Shares of Applied Genetic Technologies Corporation (NASDAQ:AGTC) have earned an average recommendation of “Hold” from the nine research firms that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $11.71.

Several research firms have commented on AGTC. HC Wainwright set a $16.00 price target on shares of Applied Genetic Technologies Corporation and gave the stock a “buy” rating in a research note on Thursday, August 10th. Stifel Nicolaus cut their target price on shares of Applied Genetic Technologies Corporation from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, September 14th. ValuEngine cut shares of Applied Genetic Technologies Corporation from a “hold” rating to a “sell” rating in a report on Friday, September 15th. 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 report on Thursday, September 14th. Finally, Zacks Investment Research cut shares of Applied Genetic Technologies Corporation from a “hold” rating to a “strong sell” rating in a report on Tuesday.

Applied Genetic Technologies Corporation (NASDAQ:AGTC) last posted its quarterly earnings results on Wednesday, September 13th. The biotechnology company reported ($0.18) EPS 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 analysts’ expectations of $12.39 million. Applied Genetic Technologies Corporation had a return on equity of 1.45% and a net margin of 4.28%. The company’s revenue was down 31.4% compared to the same quarter last year. During the same period last year, the business posted $0.15 earnings per share.

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Hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN boosted its holdings in shares of Applied Genetic Technologies Corporation by 1.1% during the 1st 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. Trexquant Investment LP boosted its holdings in shares of Applied Genetic Technologies Corporation by 3.2% during the 2nd 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. Credit Suisse AG boosted its holdings in shares of Applied Genetic Technologies Corporation by 10.9% during the 1st 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. Nine Chapters Capital Management LLC bought a new stake in shares of Applied Genetic Technologies Corporation during the 3rd quarter valued at $113,000. Finally, Virtu KCG Holdings LLC bought a new stake in shares of Applied Genetic Technologies Corporation during the 2nd quarter valued at $178,000. Hedge funds and other institutional investors own 54.60% 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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