Applied Genetic Technologies Corporation (NASDAQ:AGTC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday, July 25th.
According to Zacks, “Applied Genetic Technologies Corporation is a clinical-stage biotechnology company. It develops gene therapy products for inherited orphan ophthalmology diseases. Its lead product candidates in the preclinical stage include treatments for X-linked retinoschisis, Achromatopsia, and X-linked retinitis pigmentosa, which are diseases of the eye caused by mutations in single genes. Applied Genetic Technologies Corporation is headquartered in Alachua, Florida. “
Several other research firms have also recently commented on AGTC. Stifel Nicolaus lowered their target price on Applied Genetic Technologies Corporation from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, May 11th. Cantor Fitzgerald set a $15.00 target price on Applied Genetic Technologies Corporation and gave the company a “hold” rating in a research report on Wednesday, May 10th. HC Wainwright set a $16.00 price target on Applied Genetic Technologies Corporation and gave the company a “buy” rating in a research report on Saturday, June 10th. Finally, ValuEngine cut Applied Genetic Technologies Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $13.81.
Applied Genetic Technologies Corporation (NASDAQ AGTC) traded up 11.11% during mid-day trading on Tuesday, hitting $5.00. The company had a trading volume of 229,593 shares. The stock’s 50 day moving average price is $5.04 and its 200 day moving average price is $6.24. The firm has a market cap of $90.38 million, a P/E ratio of 11.93 and a beta of 1.68. Applied Genetic Technologies Corporation has a 52-week low of $4.50 and a 52-week high of $17.00.
Applied Genetic Technologies Corporation (NASDAQ:AGTC) last posted its earnings results on Wednesday, May 10th. The biotechnology company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.01) by $0.04. Applied Genetic Technologies Corporation had a net margin of 17.61% and a return on equity of 6.62%. The business had revenue of $8.39 million during the quarter, compared to analyst estimates of $10.39 million. During the same quarter in the prior year, the business earned $0.11 earnings per share. The firm’s revenue was down 30.1% compared to the same quarter last year. On average, equities research analysts predict that Applied Genetic Technologies Corporation will post $0.33 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in AGTC. InterWest Venture Management Co increased its stake in Applied Genetic Technologies Corporation by 0.3% in the second quarter. InterWest Venture Management Co now owns 1,455,904 shares of the biotechnology company’s stock worth $7,425,000 after buying an additional 3,688 shares during the period. FMR LLC increased its stake in Applied Genetic Technologies Corporation by 2.3% in the fourth quarter. FMR LLC now owns 1,115,494 shares of the biotechnology company’s stock worth $10,430,000 after buying an additional 24,864 shares during the period. State Street Corp increased its stake in Applied Genetic Technologies Corporation by 1.8% in the fourth quarter. State Street Corp now owns 300,983 shares of the biotechnology company’s stock worth $2,813,000 after buying an additional 5,452 shares during the period. Renaissance Technologies LLC increased its stake in Applied Genetic Technologies Corporation by 378.2% in the first quarter. Renaissance Technologies LLC now owns 252,013 shares of the biotechnology company’s stock worth $1,739,000 after buying an additional 199,313 shares during the period. Finally, AQR Capital Management LLC increased its stake in Applied Genetic Technologies Corporation by 114.4% in the fourth quarter. AQR Capital Management LLC now owns 213,688 shares of the biotechnology company’s stock worth $1,998,000 after buying an additional 114,034 shares during the period. 61.52% of the stock is currently owned by institutional investors and hedge funds.
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).
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