Chardan Capital Lowers Applied Genetic Technologies (AGTC) to Neutral

Chardan Capital downgraded shares of Applied Genetic Technologies (NASDAQ:AGTC) from a buy rating to a neutral rating in a research note published on Tuesday, MarketBeat Ratings reports. They currently have $5.00 price objective on the biotechnology company’s stock, down from their prior price objective of $10.00.

AGTC has been the topic of several other reports. Zacks Investment Research cut shares of Applied Genetic Technologies from a buy rating to a hold rating in a research report on Tuesday, July 10th. ValuEngine raised shares of Applied Genetic Technologies from a strong sell rating to a sell rating in a research report on Sunday, May 20th. Finally, HC Wainwright set a $8.00 price target on shares of Applied Genetic Technologies and gave the stock a buy rating in a research report on Monday, August 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The company has an average rating of Hold and an average price target of $7.75.

AGTC opened at $3.90 on Tuesday. The firm has a market capitalization of $71.61 million, a P/E ratio of -3.31 and a beta of 2.14. Applied Genetic Technologies has a 12 month low of $3.25 and a 12 month high of $5.75.

Applied Genetic Technologies (NASDAQ:AGTC) last posted its quarterly earnings data on Monday, September 10th. The biotechnology company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.20). The company had revenue of $5.42 million during the quarter, compared to the consensus estimate of $6.87 million. Applied Genetic Technologies had a negative net margin of 88.06% and a negative return on equity of 19.77%. equities analysts predict that Applied Genetic Technologies will post -1.68 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of AGTC. Alambic Investment Management L.P. increased its stake in shares of Applied Genetic Technologies by 16.8% during the 1st quarter. Alambic Investment Management L.P. now owns 111,082 shares of the biotechnology company’s stock worth $428,000 after purchasing an additional 15,938 shares during the last quarter. Marquette Asset Management LLC acquired a new position in shares of Applied Genetic Technologies during the 2nd quarter worth about $129,000. Altrinsic Global Advisors LLC increased its stake in shares of Applied Genetic Technologies by 7.8% during the 1st quarter. Altrinsic Global Advisors LLC now owns 246,900 shares of the biotechnology company’s stock worth $951,000 after purchasing an additional 17,900 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Applied Genetic Technologies during the 1st quarter worth about $693,000. Finally, Ancora Advisors LLC increased its stake in shares of Applied Genetic Technologies by 270.8% during the 1st quarter. Ancora Advisors LLC now owns 74,154 shares of the biotechnology company’s stock worth $285,000 after purchasing an additional 54,154 shares during the last quarter. 48.50% of the stock is currently owned by hedge funds and other institutional investors.

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.

Featured Story: New Google Finance Tool and Screening Stocks

Analyst Recommendations for Applied Genetic Technologies (NASDAQ:AGTC)

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

Leave a Reply