finally, Stifel Nicolaus lowered their price objective on shares of Applied Genetic Technologies Corporation from $15.00 to $12.00 and set a buy rating for the company in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $11.14.
Shares of Applied Genetic Technologies Corporation (AGTC) traded down 4.05% during trading on Thursday, hitting $3.55. The company had a trading volume of 492,895 shares. The stock has a market cap of $64.17 million, a PE ratio of 8.47 and a beta of 1.68. Applied Genetic Technologies Corporation has a 12-month low of $3.50 and a 12-month high of $10.85. The firm has a 50 day moving average of $4.71 and a 200 day moving average of $5.62.
Applied Genetic Technologies Corporation (NASDAQ:AGTC) last posted its quarterly earnings results on Wednesday, September 13th. The biotechnology company reported ($0.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.40). The company had revenue of $8.30 million during the quarter, compared to analyst estimates of $12.39 million. Applied Genetic Technologies Corporation had a net margin of 4.28% and a return on equity of 1.44%. The business’s revenue for the quarter was down 31.4% compared to the same quarter last year. During the same period last year, the company earned $0.15 EPS. On average, analysts forecast that Applied Genetic Technologies Corporation will post ($0.63) earnings per share for the current fiscal year.
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Several institutional investors and hedge funds have recently added to or reduced their stakes in AGTC. Renaissance Technologies LLC increased its position in shares of Applied Genetic Technologies Corporation by 378.2% in the 1st quarter. Renaissance Technologies LLC now owns 252,013 shares of the biotechnology company’s stock valued at $1,739,000 after buying an additional 199,313 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new stake in shares of Applied Genetic Technologies Corporation in the 2nd quarter valued at $954,000. Numeric Investors LLC increased its holdings in Applied Genetic Technologies Corporation by 23.6% during the 2nd quarter. Numeric Investors LLC now owns 780,088 shares of the biotechnology company’s stock worth $3,978,000 after purchasing an additional 148,799 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Applied Genetic Technologies Corporation by 1,080.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 143,606 shares of the biotechnology company’s stock worth $732,000 after purchasing an additional 131,439 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Applied Genetic Technologies Corporation by 250.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 159,883 shares of the biotechnology company’s stock worth $1,103,000 after purchasing an additional 114,230 shares in the last quarter. Institutional investors and hedge funds own 54.75% of the company’s stock.
About Applied Genetic Technologies Corporation
Applied Genetic Technologies Corporation is a clinical-stage biotechnology company. The Company develops gene therapy products designed to manage the lives of patients with severe diseases in ophthalmology. As of March 31, 2016, its product candidates included treatments for X-linked retinoschisis (XLRS), over two forms of achromatopsia (ACHM) and X-linked retinitis pigmentosa (XLRP).
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