Applied Genetic Technologies Corp (AGTC) Given Consensus Recommendation of “Buy” by Analysts

Shares of Applied Genetic Technologies Corp (NASDAQ:AGTC) have earned a consensus recommendation of “Buy” from the seven analysts that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $6.90.

Several research analysts recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $5.75 target price on shares of Applied Genetic Technologies in a research report on Friday, February 8th. BMO Capital Markets lowered Applied Genetic Technologies from an “outperform” rating to a “market perform” rating and set a $5.00 target price for the company. in a research report on Thursday, December 13th. ValuEngine lowered Applied Genetic Technologies from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 5th. TheStreet lowered Applied Genetic Technologies from a “c-” rating to a “d+” rating in a research report on Wednesday, January 2nd. Finally, Zacks Investment Research raised Applied Genetic Technologies from a “hold” rating to a “buy” rating and set a $3.75 target price for the company in a research report on Tuesday, February 12th.

Several hedge funds have recently bought and sold shares of AGTC. Wells Fargo & Company MN raised its position in shares of Applied Genetic Technologies by 9,001.3% in the 3rd quarter. Wells Fargo & Company MN now owns 215,610 shares of the biotechnology company’s stock worth $1,574,000 after acquiring an additional 213,241 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Applied Genetic Technologies by 11.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 911,236 shares of the biotechnology company’s stock worth $2,269,000 after acquiring an additional 93,652 shares in the last quarter. Two Sigma Investments LP raised its position in shares of Applied Genetic Technologies by 64.9% in the 4th quarter. Two Sigma Investments LP now owns 206,522 shares of the biotechnology company’s stock worth $514,000 after acquiring an additional 81,250 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Applied Genetic Technologies by 11.5% in the 3rd quarter. Renaissance Technologies LLC now owns 707,500 shares of the biotechnology company’s stock worth $5,165,000 after acquiring an additional 73,000 shares in the last quarter. Finally, Two Sigma Advisers LP raised its position in shares of Applied Genetic Technologies by 153.8% in the 4th quarter. Two Sigma Advisers LP now owns 80,729 shares of the biotechnology company’s stock worth $201,000 after acquiring an additional 48,922 shares in the last quarter. 43.04% of the stock is owned by hedge funds and other institutional investors.

NASDAQ AGTC opened at $4.40 on Friday. Applied Genetic Technologies has a twelve month low of $2.26 and a twelve month high of $7.50. The firm has a market cap of $79.93 million, a P/E ratio of -3.73 and a beta of 2.85.

Applied Genetic Technologies (NASDAQ:AGTC) last released its quarterly earnings data on Thursday, February 7th. The biotechnology company reported ($0.23) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.64) by $0.41. Applied Genetic Technologies had a negative return on equity of 19.73% and a negative net margin of 61.04%. The company had revenue of $5.93 million for the quarter. Research analysts forecast that Applied Genetic Technologies will post -1.25 earnings per share for the current year.

Applied Genetic Technologies Company Profile

Applied Genetic Technologies Corporation, a clinical-stage biotechnology company, develops transformational genetic therapies for patients suffering from rare and debilitating diseases. The company's lead products consist of four ophthalmology development programs across three targets, including X-linked retinoschisis that is in Phase I/II clinical trials; X-linked retinitis pigmentosa, which is in Phase I/II clinical trials; and achromatopsia that is in Phase I/II clinical trials for the treatment of inherited retinal diseases, as well as a preclinical program in adrenoleukodystrophy, which is a disease of the central nervous system and otology.

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