Applied Genetic Technologies Corporation (NASDAQ:AGTC) Given a $9.00 Price Target by Cantor Fitzgerald Analysts

Applied Genetic Technologies Corporation (NASDAQ:AGTC) received a $9.00 price target from equities research analysts at Cantor Fitzgerald in a report released on Friday, October 6th. The brokerage currently has a “hold” rating on the biotechnology company’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 129.30% from the stock’s previous close.

The analysts wrote, “Natural history data from imaging 41 patients with CNGB3-associated achromatopsia (ACHM B3) between 6 and 26 months was published in the journel Retina journal today, suggest functional endpoints for evaluating efficacy.””

Other equities research analysts have also recently issued reports about the company. ValuEngine cut Applied Genetic Technologies Corporation from a “hold” rating to a “sell” rating in a research report on Friday, September 15th. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price target (down from $16.00) on shares of Applied Genetic Technologies Corporation in a research note on Thursday, September 14th. BMO Capital Markets reissued an “outperform” rating and issued a $7.00 target price (down from $14.00) on shares of Applied Genetic Technologies Corporation in a research note on Thursday, September 14th. Stifel Nicolaus decreased their target price on shares of Applied Genetic Technologies Corporation from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, September 14th. Finally, Zacks Investment Research raised shares of Applied Genetic Technologies Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $11.71.

Applied Genetic Technologies Corporation (NASDAQ AGTC) opened at 3.925 on Friday. The stock’s 50 day moving average price is $4.05 and its 200-day moving average price is $5.00. The stock has a market cap of $70.99 million, a PE ratio of 196.250 and a beta of 1.63. Applied Genetic Technologies Corporation has a 12 month low of $3.50 and a 12 month high of $10.85.

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

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Institutional investors have recently bought and sold shares of the stock. Trexquant Investment LP increased its holdings in Applied Genetic Technologies Corporation by 3.2% in the 2nd quarter. Trexquant Investment LP now owns 20,000 shares of the biotechnology company’s stock valued at $102,000 after purchasing an additional 611 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Applied Genetic Technologies Corporation in the 1st quarter valued at approximately $123,000. Wells Fargo & Company MN increased its holdings in Applied Genetic Technologies Corporation by 1.1% in the 1st quarter. Wells Fargo & Company MN now owns 19,005 shares of the biotechnology company’s stock valued at $131,000 after purchasing an additional 200 shares during the last quarter. Virtu KCG Holdings LLC acquired a new stake in Applied Genetic Technologies Corporation in the 2nd quarter valued at approximately $178,000. Finally, Credit Suisse AG increased its holdings in Applied Genetic Technologies Corporation by 10.9% in the 1st quarter. Credit Suisse AG now owns 27,110 shares of the biotechnology company’s stock valued at $187,000 after purchasing an additional 2,662 shares during the last quarter. Hedge funds and other institutional investors own 54.66% 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).

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

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