Shares of Applied Genetic Technologies Corporation (NASDAQ:AGTC) have earned an average recommendation of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $10.17.
Several equities analysts have recently commented on the company. Stifel Nicolaus reduced their price objective on Applied Genetic Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, September 14th. HC Wainwright set a $16.00 price objective on Applied Genetic Technologies and gave the company a “buy” rating in a research report on Thursday, August 10th. ValuEngine lowered Applied Genetic Technologies from a “hold” rating to a “sell” rating in a research report on Friday, September 15th. BMO Capital Markets reiterated an “outperform” rating and set a $7.00 price objective (down from $14.00) on shares of Applied Genetic Technologies in a research report on Thursday, September 14th. Finally, Cantor Fitzgerald reduced their price objective on Applied Genetic Technologies from $15.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, September 14th.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Trexquant Investment LP grew its position in Applied Genetic Technologies by 3.2% during the 2nd quarter. Trexquant Investment LP now owns 20,000 shares of the biotechnology company’s stock worth $102,000 after acquiring an additional 611 shares during the last quarter. Nine Chapters Capital Management LLC bought a new position in Applied Genetic Technologies during the 3rd quarter worth approximately $113,000. Citadel Advisors LLC grew its position in Applied Genetic Technologies by 304.6% during the 3rd quarter. Citadel Advisors LLC now owns 41,270 shares of the biotechnology company’s stock worth $163,000 after acquiring an additional 31,070 shares during the last quarter. Virtu KCG Holdings LLC bought a new position in Applied Genetic Technologies during the 2nd quarter worth approximately $178,000. Finally, Credit Suisse AG grew its position in Applied Genetic Technologies by 10.9% during the 1st quarter. Credit Suisse AG now owns 27,110 shares of the biotechnology company’s stock worth $187,000 after acquiring an additional 2,662 shares during the last quarter. Institutional investors and hedge funds own 53.02% of the company’s stock.
Applied Genetic Technologies (NASDAQ:AGTC) last announced its quarterly earnings data on Wednesday, September 13th. The biotechnology company reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.22 by ($0.40). The firm had revenue of $8.30 million for the quarter, compared to the consensus estimate of $12.39 million. Applied Genetic Technologies had a negative net margin of 8.78% and a negative return on equity of 2.86%. Applied Genetic Technologies’s revenue for the quarter was down 31.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.15 earnings per share. sell-side analysts anticipate that Applied Genetic Technologies will post -1.14 earnings per share for the current fiscal year.
About Applied Genetic Technologies
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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