Analysts Set Applied Genetic Technologies Corp (AGTC) Price Target at $14.86

Applied Genetic Technologies Corp (NASDAQ:AGTC) has been assigned a consensus recommendation of “Buy” from the nine analysts that are presently covering the company. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $13.91.

A number of equities research analysts recently commented on the stock. BMO Capital Markets lowered their price target on shares of Applied Genetic Technologies Corp from $20.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, February 9th. Zacks Investment Research downgraded shares of Applied Genetic Technologies Corp from a “buy” rating to a “hold” rating in a research report on Wednesday, March 15th. Stifel Nicolaus reduced their price objective on shares of Applied Genetic Technologies Corp from $22.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, February 9th. Cantor Fitzgerald set a $15.00 price objective on shares of Applied Genetic Technologies Corp and gave the company a “hold” rating in a research report on Wednesday, February 8th. Finally, Wedbush reissued an “outperform” rating and set a $15.00 price objective on shares of Applied Genetic Technologies Corp in a research report on Thursday, February 9th.

Applied Genetic Technologies Corp (NASDAQ:AGTC) traded down 10.081% on Monday, hitting $5.575. 339,012 shares of the stock were exchanged. The company has a 50-day moving average price of $6.97 and a 200 day moving average price of $8.22. The company has a market capitalization of $100.81 million, a PE ratio of 9.696 and a beta of 1.69. Applied Genetic Technologies Corp has a 1-year low of $5.55 and a 1-year high of $19.86.

Applied Genetic Technologies Corp (NASDAQ:AGTC) last posted its quarterly earnings results on Wednesday, February 8th. The biotechnology company reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.09. Applied Genetic Technologies Corp had a net margin of 22.20% and a return on equity of 9.32%. The company earned $10.90 million during the quarter, compared to analyst estimates of $11.10 million. During the same period in the prior year, the business posted $0.17 EPS. The firm’s revenue was down 10.7% compared to the same quarter last year. Analysts anticipate that Applied Genetic Technologies Corp will post $0.36 EPS for the current fiscal year.

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A number of hedge funds have recently made changes to their positions in AGTC. State Street Corp increased its stake in shares of Applied Genetic Technologies Corp by 1.8% in the fourth quarter. State Street Corp now owns 300,983 shares of the biotechnology company’s stock valued at $2,813,000 after buying an additional 5,452 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of Applied Genetic Technologies Corp during the fourth quarter valued at approximately $747,000. Acrospire Investment Management LLC increased its stake in shares of Applied Genetic Technologies Corp by 48.9% in the third quarter. Acrospire Investment Management LLC now owns 23,743 shares of the biotechnology company’s stock valued at $232,000 after buying an additional 7,800 shares during the period. Altrinsic Global Advisors LLC increased its stake in shares of Applied Genetic Technologies Corp by 10.1% in the third quarter. Altrinsic Global Advisors LLC now owns 219,000 shares of the biotechnology company’s stock valued at $2,142,000 after buying an additional 20,000 shares during the period. Finally, Spark Investment Management LLC increased its stake in shares of Applied Genetic Technologies Corp by 0.3% in the third quarter. Spark Investment Management LLC now owns 134,000 shares of the biotechnology company’s stock valued at $1,310,000 after buying an additional 400 shares during the period. 56.91% of the stock is currently owned by institutional investors.

Applied Genetic Technologies Corp 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).

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