Applied Genetic Technologies Corporation (NASDAQ:AGTC) received a $16.00 target price from equities research analysts at HC Wainwright in a research report issued on Thursday. The brokerage presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price target points to a potential upside of 220.00% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. Stifel Nicolaus cut their price objective on shares of Applied Genetic Technologies Corporation from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, May 11th. ValuEngine downgraded shares of Applied Genetic Technologies Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research downgraded shares of Applied Genetic Technologies Corporation from a “buy” rating to a “hold” rating in a report on Thursday, May 11th. Finally, Cantor Fitzgerald set a $15.00 target price on shares of Applied Genetic Technologies Corporation and gave the stock a “hold” rating in a report on Wednesday, May 10th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Applied Genetic Technologies Corporation currently has a consensus rating of “Buy” and an average target price of $13.81.

Shares of Applied Genetic Technologies Corporation (AGTC) traded down 1.00% during midday trading on Thursday, hitting $4.95. The company had a trading volume of 45,736 shares. Applied Genetic Technologies Corporation has a 1-year low of $4.50 and a 1-year high of $15.78. The stock has a 50 day moving average price of $4.99 and a 200 day moving average price of $6.10. The firm has a market capitalization of $89.48 million, a P/E ratio of 11.81 and a beta of 1.68.

Applied Genetic Technologies Corporation (NASDAQ:AGTC) last issued its quarterly earnings data on Wednesday, May 10th. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $10.39 million. During the same period in the previous year, the firm earned $0.11 EPS. The company’s revenue was down 30.1% on a year-over-year basis. On average, equities analysts anticipate that Applied Genetic Technologies Corporation will post $0.33 EPS for the current fiscal year.

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Hedge funds have recently made changes to their positions in the company. Trexquant Investment LP boosted its stake in shares of Applied Genetic Technologies Corporation by 3.2% in the second quarter. Trexquant Investment LP now owns 20,000 shares of the biotechnology company’s stock valued at $102,000 after buying an additional 611 shares during the last quarter. CAPROCK Group Inc. boosted its stake in shares of Applied Genetic Technologies Corporation by 55.8% in the first quarter. CAPROCK Group Inc. now owns 17,215 shares of the biotechnology company’s stock valued at $119,000 after buying an additional 6,165 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Applied Genetic Technologies Corporation during the first quarter valued at approximately $123,000. Wells Fargo & Company MN boosted its stake in shares of Applied Genetic Technologies Corporation by 1.1% in the first quarter. Wells Fargo & Company MN now owns 19,005 shares of the biotechnology company’s stock valued at $131,000 after buying an additional 200 shares during the last quarter. Finally, Smith Asset Management Group LP bought a new stake in shares of Applied Genetic Technologies Corporation during the first quarter valued at approximately $141,000. Institutional investors and hedge funds own 62.22% of the company’s stock.

Applied Genetic Technologies Corporation 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).

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

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