Applied Genetic Technologies (NASDAQ:AGTC)‘s stock had its “buy” rating reiterated by HC Wainwright in a report released on Friday. They presently have a $5.75 target price on the biotechnology company’s stock. HC Wainwright’s target price would indicate a potential upside of 70.12% from the stock’s previous close.

The analysts wrote, “Valuation and risks to price target achievement. We maintain our Buy rating and $5.75 price target. Our valuation is based on our clinical net present value (NPV) model, which allows us to flex multiple assumptions affecting a drug’s potential commercial profile. Currently the ACHM programs contribute 55% to our valuation, with the remaining 45% coming from XLRP. Factors which could impede reaching our price target include failed or inconclusive clinical trials or inability of the company to secure adequate funding to progress its drugs through the development pathway.””

AGTC has been the topic of several other research reports. BMO Capital Markets lowered Applied Genetic Technologies from an “outperform” rating to a “market perform” rating and set a $5.00 target price on the stock. in a report on Thursday, December 13th. Zacks Investment Research upgraded shares of Applied Genetic Technologies from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a research note on Wednesday, November 14th. ValuEngine downgraded shares of Applied Genetic Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, December 13th. TheStreet downgraded shares of Applied Genetic Technologies from a “c-” rating to a “d+” rating in a research note on Wednesday, January 2nd. Finally, Wells Fargo & Co decreased their price objective on shares of Applied Genetic Technologies from $20.00 to $15.00 and set an “outperform” rating for the company in a research note on Thursday, December 13th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Applied Genetic Technologies presently has a consensus rating of “Hold” and a consensus price target of $7.55.

NASDAQ:AGTC opened at $3.38 on Friday. The firm has a market capitalization of $61.28 million, a P/E ratio of -2.86 and a beta of 2.76. Applied Genetic Technologies has a 12 month low of $2.26 and a 12 month high of $7.50.

Applied Genetic Technologies (NASDAQ:AGTC) last posted its earnings results on Thursday, February 7th. The biotechnology company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.64) by $0.41. The firm had revenue of $5.93 million for the quarter. Applied Genetic Technologies had a negative return on equity of 18.77% and a negative net margin of 61.04%. As a group, equities analysts expect that Applied Genetic Technologies will post -1.79 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its stake in Applied Genetic Technologies by 11.7% in the third quarter. Dimensional Fund Advisors LP now owns 817,584 shares of the biotechnology company’s stock valued at $5,968,000 after acquiring an additional 85,686 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Applied Genetic Technologies by 11.5% in the third quarter. Renaissance Technologies LLC now owns 707,500 shares of the biotechnology company’s stock valued at $5,165,000 after acquiring an additional 73,000 shares in the last quarter. Vanguard Group Inc boosted its stake in Applied Genetic Technologies by 1.1% in the third quarter. Vanguard Group Inc now owns 494,618 shares of the biotechnology company’s stock valued at $3,611,000 after acquiring an additional 5,300 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Applied Genetic Technologies by 9,001.3% in the third quarter. Wells Fargo & Company MN now owns 215,610 shares of the biotechnology company’s stock valued at $1,574,000 after acquiring an additional 213,241 shares in the last quarter. Institutional investors own 44.24% of the company’s stock.

Applied Genetic Technologies Company Profile

Applied Genetic Technologies Corporation, a clinical-stage biotechnology company, develops transformational genetic therapies for patients suffering from rare and debilitating diseases. The company's lead products consist of four ophthalmology development programs across three targets, including X-linked retinoschisis that is in Phase I/II clinical trials; X-linked retinitis pigmentosa, which is in Phase I/II clinical trials; and achromatopsia that is in Phase I/II clinical trials for the treatment of inherited retinal diseases, as well as a preclinical program in adrenoleukodystrophy, which is a disease of the central nervous system and otology.

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