Applied Genetic Technologies Corporation (NASDAQ:AGTC) released its earnings results on Wednesday. The biotechnology company reported ($0.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.40), MarketWatch Earnings reports. The company had revenue of $8.30 million during the quarter, compared to analysts’ expectations of $12.39 million. Applied Genetic Technologies Corporation had a net margin of 17.61% and a return on equity of 6.62%. The firm’s revenue was down 31.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.15 earnings per share.

Shares of Applied Genetic Technologies Corporation (NASDAQ:AGTC) opened at 4.05 on Thursday. Applied Genetic Technologies Corporation has a 1-year low of $3.95 and a 1-year high of $10.85. The firm’s 50-day moving average is $4.78 and its 200-day moving average is $5.65. The company has a market capitalization of $73.21 million, a price-to-earnings ratio of 9.67 and a beta of 1.68.

AGTC has been the topic of a number of recent research reports. ValuEngine lowered shares of Applied Genetic Technologies Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. HC Wainwright set a $16.00 price target on shares of Applied Genetic Technologies Corporation and gave the stock a “buy” rating in a report on Saturday, June 10th. Zacks Investment Research lowered shares of Applied Genetic Technologies Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. BMO Capital Markets reissued an “outperform” rating on shares of Applied Genetic Technologies Corporation in a report on Thursday. Finally, Stifel Nicolaus decreased their price target on shares of Applied Genetic Technologies Corporation from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Applied Genetic Technologies Corporation currently has an average rating of “Buy” and a consensus price target of $13.47.

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About Applied Genetic Technologies Corporation

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).

Earnings History for Applied Genetic Technologies Corporation (NASDAQ:AGTC)

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