Applied Genetic Technologies Corp (AGTC) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Applied Genetic Technologies Corp (NASDAQ:AGTC) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

According to Zacks, “Applied Genetic Technologies Corporation is a clinical-stage biotechnology company. It develops gene therapy products for inherited orphan ophthalmology diseases. Its lead product candidates in the preclinical stage include treatments for X-linked retinoschisis, Achromatopsia, and X-linked retinitis pigmentosa, which are diseases of the eye caused by mutations in single genes. Applied Genetic Technologies Corporation is headquartered in Alachua, Florida. “

A number of other equities analysts have also recently weighed in on AGTC. BMO Capital Markets reduced their price target on Applied Genetic Technologies Corp from $20.00 to $14.00 and set a buy rating for the company in a report on Thursday, February 9th. Rodman & Renshaw began coverage on Applied Genetic Technologies Corp in a report on Wednesday, March 15th. They issued a buy rating and a $16.00 price target for the company. Wedbush reaffirmed an outperform rating and issued a $15.00 price target on shares of Applied Genetic Technologies Corp in a report on Thursday, February 9th. Stifel Nicolaus reduced their price target on Applied Genetic Technologies Corp from $22.00 to $18.00 and set a buy rating for the company in a report on Thursday, February 9th. Finally, Cantor Fitzgerald set a $15.00 price target on Applied Genetic Technologies Corp and gave the stock a hold rating in a report on Wednesday, February 8th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $14.06.

Applied Genetic Technologies Corp (NASDAQ:AGTC) opened at 7.20 on Wednesday. The stock has a market cap of $130.20 million, a PE ratio of 12.52 and a beta of 1.69. The stock has a 50 day moving average price of $7.49 and a 200-day moving average price of $8.89. Applied Genetic Technologies Corp has a one year low of $6.07 and a one year high of $19.86.

Applied Genetic Technologies Corp (NASDAQ:AGTC) last released its quarterly earnings results on Wednesday, February 8th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.09. The company earned $10.90 million during the quarter, compared to analysts’ expectations of $11.10 million. Applied Genetic Technologies Corp had a return on equity of 9.32% and a net margin of 22.20%. Applied Genetic Technologies Corp’s quarterly revenue was down 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.17 EPS. Equities research analysts expect that Applied Genetic Technologies Corp will post $0.36 earnings per share for the current fiscal year.

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Several large investors have recently bought and sold shares of AGTC. A.R.T. Advisors LLC bought a new stake in Applied Genetic Technologies Corp during the fourth quarter worth about $110,000. Tudor Investment Corp Et Al raised its stake in Applied Genetic Technologies Corp by 20.6% in the fourth quarter. Tudor Investment Corp Et Al now owns 14,534 shares of the company’s stock worth $136,000 after buying an additional 2,480 shares during the period. ClariVest Asset Management LLC bought a new stake in Applied Genetic Technologies Corp during the third quarter worth about $204,000. Wells Fargo & Company MN raised its stake in Applied Genetic Technologies Corp by 290.2% in the third quarter. Wells Fargo & Company MN now owns 20,936 shares of the company’s stock worth $205,000 after buying an additional 15,570 shares during the period. Finally, Acrospire Investment Management LLC raised its stake in Applied Genetic Technologies Corp by 48.9% in the third quarter. Acrospire Investment Management LLC now owns 23,743 shares of the company’s stock worth $232,000 after buying an additional 7,800 shares during the period. Institutional investors and hedge funds own 56.91% of the company’s stock.

Applied Genetic Technologies Corp 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).

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