Applied Genetic Technologies Corporation (AGTC) Receives Consensus Recommendation of “Buy” from Analysts

Applied Genetic Technologies Corporation (NASDAQ:AGTC) has received an average recommendation of “Buy” from the nine ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $11.71.

Several research firms have recently commented on AGTC. Cantor Fitzgerald set a $9.00 price target on Applied Genetic Technologies Corporation and gave the stock a “hold” rating in a report on Friday. ValuEngine lowered Applied Genetic Technologies Corporation from a “hold” rating to a “sell” rating in a report on Friday, September 15th. HC Wainwright reiterated a “buy” rating and set a $8.00 price target (down previously from $16.00) on shares of Applied Genetic Technologies Corporation in a report on Thursday, September 14th. BMO Capital Markets reiterated an “outperform” rating and set a $7.00 price target (down previously from $14.00) on shares of Applied Genetic Technologies Corporation in a report on Thursday, September 14th. Finally, Stifel Nicolaus reduced their price target on Applied Genetic Technologies Corporation from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, September 14th.

Several large investors have recently modified their holdings of AGTC. Teachers Advisors LLC increased its position in shares of Applied Genetic Technologies Corporation by 13.1% during the 4th quarter. Teachers Advisors LLC now owns 22,692 shares of the biotechnology company’s stock worth $212,000 after purchasing an additional 2,632 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Applied Genetic Technologies Corporation by 2.5% during the 1st quarter. Russell Investments Group Ltd. now owns 77,710 shares of the biotechnology company’s stock worth $535,000 after purchasing an additional 1,883 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Applied Genetic Technologies Corporation by 1.1% during the 1st quarter. Wells Fargo & Company MN now owns 19,005 shares of the biotechnology company’s stock worth $131,000 after purchasing an additional 200 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Applied Genetic Technologies Corporation by 5.2% during the 1st quarter. Bank of New York Mellon Corp now owns 57,924 shares of the biotechnology company’s stock worth $400,000 after purchasing an additional 2,848 shares during the last quarter. Finally, Prudential Financial Inc. increased its position in shares of Applied Genetic Technologies Corporation by 24.2% during the 1st quarter. Prudential Financial Inc. now owns 155,210 shares of the biotechnology company’s stock worth $1,071,000 after purchasing an additional 30,200 shares during the last quarter. 54.66% of the stock is owned by hedge funds and other institutional investors.

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Applied Genetic Technologies Corporation (NASDAQ:AGTC) opened at 4.00 on Friday. Applied Genetic Technologies Corporation has a 52-week low of $3.50 and a 52-week high of $10.85. The company has a market cap of $72.35 million, a PE ratio of 200.00 and a beta of 1.63. The firm’s 50-day moving average is $4.22 and its 200-day moving average is $5.17.

Applied Genetic Technologies Corporation (NASDAQ:AGTC) last posted its quarterly earnings results on Wednesday, September 13th. The biotechnology company reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.22 by ($0.40). Applied Genetic Technologies Corporation had a return on equity of 1.45% and a net margin of 4.28%. The company had revenue of $8.30 million for the quarter, compared to analysts’ expectations of $12.39 million. During the same quarter in the prior year, the firm earned $0.15 EPS. The firm’s revenue was down 31.4% on a year-over-year basis. On average, equities research analysts anticipate that Applied Genetic Technologies Corporation will post ($0.81) EPS for the current year.

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).

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

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