Applied Genetic Technologies Corp (NASDAQ:AGTC) – Equities researchers at Wedbush dropped their FY2017 earnings per share (EPS) estimates for Applied Genetic Technologies Corp in a research report issued to clients and investors on Thursday. Wedbush analyst D. Nierengarten now anticipates that the biotechnology company will post earnings of $0.23 per share for the year, down from their prior forecast of $0.30. Wedbush currently has a “Outperform” rating and a $15.00 target price on the stock. Wedbush also issued estimates for Applied Genetic Technologies Corp’s Q4 2017 earnings at ($0.04) EPS, Q1 2018 earnings at ($0.12) EPS, Q3 2018 earnings at ($0.27) EPS, Q4 2018 earnings at ($0.63) EPS, FY2018 earnings at ($0.94) EPS and FY2019 earnings at ($1.76) EPS.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research raised shares of Applied Genetic Technologies Corp from a “hold” rating to a “buy” rating and set a $7.75 price objective for the company in a report on Friday, February 10th. Cantor Fitzgerald set a $15.00 price objective on shares of Applied Genetic Technologies Corp and gave the company a “hold” rating in a report on Wednesday, May 10th. Stifel Nicolaus cut their price objective on shares of Applied Genetic Technologies Corp from $18.00 to $15.00 and set a “buy” rating for the company in a report on Thursday. BMO Capital Markets cut their price objective on shares of 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. Finally, Rodman & Renshaw began coverage on shares of Applied Genetic Technologies Corp in a report on Wednesday, March 15th. They set a “buy” rating and a $16.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Applied Genetic Technologies Corp has an average rating of “Buy” and a consensus price target of $13.53.

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

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Applied Genetic Technologies Corp (NASDAQ:AGTC) opened at 5.80 on Monday. Applied Genetic Technologies Corp has a 52 week low of $5.25 and a 52 week high of $17.41. The stock has a market cap of $104.88 million, a PE ratio of 13.74 and a beta of 1.69. The company’s 50-day moving average is $6.16 and its 200 day moving average is $7.84.

Applied Genetic Technologies Corp (NASDAQ:AGTC) last issued its quarterly earnings data on Wednesday, May 10th. The biotechnology company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.01) by $0.04. The firm had revenue of $8.39 million for the quarter, compared to analysts’ expectations of $10.39 million. Applied Genetic Technologies Corp had a net margin of 22.20% and a return on equity of 9.32%. Applied Genetic Technologies Corp’s revenue was down 30.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.11 EPS.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN raised its position in Applied Genetic Technologies Corp by 290.2% in the third quarter. Wells Fargo & Company MN now owns 20,936 shares of the biotechnology company’s stock worth $205,000 after buying an additional 15,570 shares during the period. BlackRock Advisors LLC raised its position in Applied Genetic Technologies Corp by 106.0% in the third quarter. BlackRock Advisors LLC now owns 106,138 shares of the biotechnology company’s stock valued at $1,038,000 after buying an additional 54,612 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in Applied Genetic Technologies Corp during the fourth quarter valued at approximately $747,000. State Street Corp raised its position in Applied Genetic Technologies Corp by 1.8% in the fourth quarter. State Street Corp now owns 300,983 shares of the biotechnology company’s stock valued at $2,813,000 after buying an additional 5,452 shares during the last quarter. Finally, Dimensional Fund Advisors LP purchased a new position in Applied Genetic Technologies Corp during the fourth quarter valued at approximately $427,000. 56.91% of the stock is owned by hedge funds and other 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).

5 Day Chart for NASDAQ:AGTC

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