Applied Genetic Technologies Corporation (NASDAQ:AGTC) had its price target lowered by Cantor Fitzgerald from $15.00 to $9.00 in a research note published on Thursday. The firm currently has a neutral rating on the biotechnology company’s stock.

A number of other research firms also recently commented on AGTC. ValuEngine downgraded Applied Genetic Technologies Corporation from a buy rating to a hold rating in a report on Friday, June 2nd. HC Wainwright set a $16.00 price objective on Applied Genetic Technologies Corporation and gave the stock a buy rating in a report on Saturday, June 10th. Zacks Investment Research downgraded Applied Genetic Technologies Corporation from a hold rating to a sell rating in a report on Tuesday, July 11th. BMO Capital Markets restated an outperform rating and set a $7.00 price objective (down from $14.00) on shares of Applied Genetic Technologies Corporation in a report on Thursday. Finally, Stifel Nicolaus dropped their price objective on Applied Genetic Technologies Corporation from $15.00 to $12.00 and set a buy rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $11.14.

Applied Genetic Technologies Corporation (NASDAQ AGTC) opened at 3.55 on Thursday. Applied Genetic Technologies Corporation has a 12 month low of $3.50 and a 12 month high of $10.85. The company has a 50-day moving average price of $4.68 and a 200 day moving average price of $5.59. The stock has a market capitalization 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 issued its quarterly earnings results on Wednesday, September 13th. The biotechnology company reported ($0.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.40). The business had revenue of $8.30 million during the quarter, compared to analyst estimates of $12.39 million. Applied Genetic Technologies Corporation had a net margin of 4.28% and a return on equity of 1.45%. The company’s revenue was down 31.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 earnings per share. Equities analysts predict that Applied Genetic Technologies Corporation will post ($0.63) earnings per share for the current year.

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Institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd purchased a new stake in Applied Genetic Technologies Corporation during the 1st quarter worth $123,000. Wells Fargo & Company MN boosted 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 worth $131,000 after purchasing an additional 200 shares during the period. Trexquant Investment LP boosted 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 worth $102,000 after purchasing an additional 611 shares during the period. Teachers Advisors LLC boosted 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 worth $212,000 after purchasing an additional 2,632 shares during the period. Finally, Credit Suisse AG boosted 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 worth $187,000 after purchasing an additional 2,662 shares during the period. 54.75% of the stock is owned by hedge funds and other institutional investors.

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).

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

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