-$0.09 EPS Expected for Applied Genetic Technologies Corporation (AGTC) This Quarter

Equities analysts expect Applied Genetic Technologies Corporation (NASDAQ:AGTC) to announce earnings of ($0.09) per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Applied Genetic Technologies’ earnings. The highest EPS estimate is ($0.01) and the lowest is ($0.13). Applied Genetic Technologies reported earnings of $0.11 per share in the same quarter last year, which suggests a negative year over year growth rate of 181.8%. The company is expected to issue its next earnings report on Wednesday, February 14th.

On average, analysts expect that Applied Genetic Technologies will report full year earnings of ($1.14) per share for the current fiscal year, with EPS estimates ranging from ($2.45) to ($0.45). For the next fiscal year, analysts anticipate that the company will report earnings of ($1.62) per share, with EPS estimates ranging from ($2.17) to ($0.78). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Applied Genetic Technologies.

Applied Genetic Technologies (NASDAQ:AGTC) last posted its quarterly earnings results on Wednesday, September 13th. The biotechnology company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.40). The company had revenue of $8.30 million during the quarter, compared to analysts’ expectations of $12.39 million. Applied Genetic Technologies had a negative return on equity of 2.86% and a negative net margin of 8.78%. The business’s quarterly revenue was down 31.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.15 EPS.

Several brokerages have commented on AGTC. HC Wainwright set a $16.00 target price on Applied Genetic Technologies and gave the company a “buy” rating in a research note on Thursday, August 10th. Stifel Nicolaus cut their target price on Applied Genetic Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, September 14th. Cantor Fitzgerald cut their target price on Applied Genetic Technologies from $15.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, September 14th. BMO Capital Markets reiterated an “outperform” rating and set a $7.00 target price (down from $14.00) on shares of Applied Genetic Technologies in a research note on Thursday, September 14th. Finally, ValuEngine downgraded Applied Genetic Technologies from a “hold” rating to a “sell” rating in a research note on Friday, September 15th. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $10.17.

Applied Genetic Technologies (AGTC) traded up $0.05 during trading on Friday, hitting $3.80. The company had a trading volume of 109,951 shares, compared to its average volume of 94,731. Applied Genetic Technologies has a 52 week low of $3.25 and a 52 week high of $10.15.

Several hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in shares of Applied Genetic Technologies by 48.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 394,490 shares of the biotechnology company’s stock worth $1,558,000 after buying an additional 128,049 shares during the last quarter. Citadel Advisors LLC boosted its stake in shares of Applied Genetic Technologies by 304.6% in the 3rd quarter. Citadel Advisors LLC now owns 41,270 shares of the biotechnology company’s stock worth $163,000 after buying an additional 31,070 shares during the last quarter. ClariVest Asset Management LLC boosted its stake in shares of Applied Genetic Technologies by 18.5% in the 3rd quarter. ClariVest Asset Management LLC now owns 99,013 shares of the biotechnology company’s stock worth $391,000 after buying an additional 15,491 shares during the last quarter. Nine Chapters Capital Management LLC purchased a new position in shares of Applied Genetic Technologies in the 3rd quarter worth $113,000. Finally, DAFNA Capital Management LLC boosted its stake in shares of Applied Genetic Technologies by 2.4% in the 2nd quarter. DAFNA Capital Management LLC now owns 421,000 shares of the biotechnology company’s stock worth $2,147,000 after buying an additional 10,000 shares during the last quarter. Hedge funds and other institutional investors own 47.00% of the company’s stock.

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About Applied Genetic Technologies

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 (NASDAQ:AGTC)

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