Applied Genetic Technologies Corporation (NASDAQ:AGTC)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a research report issued to clients and investors on Thursday. They currently have a $8.00 target price on the biotechnology company’s stock, down from their previous target price of $16.00. HC Wainwright’s price objective would indicate a potential upside of 97.53% from the stock’s previous close.

AGTC has been the topic of several other research reports. Zacks Investment Research lowered shares of Applied Genetic Technologies Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. ValuEngine cut shares of Applied Genetic Technologies Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Cantor Fitzgerald decreased their target price on shares of Applied Genetic Technologies Corporation from $15.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday. Stifel Nicolaus decreased their target price on shares of Applied Genetic Technologies Corporation from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday. Finally, BMO Capital Markets restated an “outperform” rating on shares of Applied Genetic Technologies Corporation in a research report on Thursday. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $11.92.

Shares of Applied Genetic Technologies Corporation (NASDAQ:AGTC) traded down 8.025% during midday trading on Thursday, reaching $3.725. The company’s stock had a trading volume of 313,351 shares. Applied Genetic Technologies Corporation has a 1-year low of $3.73 and a 1-year high of $10.85. The stock has a 50 day moving average of $4.78 and a 200-day moving average of $5.65. The company has a market capitalization of $67.33 million, a P/E ratio of 8.890 and a beta of 1.68.

Applied Genetic Technologies Corporation (NASDAQ:AGTC) last released its quarterly earnings data on Wednesday, September 13th. The biotechnology company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.40). The business had revenue of $8.30 million for the quarter, compared to analyst estimates of $12.39 million. Applied Genetic Technologies Corporation had a return on equity of 6.62% and a net margin of 17.61%. Applied Genetic Technologies Corporation’s revenue was down 31.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.15 EPS. On average, equities research analysts anticipate that Applied Genetic Technologies Corporation will post ($0.11) earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the business. InterWest Venture Management Co grew its position in Applied Genetic Technologies Corporation by 0.3% in the 2nd quarter. InterWest Venture Management Co now owns 1,455,904 shares of the biotechnology company’s stock worth $7,425,000 after purchasing an additional 3,688 shares during the last quarter. Interwest Venture Management Co. bought a new position in shares of Applied Genetic Technologies Corporation in the fourth quarter valued at approximately $13,579,000. FMR LLC boosted its holdings in shares of Applied Genetic Technologies Corporation by 2.3% in the fourth quarter. FMR LLC now owns 1,115,494 shares of the biotechnology company’s stock valued at $10,430,000 after acquiring an additional 24,864 shares in the last quarter. Numeric Investors LLC boosted its holdings in shares of Applied Genetic Technologies Corporation by 23.6% in the second quarter. Numeric Investors LLC now owns 780,088 shares of the biotechnology company’s stock valued at $3,978,000 after acquiring an additional 148,799 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of Applied Genetic Technologies Corporation by 0.5% in the fourth quarter. Jennison Associates LLC now owns 677,610 shares of the biotechnology company’s stock valued at $13,823,000 after acquiring an additional 3,248 shares in the last quarter. Hedge funds and other institutional investors own 54.75% of the company’s stock.

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).

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

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