Applied Genetic Technologies Corporation (NASDAQ:AGTC) PT Set at $16.00 by HC Wainwright

HC Wainwright set a $16.00 price target on Applied Genetic Technologies Corporation (NASDAQ:AGTC) in a research report sent to investors on Thursday. The firm currently has a buy rating on the biotechnology company’s stock.

Other equities analysts have also issued reports about the stock. Cantor Fitzgerald set a $15.00 price target on shares of Applied Genetic Technologies Corporation and gave the stock a hold rating in a research report on Wednesday, May 10th. Zacks Investment Research lowered shares of Applied Genetic Technologies Corporation from a buy rating to a hold rating in a research report on Thursday, May 11th. Stifel Nicolaus reduced their price target on shares of Applied Genetic Technologies Corporation from $18.00 to $15.00 and set a buy rating for the company in a research report on Thursday, May 11th. Finally, ValuEngine lowered shares of Applied Genetic Technologies Corporation from a buy rating to a hold rating in a research report on Friday, June 2nd. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $13.81.

Shares of Applied Genetic Technologies Corporation (NASDAQ:AGTC) opened at 4.95 on Thursday. Applied Genetic Technologies Corporation has a 12 month low of $4.50 and a 12 month high of $15.78. The company has a market capitalization of $89.48 million, a price-to-earnings ratio of 11.81 and a beta of 1.68. The company’s 50-day moving average is $4.96 and its 200 day moving average is $6.07.

Applied Genetic Technologies Corporation (NASDAQ:AGTC) last posted its quarterly earnings results on Wednesday, May 10th. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.04. Applied Genetic Technologies Corporation had a return on equity of 6.62% and a net margin of 17.61%. The business had revenue of $8.39 million for the quarter, compared to analysts’ expectations of $10.39 million. During the same period in the prior year, the business posted $0.11 earnings per share. The business’s quarterly revenue was down 30.1% compared to the same quarter last year. On average, equities research analysts anticipate that Applied Genetic Technologies Corporation will post $0.33 earnings per share for the current year.

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Several large investors have recently modified their holdings of AGTC. Wells Fargo & Company MN boosted its stake in shares of Applied Genetic Technologies Corporation by 1.1% in the first quarter. Wells Fargo & Company MN now owns 19,005 shares of the biotechnology company’s stock worth $131,000 after buying an additional 200 shares during the last quarter. Trexquant Investment LP boosted its stake in shares of Applied Genetic Technologies Corporation by 3.2% in the second quarter. Trexquant Investment LP now owns 20,000 shares of the biotechnology company’s stock worth $102,000 after buying an additional 611 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Applied Genetic Technologies Corporation by 2.5% in the first quarter. Russell Investments Group Ltd. now owns 77,710 shares of the biotechnology company’s stock worth $535,000 after buying an additional 1,883 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of Applied Genetic Technologies Corporation by 13.1% in the fourth quarter. Teachers Advisors LLC now owns 22,692 shares of the biotechnology company’s stock worth $212,000 after buying an additional 2,632 shares during the last quarter. Finally, Credit Suisse AG boosted its stake in shares of Applied Genetic Technologies Corporation by 10.9% in the first quarter. Credit Suisse AG now owns 27,110 shares of the biotechnology company’s stock worth $187,000 after buying an additional 2,662 shares during the last quarter. 62.22% of the stock is currently owned by institutional investors and hedge funds.

Applied Genetic Technologies Corporation Company Profile

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).

Analyst Recommendations for Applied Genetic Technologies Corporation (NASDAQ:AGTC)

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