Applied Genetic Technologies Corporation (NASDAQ:AGTC)‘s stock had its “outperform” rating reiterated by equities research analysts at BMO Capital Markets in a research note issued on Thursday, The Fly reports.

Other equities research analysts have also recently issued reports about the company. Stifel Nicolaus reduced their price objective on Applied Genetic Technologies Corporation from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday. HC Wainwright set a $16.00 price objective on Applied Genetic Technologies Corporation and gave the stock a “buy” rating in a research note on Thursday, August 10th. ValuEngine cut Applied Genetic Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research raised Applied Genetic Technologies Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $13.47.

Shares of Applied Genetic Technologies Corporation (AGTC) opened at 4.05 on Thursday. The firm has a 50-day moving average price of $4.78 and a 200 day moving average price of $5.65. Applied Genetic Technologies Corporation has a 12-month low of $3.95 and a 12-month high of $10.85. The stock has a market cap of $73.21 million, a PE ratio of 9.67 and a beta of 1.68.

Applied Genetic Technologies Corporation (NASDAQ:AGTC) last issued its quarterly earnings data on Wednesday, September 13th. The biotechnology company reported ($0.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.32). Applied Genetic Technologies Corporation had a return on equity of 6.62% and a net margin of 17.61%. The company had revenue of $8.30 million for the quarter, compared to the consensus estimate of $12.39 million. During the same period in the previous year, the firm earned $0.15 earnings per share. The company’s revenue was down 31.4% compared to the same quarter last year. Equities research analysts expect that Applied Genetic Technologies Corporation will post $0.33 earnings per share for the current year.

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Several institutional investors and hedge funds have recently added to or reduced their stakes in AGTC. Teachers Advisors LLC grew its stake in shares of Applied Genetic Technologies Corporation by 13.1% during the fourth quarter. Teachers Advisors LLC now owns 22,692 shares of the biotechnology company’s stock valued at $212,000 after buying an additional 2,632 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Applied Genetic Technologies Corporation by 44.5% during the first quarter. Bank of Montreal Can now owns 56,732 shares of the biotechnology company’s stock valued at $392,000 after buying an additional 17,481 shares during the last quarter. Strs Ohio grew its stake in shares of Applied Genetic Technologies Corporation by 31.6% during the first quarter. Strs Ohio now owns 85,800 shares of the biotechnology company’s stock valued at $592,000 after buying an additional 20,600 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Applied Genetic Technologies Corporation by 2.5% during the first quarter. Russell Investments Group Ltd. now owns 77,710 shares of the biotechnology company’s stock valued at $535,000 after buying an additional 1,883 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Applied Genetic Technologies Corporation by 1.1% during the first quarter. Wells Fargo & Company MN now owns 19,005 shares of the biotechnology company’s stock valued at $131,000 after buying an additional 200 shares during the last quarter. 54.75% of the stock is currently owned by hedge funds and other 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).

The Fly

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

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