Applied Genetic Technologies Corporation (NASDAQ:AGTC)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a research note issued to investors on Thursday. They presently have a $8.00 price objective on the biotechnology company’s stock, down from their previous price objective of $16.00. HC Wainwright’s target price indicates a potential upside of 125.35% from the stock’s current price.

Other research analysts have also issued research reports about the stock. 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. BMO Capital Markets reiterated an “outperform” rating and issued a $7.00 price objective (down previously from $14.00) on shares of Applied Genetic Technologies Corporation in a report on Thursday. Cantor Fitzgerald dropped their price objective on shares of Applied Genetic Technologies Corporation from $15.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday. ValuEngine downgraded shares of Applied Genetic Technologies Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Zacks Investment Research raised shares of Applied Genetic Technologies Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. Applied Genetic Technologies Corporation currently has a consensus rating of “Buy” and a consensus price target of $11.14.

Shares of Applied Genetic Technologies Corporation (NASDAQ AGTC) opened at 3.55 on Thursday. The stock’s 50 day moving average is $4.68 and its 200 day moving average is $5.59. The firm has a market cap of $64.17 million, a PE ratio of 8.47 and a beta of 1.68. Applied Genetic Technologies Corporation has a 12 month low of $3.50 and a 12 month high of $10.85.

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

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A number of large investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN increased its position in Applied Genetic Technologies Corporation by 1.1% during the 1st 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 during the period. Trexquant Investment LP increased its position in Applied Genetic Technologies Corporation by 3.2% during the 2nd 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 during the period. Russell Investments Group Ltd. increased its position in Applied Genetic Technologies Corporation by 2.5% during the 1st 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 during the period. Teachers Advisors LLC increased its position in Applied Genetic Technologies Corporation by 13.1% during the 4th 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 during the period. Finally, Credit Suisse AG increased its position in Applied Genetic Technologies Corporation by 10.9% during the 1st 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 during the period. 54.75% of the stock is owned by institutional investors and hedge funds.

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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