Applied Genetic Technologies Corporation (NASDAQ:AGTC) – Equities researchers at Wedbush issued their FY2022 earnings per share (EPS) estimates for Applied Genetic Technologies Corporation in a note issued to investors on Wednesday. Wedbush analyst D. Nierengarten forecasts that the biotechnology company will earn ($0.07) per share for the year.

Applied Genetic Technologies Corporation (NASDAQ:AGTC) last issued its quarterly earnings results on Wednesday, September 13th. The biotechnology company reported ($0.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.40). The firm had revenue of $8.30 million during the quarter, compared to analysts’ expectations of $12.39 million. Applied Genetic Technologies Corporation had a return on equity of 1.44% and a net margin of 4.28%. Applied Genetic Technologies Corporation’s revenue for the quarter was down 31.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.15 earnings per share. COPYRIGHT VIOLATION NOTICE: This piece was originally published by American Banking News and is owned by of American Banking News. If you are viewing this piece on another website, it was stolen and republished in violation of United States and international trademark and copyright law. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2017/09/15/wedbush-comments-on-applied-genetic-technologies-corporations-fy2022-earnings-agtc.html.

Other equities research analysts have also issued reports about the company. HC Wainwright set a $16.00 target price on Applied Genetic Technologies Corporation and gave the company a “buy” rating in a research report on Saturday, June 10th. ValuEngine lowered Applied Genetic Technologies Corporation from a “hold” rating to a “sell” rating in a research report on Friday. Stifel Nicolaus decreased their target price on Applied Genetic Technologies Corporation from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday. BMO Capital Markets reaffirmed an “outperform” rating and set a $7.00 target price (down from $14.00) on shares of Applied Genetic Technologies Corporation in a research report on Thursday. Finally, Cantor Fitzgerald decreased their target price on Applied Genetic Technologies Corporation from $15.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $11.14.

Shares of Applied Genetic Technologies Corporation (AGTC) traded down 4.05% during midday trading on Friday, reaching $3.55. The company had a trading volume of 492,895 shares. The firm’s 50 day moving average price is $4.71 and its 200-day moving average price is $5.62. The stock has a market capitalization of $64.17 million, a price-to-earnings ratio of 8.47 and a beta of 1.68. Applied Genetic Technologies Corporation has a 1-year low of $3.50 and a 1-year high of $10.85.

Large investors have recently made changes to their positions in the company. Trexquant Investment LP increased its holdings in shares of Applied Genetic Technologies Corporation by 3.2% in the 2nd quarter. Trexquant Investment LP now owns 20,000 shares of the biotechnology company’s stock valued at $102,000 after acquiring an additional 611 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Applied Genetic Technologies Corporation in the 1st quarter valued at $123,000. Wells Fargo & Company MN increased its holdings in shares of Applied Genetic Technologies Corporation by 1.1% in the 1st quarter. Wells Fargo & Company MN now owns 19,005 shares of the biotechnology company’s stock valued at $131,000 after acquiring an additional 200 shares during the period. Virtu KCG Holdings LLC purchased a new position in shares of Applied Genetic Technologies Corporation in the 2nd quarter valued at $178,000. Finally, Credit Suisse AG increased its holdings in shares of Applied Genetic Technologies Corporation by 10.9% in the 1st quarter. Credit Suisse AG now owns 27,110 shares of the biotechnology company’s stock valued at $187,000 after acquiring an additional 2,662 shares during the period. Institutional investors and hedge funds own 54.75% of the company’s stock.

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).

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

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