Equities analysts expect Applied Genetic Technologies Corporation (NASDAQ:AGTC) to post sales of $10.92 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Applied Genetic Technologies’ earnings, with estimates ranging from $9.84 million to $12.00 million. Applied Genetic Technologies reported sales of $10.93 million in the same quarter last year, which would suggest a negative year over year growth rate of 0.1%. The company is scheduled to report its next earnings report on Wednesday, February 14th.

According to Zacks, analysts expect that Applied Genetic Technologies will report full year sales of $10.92 million for the current year, with estimates ranging from $28.32 million to $49.40 million. For the next year, analysts expect that the business will post sales of $32.97 million per share, with estimates ranging from $15.00 million to $43.90 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Applied Genetic Technologies.

Applied Genetic Technologies (NASDAQ:AGTC) last issued its earnings results on Wednesday, September 13th. The biotechnology company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.40). The business had revenue of $8.30 million during the quarter, compared to analyst estimates of $12.39 million. Applied Genetic Technologies had a negative net margin of 8.78% and a negative return on equity of 2.86%. Applied Genetic Technologies’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.

AGTC has been the topic of a number of research reports. Wedbush reiterated an “outperform” rating and issued a $9.00 target price on shares of Applied Genetic Technologies in a report on Wednesday, November 8th. Zacks Investment Research downgraded Applied Genetic Technologies from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 31st. Cantor Fitzgerald set a $9.00 price objective on Applied Genetic Technologies and gave the stock a “hold” rating in a report on Friday, October 6th. HC Wainwright restated a “buy” rating and issued a $8.00 price objective (down previously from $16.00) on shares of Applied Genetic Technologies in a report on Thursday, September 14th. Finally, ValuEngine downgraded Applied Genetic Technologies from a “hold” rating to a “sell” rating in a report on Friday, September 15th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $10.17.

Shares of Applied Genetic Technologies (AGTC) traded up $0.05 on Monday, hitting $3.80. The stock had a trading volume of 109,900 shares, compared to its average volume of 165,884. Applied Genetic Technologies has a one year low of $3.25 and a one year high of $10.15.

Large investors have recently added to or reduced their stakes in the stock. Trexquant Investment LP boosted its position in Applied Genetic Technologies by 3.2% during the second quarter. Trexquant Investment LP now owns 20,000 shares of the biotechnology company’s stock worth $102,000 after purchasing an additional 611 shares during the period. Nine Chapters Capital Management LLC bought a new stake in Applied Genetic Technologies during the third quarter worth approximately $113,000. Citadel Advisors LLC boosted its position in Applied Genetic Technologies by 304.6% during the third quarter. Citadel Advisors LLC now owns 41,270 shares of the biotechnology company’s stock worth $163,000 after purchasing an additional 31,070 shares during the period. Virtu KCG Holdings LLC bought a new stake in Applied Genetic Technologies during the second quarter worth approximately $178,000. Finally, Credit Suisse AG boosted its position in Applied Genetic Technologies by 10.9% during the first quarter. Credit Suisse AG now owns 27,110 shares of the biotechnology company’s stock worth $187,000 after purchasing an additional 2,662 shares during the period. Hedge funds and other institutional investors own 47.02% 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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