Applied Genetic Technologies (AGTC) Getting Somewhat Favorable News Coverage, Accern Reports

Media coverage about Applied Genetic Technologies (NASDAQ:AGTC) has trended somewhat positive on Thursday, Accern reports. The research firm rates the sentiment of news coverage by analyzing more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Applied Genetic Technologies earned a media sentiment score of 0.11 on Accern’s scale. Accern also assigned media headlines about the biotechnology company an impact score of 46.166967242036 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near term.

These are some of the news stories that may have impacted Accern’s scoring:

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Several brokerages have recently weighed in on AGTC. Zacks Investment Research upgraded Applied Genetic Technologies from a “sell” rating to a “hold” rating in a report on Friday, March 30th. ValuEngine cut Applied Genetic Technologies from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st. Wedbush restated an “outperform” rating on shares of Applied Genetic Technologies in a report on Friday, February 9th. HC Wainwright set a $8.00 target price on Applied Genetic Technologies and gave the stock a “buy” rating in a report on Friday, February 9th. Finally, Cantor Fitzgerald restated a “hold” rating and set a $9.00 target price on shares of Applied Genetic Technologies in a report on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $9.00.

AGTC traded down $0.10 during trading hours on Thursday, reaching $4.95. The company’s stock had a trading volume of 31,051 shares, compared to its average volume of 106,739. Applied Genetic Technologies has a fifty-two week low of $3.25 and a fifty-two week high of $6.40. The stock has a market capitalization of $95.05, a PE ratio of 251.00 and a beta of 2.10.

Applied Genetic Technologies (NASDAQ:AGTC) last released its quarterly earnings data on Friday, February 9th. The biotechnology company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $8.72 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. The company’s revenue was down 55.5% on a year-over-year basis. equities analysts predict that Applied Genetic Technologies will post -1.3 earnings per share for the current year.

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Applied Genetic Technologies Company Profile

Applied Genetic Technologies Corporation, a clinical-stage biotechnology company, develops transformational genetic therapies for patients suffering from rare and debilitating diseases. The company's lead products consist of four ophthalmology development programs across three targets, including X-linked retinoschisis that is in Phase I/II clinical trials; X-linked retinitis pigmentosa, which is in Phase I/II clinical trials; and achromatopsia that is in Phase I/II clinical trials for the treatment of inherited retinal diseases, as well as a preclinical program in adrenoleukodystrophy, which is a disease of the central nervous system and otology.

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