Applied Genetic Technologies Corporation (NASDAQ:AGTC)‘s stock had its “outperform” rating restated by stock analysts at BMO Capital Markets in a research report issued on Thursday. They presently have a $7.00 price objective on the biotechnology company’s stock, down from their previous price objective of $14.00. BMO Capital Markets’ target price would suggest a potential upside of 97.18% from the company’s previous close.

AGTC has been the subject of several other research reports. Zacks Investment Research downgraded shares of Applied Genetic Technologies Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. ValuEngine downgraded shares of Applied Genetic Technologies Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Stifel Nicolaus dropped their price objective on shares of Applied Genetic Technologies Corporation from $15.00 to $12.00 and set a “buy” rating for the company in a report on Thursday. Finally, HC Wainwright set a $16.00 target price on shares of Applied Genetic Technologies Corporation and gave the company a “buy” rating in a research report on Thursday, August 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $11.14.

Applied Genetic Technologies Corporation (NASDAQ AGTC) traded down 4.05% on Thursday, hitting $3.55. The stock had a trading volume of 493,506 shares. The company’s 50 day moving average price is $4.68 and its 200 day moving average price is $5.59. Applied Genetic Technologies Corporation has a 52-week low of $3.50 and a 52-week high of $10.85. The firm has a market cap of $64.17 million, a price-to-earnings ratio of 8.47 and a beta of 1.68.

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

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Several hedge funds and other institutional investors have recently made changes to their positions in AGTC. Renaissance Technologies LLC raised its position in shares of Applied Genetic Technologies Corporation by 378.2% during the 1st quarter. Renaissance Technologies LLC now owns 252,013 shares of the biotechnology company’s stock valued at $1,739,000 after buying an additional 199,313 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new stake in shares of Applied Genetic Technologies Corporation during the 2nd quarter valued at about $954,000. Numeric Investors LLC raised its position in shares of Applied Genetic Technologies Corporation by 23.6% during the 2nd quarter. Numeric Investors LLC now owns 780,088 shares of the biotechnology company’s stock valued at $3,978,000 after buying an additional 148,799 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Applied Genetic Technologies Corporation by 1,080.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 143,606 shares of the biotechnology company’s stock valued at $732,000 after buying an additional 131,439 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Applied Genetic Technologies Corporation by 250.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 159,883 shares of the biotechnology company’s stock valued at $1,103,000 after buying an additional 114,230 shares in the last quarter. Hedge funds and other institutional investors own 54.75% 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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