Applied Genetic Technologies (AGTC) PT Set at $8.00 by HC Wainwright

Applied Genetic Technologies (NASDAQ:AGTC) received a $8.00 target price from equities researchers at HC Wainwright in a research report issued on Thursday. The brokerage currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price target points to a potential upside of 19.40% from the company’s current price.

A number of other equities analysts also recently issued reports on AGTC. Chardan Capital downgraded Applied Genetic Technologies from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $10.00 to $5.00 in a research report on Tuesday, September 11th. Zacks Investment Research downgraded Applied Genetic Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, September 13th. Wells Fargo & Co raised Applied Genetic Technologies from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $20.00 to $6.00 in a research report on Monday, September 24th. Finally, ValuEngine downgraded Applied Genetic Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $6.45.

Shares of AGTC stock opened at $6.70 on Thursday. The firm has a market cap of $123.29 million, a PE ratio of -5.68 and a beta of 2.03. Applied Genetic Technologies has a 12-month low of $3.45 and a 12-month high of $7.50.

Applied Genetic Technologies (NASDAQ:AGTC) last issued its quarterly earnings results on Thursday, November 8th. The biotechnology company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.57. The business had revenue of $14.03 million for the quarter, compared to the consensus estimate of $2.90 million. Applied Genetic Technologies had a negative return on equity of 19.77% and a negative net margin of 88.06%. Equities research analysts anticipate that Applied Genetic Technologies will post -1.59 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Marquette Asset Management LLC purchased a new stake in shares of Applied Genetic Technologies during the second quarter valued at $129,000. Point72 Asset Management L.P. grew its holdings in shares of Applied Genetic Technologies by 18.9% during the second quarter. Point72 Asset Management L.P. now owns 214,000 shares of the biotechnology company’s stock valued at $792,000 after buying an additional 34,000 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Applied Genetic Technologies by 9,001.3% during the third quarter. Wells Fargo & Company MN now owns 215,610 shares of the biotechnology company’s stock valued at $1,574,000 after buying an additional 213,241 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Applied Genetic Technologies by 28.5% during the second quarter. Renaissance Technologies LLC now owns 634,500 shares of the biotechnology company’s stock valued at $2,348,000 after buying an additional 140,700 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Applied Genetic Technologies by 24.5% during the first quarter. Dimensional Fund Advisors LP now owns 632,540 shares of the biotechnology company’s stock valued at $2,435,000 after buying an additional 124,422 shares during the last quarter. 48.42% 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.

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Analyst Recommendations for Applied Genetic Technologies (NASDAQ:AGTC)

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