Applied Genetic Technologies Corporation (NASDAQ:AGTC) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

A number of other equities analysts also recently commented on AGTC. HC Wainwright reissued a “buy” rating and set a $8.00 price objective (down from $16.00) on shares of Applied Genetic Technologies Corporation in a research report on Thursday. Stifel Nicolaus lowered their price objective on Applied Genetic Technologies Corporation from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday. BMO Capital Markets reissued an “outperform” rating and set a $7.00 price objective (down from $14.00) on shares of Applied Genetic Technologies Corporation in a research report on Thursday. Cantor Fitzgerald lowered their price objective on Applied Genetic Technologies Corporation from $15.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Zacks Investment Research raised Applied Genetic Technologies Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. Applied Genetic Technologies Corporation has an average rating of “Buy” and a consensus target price of $11.14.

Shares of Applied Genetic Technologies Corporation (NASDAQ:AGTC) opened at 3.55 on Friday. The stock has a market capitalization of $64.17 million, a PE ratio of 8.47 and a beta of 1.68. The firm has a 50-day moving average of $4.68 and a 200 day moving average of $5.59. Applied Genetic Technologies Corporation has a 1-year low of $3.50 and a 1-year high of $10.85.

Applied Genetic Technologies Corporation (NASDAQ:AGTC) last announced its quarterly earnings data on Wednesday, September 13th. The biotechnology company reported ($0.18) EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.40). Applied Genetic Technologies Corporation had a return on equity of 1.45% and a net margin of 4.28%. The company had revenue of $8.30 million for the quarter, compared to analyst estimates of $12.39 million. During the same period in the prior year, the firm posted $0.15 earnings per share. The business’s quarterly revenue was down 31.4% compared to the same quarter last year. Analysts predict that Applied Genetic Technologies Corporation will post ($0.63) EPS for the current year.

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A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN boosted its holdings in 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 purchasing an additional 200 shares in the last quarter. Trexquant Investment LP boosted its holdings in 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 purchasing an additional 611 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Applied Genetic Technologies Corporation by 2.5% in the first quarter. Russell Investments Group Ltd. now owns 77,710 shares of the biotechnology company’s stock valued at $535,000 after purchasing an additional 1,883 shares in the last quarter. Teachers Advisors LLC boosted its holdings in Applied Genetic Technologies Corporation by 13.1% in the fourth quarter. Teachers Advisors LLC now owns 22,692 shares of the biotechnology company’s stock valued at $212,000 after purchasing an additional 2,632 shares in the last quarter. Finally, Credit Suisse AG boosted its holdings in Applied Genetic Technologies Corporation by 10.9% in the first quarter. Credit Suisse AG now owns 27,110 shares of the biotechnology company’s stock valued at $187,000 after purchasing an additional 2,662 shares in the last quarter. 54.75% of the stock is owned by hedge funds and other institutional investors.

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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