Applied Genetic Technologies Corporation (NASDAQ:AGTC) had its target price dropped by analysts at Stifel Nicolaus from $15.00 to $12.00 in a note issued to investors on Thursday. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 196.30% from the stock’s previous close.

A number of other research analysts also recently commented on AGTC. HC Wainwright set a $16.00 target price on shares of Applied Genetic Technologies Corporation and gave the company a “buy” rating in a research report on Saturday, June 10th. Zacks Investment Research raised shares of Applied Genetic Technologies Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, ValuEngine downgraded shares of Applied Genetic Technologies Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $13.47.

Applied Genetic Technologies Corporation (NASDAQ AGTC) opened at 4.05 on Thursday. The company’s 50-day moving average is $4.78 and its 200-day moving average is $5.65. The firm has a market capitalization of $73.21 million, a P/E ratio of 9.67 and a beta of 1.68. Applied Genetic Technologies Corporation has a 52-week low of $3.95 and a 52-week high of $10.85.

Applied Genetic Technologies Corporation (NASDAQ:AGTC) last posted its earnings results on Wednesday, September 13th. The biotechnology company reported ($0.18) EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.32). 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 company’s quarterly revenue was down 31.4% on a year-over-year basis. During the same period last year, the business earned $0.15 earnings per share. On average, analysts predict that Applied Genetic Technologies Corporation will post $0.33 EPS for the current year.

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A number of institutional investors have recently modified their holdings of AGTC. Trexquant Investment LP grew its position in Applied Genetic Technologies Corporation by 3.2% during the 2nd quarter. Trexquant Investment LP now owns 20,000 shares of the biotechnology company’s stock worth $102,000 after purchasing an additional 611 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Applied Genetic Technologies Corporation during the 1st quarter worth $123,000. Wells Fargo & Company MN grew its position in Applied Genetic Technologies Corporation by 1.1% during the 1st quarter. Wells Fargo & Company MN now owns 19,005 shares of the biotechnology company’s stock worth $131,000 after purchasing an additional 200 shares during the last quarter. Virtu KCG Holdings LLC purchased a new position in Applied Genetic Technologies Corporation during the 2nd quarter worth $178,000. Finally, Credit Suisse AG grew its position in Applied Genetic Technologies Corporation by 10.9% during the 1st quarter. Credit Suisse AG now owns 27,110 shares of the biotechnology company’s stock worth $187,000 after purchasing an additional 2,662 shares during the last quarter. 54.75% of the stock is currently owned by institutional investors.

Applied Genetic Technologies Corporation Company Profile

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).

Analyst Recommendations for Applied Genetic Technologies Corporation (NASDAQ:AGTC)

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