FY2018 Earnings Forecast for Applied Genetic Technologies Corp Issued By Cantor Fitzgerald (AGTC)

Applied Genetic Technologies Corp (NASDAQ:AGTC) – Stock analysts at Cantor Fitzgerald increased their FY2018 EPS estimates for Applied Genetic Technologies in a research note issued to investors on Monday. Cantor Fitzgerald analyst M. Goldstein now anticipates that the biotechnology company will post earnings of ($2.38) per share for the year, up from their prior estimate of ($2.45). Cantor Fitzgerald has a “Hold” rating and a $9.00 price target on the stock. Cantor Fitzgerald also issued estimates for Applied Genetic Technologies’ FY2019 earnings at ($2.52) EPS.

Applied Genetic Technologies (NASDAQ:AGTC) last announced its quarterly earnings results on Friday, February 9th. The biotechnology company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.20). Applied Genetic Technologies had a negative net margin of 33.24% and a negative return on equity of 9.21%. The business had revenue of $4.85 million for the quarter, compared to analyst estimates of $8.72 million. During the same period in the prior year, the business earned $0.10 EPS. The company’s revenue for the quarter was down 55.5% compared to the same quarter last year.

AGTC has been the subject of several other research reports. HC Wainwright reaffirmed a “buy” rating and set a $8.00 price target on shares of Applied Genetic Technologies in a report on Wednesday, November 8th. Zacks Investment Research downgraded Applied Genetic Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. Wedbush reissued an “outperform” rating on shares of Applied Genetic Technologies in a report on Friday, February 9th. Finally, ValuEngine downgraded Applied Genetic Technologies from a “sell” rating to a “strong sell” rating in a report on Sunday, December 31st. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $10.17.

Shares of Applied Genetic Technologies (AGTC) remained flat at $$3.80 during trading on Wednesday. 55,500 shares of the company’s stock were exchanged, compared to its average volume of 117,472. Applied Genetic Technologies has a fifty-two week low of $3.25 and a fifty-two week high of $8.40. The firm has a market cap of $68.80, a price-to-earnings ratio of -6.33 and a beta of 2.03.

Institutional investors and hedge funds have recently bought and sold shares of the company. Nine Chapters Capital Management LLC acquired a new stake in shares of Applied Genetic Technologies during the third quarter worth $113,000. Virtu KCG Holdings LLC acquired a new stake in shares of Applied Genetic Technologies during the second quarter worth $178,000. Citadel Advisors LLC lifted its holdings in shares of Applied Genetic Technologies by 304.6% during the third quarter. Citadel Advisors LLC now owns 41,270 shares of the biotechnology company’s stock worth $163,000 after buying an additional 31,070 shares in the last quarter. Two Sigma Investments LP lifted its holdings in shares of Applied Genetic Technologies by 29.9% during the fourth quarter. Two Sigma Investments LP now owns 60,892 shares of the biotechnology company’s stock worth $219,000 after buying an additional 14,011 shares in the last quarter. Finally, ClariVest Asset Management LLC lifted its holdings in shares of Applied Genetic Technologies by 18.5% during the third quarter. ClariVest Asset Management LLC now owns 99,013 shares of the biotechnology company’s stock worth $391,000 after buying an additional 15,491 shares in the last quarter. 46.17% of the stock is owned by institutional investors.

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Applied Genetic Technologies 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 (NASDAQ:AGTC)

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