Applied Genetic Technologies Corporation (NASDAQ:AGTC) – Equities research analysts at Wedbush cut their Q1 2018 EPS estimates for Applied Genetic Technologies Corporation in a note issued to investors on Wednesday. Wedbush analyst D. Nierengarten now anticipates that the biotechnology company will post earnings per share of ($0.18) for the quarter, down from their previous estimate of ($0.12). Wedbush also issued estimates for Applied Genetic Technologies Corporation’s Q2 2018 earnings at $0.01 EPS, Q3 2018 earnings at ($0.35) EPS, Q4 2018 earnings at ($0.71) EPS, FY2018 earnings at ($1.23) EPS, FY2019 earnings at ($2.09) EPS, FY2020 earnings at $1.30 EPS and FY2021 earnings at $1.19 EPS.

AGTC has been the topic of several other research reports. HC Wainwright set a $16.00 price target on shares of Applied Genetic Technologies Corporation and gave the company a “buy” rating in a report on Thursday, August 10th. Cantor Fitzgerald lowered their price target on shares of Applied Genetic Technologies Corporation from $15.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, September 14th. Stifel Nicolaus lowered their price target on shares of Applied Genetic Technologies Corporation from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, September 14th. Zacks Investment Research raised shares of Applied Genetic Technologies Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $7.00 price target (down previously from $14.00) on shares of Applied Genetic Technologies Corporation in a report on Thursday, September 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $11.14.

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Applied Genetic Technologies Corporation (NASDAQ AGTC) opened at 3.75 on Monday. The company has a market capitalization of $67.79 million, a P/E ratio of 8.95 and a beta of 1.68. The stock has a 50 day moving average of $4.62 and a 200-day moving average of $5.49. Applied Genetic Technologies Corporation has a 52-week low of $3.50 and a 52-week high of $10.85.

Applied Genetic Technologies Corporation (NASDAQ:AGTC) last posted its quarterly earnings results on Wednesday, September 13th. The biotechnology company reported ($0.18) earnings per share (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 business had revenue of $8.30 million during the quarter, compared to the consensus estimate of $12.39 million. During the same quarter in the previous year, the business posted $0.15 earnings per share. The company’s quarterly revenue was down 31.4% compared to the same quarter last year.

Several large investors have recently modified their holdings of AGTC. Teachers Advisors LLC boosted its stake in shares of Applied Genetic Technologies Corporation by 13.1% in 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 in the last quarter. Bank of Montreal Can boosted its stake in shares of Applied Genetic Technologies Corporation by 44.5% in the 1st quarter. Bank of Montreal Can now owns 56,732 shares of the biotechnology company’s stock valued at $392,000 after purchasing an additional 17,481 shares in the last quarter. Strs Ohio boosted its stake in shares of Applied Genetic Technologies Corporation by 31.6% in the 1st quarter. Strs Ohio now owns 85,800 shares of the biotechnology company’s stock valued at $592,000 after purchasing an additional 20,600 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Applied Genetic Technologies Corporation by 2.5% in 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 in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Applied Genetic Technologies Corporation by 1.1% in 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 in the last quarter. Institutional investors own 54.75% of the company’s stock.

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).

Earnings History and Estimates for Applied Genetic Technologies Corporation (NASDAQ:AGTC)

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