Q2 2018 EPS Estimates for Applied Genetic Technologies Corporation Decreased by Analyst (AGTC)

Applied Genetic Technologies Corporation (NASDAQ:AGTC) – Equities researchers at Wedbush reduced their Q2 2018 EPS estimates for shares of Applied Genetic Technologies Corporation in a research note issued on Wednesday. Wedbush analyst D. Nierengarten now forecasts that the biotechnology company will post earnings of ($0.01) per share for the quarter, down from their previous forecast of $0.01. Wedbush has a “Outperform” rating and a $9.00 price objective on the stock. Wedbush also issued estimates for Applied Genetic Technologies Corporation’s FY2020 earnings at $1.22 EPS and FY2021 earnings at $1.11 EPS.

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 (EPS) 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 analysts’ expectations of $12.39 million. Applied Genetic Technologies Corporation had a negative return on equity of 2.86% and a negative net margin of 8.78%. The company’s quarterly revenue was down 31.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.15 EPS. COPYRIGHT VIOLATION WARNING: This story was first reported by Transcript Daily and is the property of of Transcript Daily. If you are viewing this story on another publication, it was stolen and reposted in violation of US & international copyright and trademark legislation. The legal version of this story can be read at https://transcriptdaily.com/2017/11/10/q2-2018-eps-estimates-for-applied-genetic-technologies-corporation-decreased-by-analyst-agtc.html.

AGTC has been the subject of a number of other research reports. Cantor Fitzgerald set a $9.00 price target on shares of Applied Genetic Technologies Corporation and gave the stock a “hold” rating in a report on Friday, October 6th. Zacks Investment Research cut shares of Applied Genetic Technologies Corporation from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 31st. BMO Capital Markets reaffirmed an “outperform” rating and issued a $7.00 price target (down previously from $14.00) on shares of Applied Genetic Technologies Corporation in a report on Thursday, September 14th. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price target (down previously from $16.00) on shares of Applied Genetic Technologies Corporation in a report on Thursday, September 14th. Finally, ValuEngine cut shares of Applied Genetic Technologies Corporation from a “hold” rating to a “sell” rating in a report on Friday, September 15th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $10.17.

Applied Genetic Technologies Corporation (AGTC) traded up $0.10 during midday trading on Friday, hitting $3.75. 22,876 shares of the company’s stock were exchanged, compared to its average volume of 171,319. Applied Genetic Technologies Corporation has a fifty-two week low of $3.25 and a fifty-two week high of $10.85.

Several institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN raised its holdings in shares of Applied Genetic Technologies Corporation by 1.1% during the first 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. Trexquant Investment LP raised its holdings in shares of Applied Genetic Technologies Corporation by 3.2% during the second quarter. Trexquant Investment LP now owns 20,000 shares of the biotechnology company’s stock worth $102,000 after purchasing an additional 611 shares during the last quarter. Credit Suisse AG raised its holdings in shares of Applied Genetic Technologies Corporation by 10.9% during the first quarter. Credit Suisse AG now owns 27,110 shares of the biotechnology company’s stock worth $187,000 after purchasing an additional 2,662 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Applied Genetic Technologies Corporation by 4.7% during the second quarter. Bank of Montreal Can now owns 59,398 shares of the biotechnology company’s stock worth $302,000 after purchasing an additional 2,666 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Applied Genetic Technologies Corporation by 5.2% during the first 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. 54.79% of the stock is owned by hedge funds and other institutional investors.

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).

Earnings History and Estimates for Applied Genetic Technologies Corporation (NASDAQ:AGTC)

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