Rodman & Renshaw started coverage on shares of Applied Genetic Technologies Corp (NASDAQ:AGTC) in a research note published on Wednesday. The firm issued a buy rating and a $16.00 price objective on the stock.

A number of other research analysts have also weighed in on AGTC. BMO Capital Markets reaffirmed an outperform rating and set a $20.00 target price on shares of Applied Genetic Technologies Corp in a report on Tuesday, December 13th. Wedbush reaffirmed an outperform rating and set a $15.00 target price on shares of Applied Genetic Technologies Corp in a report on Thursday, February 9th. Stifel Nicolaus reduced their target price 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. Cantor Fitzgerald set a $15.00 target price on Applied Genetic Technologies Corp and gave the company a hold rating in a report on Wednesday, February 8th. Finally, Zacks Investment Research raised Applied Genetic Technologies Corp from a hold rating to a buy rating and set a $7.75 target price for the company in a report on Friday, February 10th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $14.06.

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

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

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Hedge funds and other institutional investors have recently modified their holdings of the company. Interwest Venture Management Co. purchased a new position in Applied Genetic Technologies Corp during the fourth quarter valued at approximately $13,579,000. FMR LLC boosted its position in Applied Genetic Technologies Corp by 2.3% in the fourth quarter. FMR LLC now owns 1,115,494 shares of the company’s stock valued at $10,430,000 after buying an additional 24,864 shares during the period. Acadian Asset Management LLC boosted its position in Applied Genetic Technologies Corp by 32.3% in the third quarter. Acadian Asset Management LLC now owns 660,040 shares of the company’s stock valued at $6,458,000 after buying an additional 161,215 shares during the period. State Street Corp boosted its position in Applied Genetic Technologies Corp by 1.8% in the fourth quarter. State Street Corp now owns 300,983 shares of the company’s stock valued at $2,813,000 after buying an additional 5,452 shares during the period. Finally, Altrinsic Global Advisors LLC boosted its position in Applied Genetic Technologies Corp by 10.1% in the third quarter. Altrinsic Global Advisors LLC now owns 219,000 shares of the company’s stock valued at $2,142,000 after buying an additional 20,000 shares during the period. 56.91% of the stock is owned by institutional investors.

About Applied Genetic Technologies Corp

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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