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

Shares of Applied Genetic Technologies Corp (NASDAQ:AGTC) have earned a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $10.17.

Several analysts recently commented on AGTC shares. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Applied Genetic Technologies in a report on Wednesday, November 8th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $9.00 price objective on shares of Applied Genetic Technologies in a report on Wednesday, January 17th. Wedbush reaffirmed an “outperform” rating and issued a $9.00 price objective on shares of Applied Genetic Technologies in a report on Wednesday, November 8th. Zacks Investment Research lowered Applied Genetic Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. Finally, ValuEngine lowered Applied Genetic Technologies from a “sell” rating to a “strong sell” rating in a report on Sunday, December 31st.

Shares of Applied Genetic Technologies (AGTC) opened at $3.95 on Friday. Applied Genetic Technologies has a fifty-two week low of $3.25 and a fifty-two week high of $8.40. The company has a market capitalization of $76.90, a price-to-earnings ratio of -19.75 and a beta of 2.03.

Applied Genetic Technologies (NASDAQ:AGTC) last issued its quarterly earnings data on Tuesday, November 7th. The biotechnology company reported ($0.08) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.06. Applied Genetic Technologies had a negative return on equity of 2.86% and a negative net margin of 8.78%. equities analysts predict that Applied Genetic Technologies will post -1.14 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AGTC. Virtu KCG Holdings LLC purchased a new position in Applied Genetic Technologies during the second quarter valued at $178,000. Dimensional Fund Advisors LP lifted its position in Applied Genetic Technologies by 66.6% during the second quarter. Dimensional Fund Advisors LP now owns 266,441 shares of the biotechnology company’s stock valued at $1,359,000 after purchasing an additional 106,558 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Applied Genetic Technologies by 1,080.3% during the second quarter. Goldman Sachs Group Inc. now owns 143,606 shares of the biotechnology company’s stock valued at $732,000 after purchasing an additional 131,439 shares in the last quarter. Nine Chapters Capital Management LLC purchased a new position in Applied Genetic Technologies during the third quarter valued at $113,000. Finally, ClariVest Asset Management LLC lifted its position in Applied Genetic Technologies by 18.5% during the third quarter. ClariVest Asset Management LLC now owns 99,013 shares of the biotechnology company’s stock valued at $391,000 after purchasing an additional 15,491 shares in the last quarter. Institutional investors own 46.59% of the company’s stock.

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Applied Genetic Technologies Company Profile

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 (NASDAQ:AGTC)

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