$6.21 Million in Sales Expected for Applied Genetic Technologies Corp (AGTC) This Quarter

Equities analysts predict that Applied Genetic Technologies Corp (NASDAQ:AGTC) will report $6.21 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Applied Genetic Technologies’ earnings, with estimates ranging from $6.00 million to $6.41 million. Applied Genetic Technologies reported sales of $8.39 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 26%. The company is expected to issue its next earnings report on Wednesday, May 9th.

According to Zacks, analysts expect that Applied Genetic Technologies will report full-year sales of $6.21 million for the current year, with estimates ranging from $21.09 million to $31.00 million. For the next financial year, analysts forecast that the company will report sales of $26.87 million per share, with estimates ranging from $7.70 million to $40.00 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Applied Genetic Technologies.

Applied Genetic Technologies (NASDAQ:AGTC) last announced its quarterly earnings data on Friday, February 9th. The biotechnology company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.20). Applied Genetic Technologies had a negative return on equity of 9.21% and a negative net margin of 33.24%. The firm had revenue of $4.85 million during the quarter, compared to the consensus estimate of $8.72 million. During the same period last year, the company earned $0.10 EPS. The firm’s revenue for the quarter was down 55.5% compared to the same quarter last year.

Several research analysts recently issued reports on AGTC shares. HC Wainwright set a $8.00 price objective on Applied Genetic Technologies and gave the stock a “buy” rating in a research note on Friday, February 9th. Cantor Fitzgerald reissued a “hold” rating and issued a $9.00 price objective on shares of Applied Genetic Technologies in a research note on Wednesday, January 17th. Wedbush reissued an “outperform” rating on shares of Applied Genetic Technologies in a research note on Friday, February 9th. Zacks Investment Research cut Applied Genetic Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. Finally, ValuEngine lowered Applied Genetic Technologies from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $9.00.

Shares of Applied Genetic Technologies stock traded down $0.25 during trading hours on Friday, reaching $4.20. The company had a trading volume of 67,988 shares, compared to its average volume of 106,773. Applied Genetic Technologies has a 52 week low of $3.25 and a 52 week high of $7.05. The company has a market capitalization of $79.21, a PE ratio of -7.00 and a beta of 2.18.

A number of institutional investors have recently bought and sold shares of AGTC. 683 Capital Management LLC purchased a new stake in Applied Genetic Technologies during the fourth quarter worth $778,000. Dimensional Fund Advisors LP lifted its holdings in Applied Genetic Technologies by 48.1% during the third quarter. Dimensional Fund Advisors LP now owns 394,490 shares of the biotechnology company’s stock worth $1,558,000 after buying an additional 128,049 shares during the period. Municipal Employees Retirement System of Michigan lifted its holdings in Applied Genetic Technologies by 66.7% during the fourth quarter. Municipal Employees Retirement System of Michigan now owns 311,820 shares of the biotechnology company’s stock worth $1,123,000 after buying an additional 124,810 shares during the period. Renaissance Technologies LLC lifted its holdings in Applied Genetic Technologies by 32.5% during the fourth quarter. Renaissance Technologies LLC now owns 444,428 shares of the biotechnology company’s stock worth $1,600,000 after buying an additional 109,128 shares during the period. Finally, Spark Investment Management LLC lifted its holdings in Applied Genetic Technologies by 122.1% during the fourth quarter. Spark Investment Management LLC now owns 107,700 shares of the biotechnology company’s stock worth $387,000 after buying an additional 59,200 shares during the period. Institutional investors own 45.88% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This piece was published by Ticker Report and is the sole property of of Ticker Report. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of United States & international copyright law. The legal version of this piece can be accessed at https://www.tickerreport.com/banking-finance/3294368/6-21-million-in-sales-expected-for-applied-genetic-technologies-corp-agtc-this-quarter.html.

About Applied Genetic Technologies

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).

Get a free copy of the Zacks research report on Applied Genetic Technologies (AGTC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Applied Genetic Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Genetic Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Heidrick & Struggles  Expected to Post Q2 2018 Earnings of $0.43 Per Share
Heidrick & Struggles Expected to Post Q2 2018 Earnings of $0.43 Per Share
TheStreet Lowers Acxiom  to C+
TheStreet Lowers Acxiom to C+
TheStreet Downgrades Gridsum  to D
TheStreet Downgrades Gridsum to D
Stifel Nicolaus Cuts Williams Pipeline Partners  Price Target to $41.00
Stifel Nicolaus Cuts Williams Pipeline Partners Price Target to $41.00
Cowen Initiates Coverage on Unum Therapeutics
Cowen Initiates Coverage on Unum Therapeutics
OneSmart International Education Group  Earns Overweight Rating from Analysts at Morgan Stanley
OneSmart International Education Group Earns Overweight Rating from Analysts at Morgan Stanley


© 2006-2018 Ticker Report. Google+.