Brokerages Anticipate Applied Genetic Technologies Corp (AGTC) to Post -$0.25 Earnings Per Share

Brokerages predict that Applied Genetic Technologies Corp (NASDAQ:AGTC) will post earnings per share (EPS) of ($0.25) for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Applied Genetic Technologies’ earnings. The lowest EPS estimate is ($0.31) and the highest is ($0.13). Applied Genetic Technologies reported earnings per share of ($0.05) during the same quarter last year, which would suggest a negative year over year growth rate of 400%. The company is expected to report its next quarterly earnings report on Wednesday, May 9th.

According to Zacks, analysts expect that Applied Genetic Technologies will report full-year earnings of ($1.30) per share for the current financial year, with EPS estimates ranging from ($2.38) to ($0.63). For the next year, analysts anticipate that the firm will report earnings of ($1.96) per share, with EPS estimates ranging from ($2.52) to ($1.18). Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Applied Genetic Technologies.

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Applied Genetic Technologies (NASDAQ:AGTC) last announced its earnings results on Friday, February 9th. The biotechnology company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.20). The business had revenue of $4.85 million for the quarter, compared to the consensus estimate of $8.72 million. Applied Genetic Technologies had a negative net margin of 33.24% and a negative return on equity of 9.21%. Applied Genetic Technologies’s revenue was down 55.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 EPS.

A number of equities analysts recently commented on AGTC shares. Cantor Fitzgerald restated a “hold” rating and set a $9.00 target price on shares of Applied Genetic Technologies in a report on Wednesday, January 17th. ValuEngine downgraded Applied Genetic Technologies from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st. Wedbush restated an “outperform” rating on shares of Applied Genetic Technologies in a report on Friday, February 9th. HC Wainwright set a $8.00 target price on Applied Genetic Technologies and gave the company a “buy” rating in a report on Friday, February 9th. Finally, Zacks Investment Research downgraded Applied Genetic Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $9.00.

Shares of Applied Genetic Technologies stock traded down $0.10 during midday trading on Friday, reaching $3.85. 61,032 shares of the company’s stock traded hands, compared to its average volume of 92,215. The company has a market cap of $69.70, a PE ratio of 192.50 and a beta of 2.18. Applied Genetic Technologies has a 12 month low of $3.25 and a 12 month high of $7.05.

A number of hedge funds have recently modified their holdings of the stock. 683 Capital Management LLC purchased a new stake in Applied Genetic Technologies in the fourth quarter worth $778,000. Municipal Employees Retirement System of Michigan grew its stake in Applied Genetic Technologies by 66.7% in the fourth quarter. Municipal Employees Retirement System of Michigan now owns 311,820 shares of the biotechnology company’s stock worth $1,123,000 after purchasing an additional 124,810 shares during the period. Two Sigma Investments LP grew its stake in Applied Genetic Technologies by 29.9% in the fourth quarter. Two Sigma Investments LP now owns 60,892 shares of the biotechnology company’s stock worth $219,000 after purchasing an additional 14,011 shares during the period. Renaissance Technologies LLC grew its stake in Applied Genetic Technologies by 32.5% in the fourth quarter. Renaissance Technologies LLC now owns 444,428 shares of the biotechnology company’s stock worth $1,600,000 after purchasing an additional 109,128 shares during the period. Finally, Spark Investment Management LLC grew its stake in Applied Genetic Technologies by 122.1% in the fourth quarter. Spark Investment Management LLC now owns 107,700 shares of the biotechnology company’s stock worth $387,000 after purchasing an additional 59,200 shares during the period. 45.88% of the stock is currently owned by institutional investors.

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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).

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Earnings History and Estimates for Applied Genetic Technologies (NASDAQ:AGTC)

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