HC Wainwright Reiterates “$16.00” Price Target for Applied Genetic Technologies Corporation (AGTC)

Applied Genetic Technologies Corporation (NASDAQ:AGTC) has been assigned a $16.00 price objective by equities research analysts at HC Wainwright in a report released on Thursday. The brokerage currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price target indicates a potential upside of 220.00% from the company’s current price.

Other equities analysts have also issued reports about the company. Stifel Nicolaus reduced their price objective on Applied Genetic Technologies Corporation from $18.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, May 11th. ValuEngine lowered Applied Genetic Technologies Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research lowered Applied Genetic Technologies Corporation from a “buy” rating to a “hold” rating in a report on Thursday, May 11th. Finally, Cantor Fitzgerald set a $15.00 price objective on Applied Genetic Technologies Corporation and gave the company a “hold” rating in a report on Wednesday, May 10th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $13.81.

Applied Genetic Technologies Corporation (AGTC) traded down 1.00% during mid-day trading on Thursday, reaching $4.95. The company had a trading volume of 45,736 shares. The company’s 50-day moving average is $4.99 and its 200-day moving average is $6.10. Applied Genetic Technologies Corporation has a one year low of $4.50 and a one year high of $15.78. The stock has a market capitalization of $89.48 million, a PE ratio of 11.81 and a beta of 1.68.

Applied Genetic Technologies Corporation (NASDAQ:AGTC) last announced its quarterly earnings data on Wednesday, May 10th. The biotechnology company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.01) by $0.04. Applied Genetic Technologies Corporation had a net margin of 17.61% and a return on equity of 6.62%. The firm had revenue of $8.39 million for the quarter, compared to the consensus estimate of $10.39 million. During the same period last year, the company posted $0.11 earnings per share. Applied Genetic Technologies Corporation’s revenue for the quarter was down 30.1% on a year-over-year basis. Equities research analysts anticipate that Applied Genetic Technologies Corporation will post $0.33 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: “HC Wainwright Reiterates “$16.00” Price Target for Applied Genetic Technologies Corporation (AGTC)” was published by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this story on another domain, it was stolen and republished in violation of United States and international copyright law. The original version of this story can be accessed at https://sportsperspectives.com/2017/08/10/hc-wainwright-reiterates-16-00-price-target-for-applied-genetic-technologies-corporation-agtc.html.

Several large investors have recently bought and sold shares of AGTC. State Street Corp increased its stake in Applied Genetic Technologies Corporation by 1.8% in the fourth quarter. State Street Corp now owns 300,983 shares of the biotechnology company’s stock valued at $2,813,000 after buying an additional 5,452 shares in the last quarter. Teachers Advisors LLC increased its stake in Applied Genetic Technologies Corporation by 13.1% in the fourth quarter. Teachers Advisors LLC now owns 22,692 shares of the biotechnology company’s stock valued at $212,000 after buying an additional 2,632 shares in the last quarter. Highbridge Capital Management LLC bought a new stake in Applied Genetic Technologies Corporation during the fourth quarter valued at about $191,000. Bank of Montreal Can increased its stake in Applied Genetic Technologies Corporation by 44.5% in the first quarter. Bank of Montreal Can now owns 56,732 shares of the biotechnology company’s stock valued at $392,000 after buying an additional 17,481 shares in the last quarter. Finally, CAPROCK Group Inc. increased its stake in Applied Genetic Technologies Corporation by 55.8% in the first quarter. CAPROCK Group Inc. now owns 17,215 shares of the biotechnology company’s stock valued at $119,000 after buying an additional 6,165 shares in the last quarter. Hedge funds and other institutional investors own 62.22% 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)

Receive News & Ratings for Applied Genetic Technologies Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Genetic Technologies Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply