Applied Genetic Technologies Corporation (NASDAQ:AGTC) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

AGTC has been the subject of a number of other research reports. Zacks Investment Research cut Applied Genetic Technologies Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Cantor Fitzgerald lowered their target price on Applied Genetic Technologies Corporation from $15.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 target price (down previously from $16.00) on shares of Applied Genetic Technologies Corporation in a report on Thursday. BMO Capital Markets reaffirmed an “outperform” rating and issued a $7.00 target price (down previously from $14.00) on shares of Applied Genetic Technologies Corporation in a report on Thursday. Finally, Stifel Nicolaus lowered their target price on Applied Genetic Technologies Corporation from $15.00 to $12.00 and set a “buy” rating for the company in a report on Thursday. One 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’s stock. The company presently has an average rating of “Buy” and an average target price of $11.14.

Applied Genetic Technologies Corporation (AGTC) traded down 4.05% during trading on Friday, reaching $3.55. The company had a trading volume of 493,506 shares. Applied Genetic Technologies Corporation has a 12-month low of $3.50 and a 12-month high of $10.85. The firm’s 50 day moving average price is $4.68 and its 200 day moving average price is $5.59. The firm has a market capitalization of $64.17 million, a PE ratio of 8.47 and a beta of 1.68.

Applied Genetic Technologies Corporation (NASDAQ:AGTC) last issued its earnings results on Wednesday, September 13th. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.40). Applied Genetic Technologies Corporation had a return on equity of 1.45% and a net margin of 4.28%. The firm had revenue of $8.30 million during the quarter, compared to analyst estimates of $12.39 million. During the same period in the previous year, the company earned $0.15 EPS. Applied Genetic Technologies Corporation’s revenue for the quarter was down 31.4% on a year-over-year basis. Analysts anticipate that Applied Genetic Technologies Corporation will post ($0.63) earnings per share for the current year.

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Hedge funds have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Applied Genetic Technologies Corporation in the first quarter valued at about $123,000. Wells Fargo & Company MN increased 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 buying an additional 200 shares during the period. Trexquant Investment LP increased its stake in shares of Applied Genetic Technologies Corporation by 3.2% in the second quarter. Trexquant Investment LP now owns 20,000 shares of the biotechnology company’s stock valued at $102,000 after buying an additional 611 shares during the period. Teachers Advisors LLC increased 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 buying an additional 2,632 shares during the period. Finally, Credit Suisse AG increased its stake in shares of Applied Genetic Technologies Corporation by 10.9% in the first quarter. Credit Suisse AG now owns 27,110 shares of the biotechnology company’s stock valued at $187,000 after buying an additional 2,662 shares during the period. 54.75% of the stock is owned by institutional investors.

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).

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

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