Applied Genetic Technologies Corporation (NASDAQ:AGTC) had its price target lowered by investment analysts at Cantor Fitzgerald from $15.00 to $9.00 in a report issued on Thursday. The brokerage presently has a “neutral” rating on the biotechnology company’s stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 153.52% from the stock’s previous close.

AGTC has been the subject of several other research reports. HC Wainwright set a $16.00 target price on shares of Applied Genetic Technologies Corporation and gave the stock a “buy” rating in a research note on Saturday, June 10th. Stifel Nicolaus reduced 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 note on Thursday. BMO Capital Markets restated an “outperform” rating and issued a $7.00 target price (down previously from $14.00) on shares of Applied Genetic Technologies Corporation in a research note on Thursday. ValuEngine cut shares of Applied Genetic Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research upgraded shares of Applied Genetic Technologies Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. Applied Genetic Technologies Corporation presently has an average rating of “Buy” and a consensus price target of $11.14.

Applied Genetic Technologies Corporation (NASDAQ:AGTC) traded down 4.05% on Thursday, reaching $3.55. 493,506 shares of the company were exchanged. The stock has a market capitalization of $64.17 million, a price-to-earnings ratio of 8.47 and a beta of 1.68. The stock has a 50-day moving average price of $4.68 and a 200 day moving average price of $5.59. Applied Genetic Technologies Corporation has a 52 week low of $3.50 and a 52 week high of $10.85.

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 Zacks’ 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 1.45% and a net margin of 4.28%. The firm’s revenue for the quarter was down 31.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 EPS. Analysts forecast that Applied Genetic Technologies Corporation will post ($0.63) earnings per share for the current year.

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

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

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