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.
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.
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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).
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