Analysts expect that Applied Genetic Technologies Corporation (NASDAQ:AGTC) will announce sales of $7.83 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Applied Genetic Technologies Corporation’s earnings, with estimates ranging from $6.27 million to $9.23 million. Applied Genetic Technologies Corporation posted sales of $11.81 million in the same quarter last year, which suggests a negative year-over-year growth rate of 33.7%. The company is scheduled to issue its next earnings results on Tuesday, November 14th.

On average, analysts expect that Applied Genetic Technologies Corporation will report full-year sales of $7.83 million for the current fiscal year, with estimates ranging from $26.00 million to $49.40 million. For the next financial year, analysts forecast that the company will report sales of $29.79 million per share, with estimates ranging from $15.00 million to $43.90 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Applied Genetic Technologies Corporation.

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 $0.22 by ($0.40). Applied Genetic Technologies Corporation had a return on equity of 1.45% and a net margin of 4.28%. The business had revenue of $8.30 million during the quarter, compared to the consensus estimate of $12.39 million. During the same quarter last 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.

A number of equities research analysts recently commented on AGTC shares. Cantor Fitzgerald set a $9.00 target price on Applied Genetic Technologies Corporation and gave the stock a “hold” rating in a report on Friday, October 6th. Zacks Investment Research downgraded Applied Genetic Technologies Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. HC Wainwright reaffirmed a “buy” rating and set a $8.00 target price (down previously from $16.00) on shares of Applied Genetic Technologies Corporation in a report on Thursday, September 14th. ValuEngine downgraded Applied Genetic Technologies Corporation from a “hold” rating to a “sell” rating in a report on Friday, September 15th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $7.00 target price (down previously from $14.00) on shares of Applied Genetic Technologies Corporation in a report on Thursday, September 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $11.71.

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Shares of Applied Genetic Technologies Corporation (AGTC) traded up 0.658% during trading on Thursday, hitting $3.825. 23,412 shares of the stock traded hands. The stock has a 50 day moving average of $3.97 and a 200 day moving average of $4.90. Applied Genetic Technologies Corporation has a 52-week low of $3.50 and a 52-week high of $10.85. The firm has a market cap of $69.18 million, a price-to-earnings ratio of 191.250 and a beta of 1.63.

Several institutional investors have recently bought and sold shares of AGTC. Trexquant Investment LP increased its position 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 in the last quarter. Wells Fargo & Company MN increased its position 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 in the last quarter. Virtu KCG Holdings LLC purchased a new stake in shares of Applied Genetic Technologies Corporation in the second quarter valued at approximately $178,000. Credit Suisse AG increased its position 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 in the last quarter. Finally, LMR Partners LLP purchased a new stake in shares of Applied Genetic Technologies Corporation in the second quarter valued at approximately $275,000. Institutional investors and hedge funds own 54.59% 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).

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

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