Shares of Applied Genetic Technologies Corp (NASDAQ:AGTC) have earned an average rating of “Hold” from the seven ratings firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $9.00.
Several brokerages have issued reports on AGTC. Zacks Investment Research raised Applied Genetic Technologies from a “sell” rating to a “hold” rating in a report on Friday, March 30th. HC Wainwright set a $8.00 price target on Applied Genetic Technologies and gave the company a “buy” rating in a report on Friday, February 9th. Wedbush reaffirmed an “outperform” rating on shares of Applied Genetic Technologies in a report on Friday, February 9th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $9.00 price target on shares of Applied Genetic Technologies in a report on Wednesday, January 17th. Finally, ValuEngine downgraded Applied Genetic Technologies from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st.
A number of institutional investors have recently made changes to their positions in AGTC. 683 Capital Management LLC acquired a new stake in Applied Genetic Technologies during the 4th quarter valued at $778,000. Dimensional Fund Advisors LP lifted its holdings in shares of 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 in the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in shares of 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 in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of 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 in the last quarter. Finally, Spark Investment Management LLC lifted its holdings in shares of 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 in the last quarter. 45.88% of the stock is owned by institutional investors and hedge funds.
Applied Genetic Technologies (NASDAQ:AGTC) last released its quarterly earnings data on Friday, February 9th. The biotechnology company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.20). The company had revenue of $4.85 million during the quarter, compared to analyst estimates of $8.72 million. Applied Genetic Technologies had a negative net margin of 33.24% and a negative return on equity of 9.21%. The company’s quarterly revenue was down 55.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.10 EPS. equities analysts predict that Applied Genetic Technologies will post -1.3 EPS for the current fiscal year.
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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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