Applied Genetic Technologies (NASDAQ:AGTC) Issues Quarterly Earnings Results

Applied Genetic Technologies (NASDAQ:AGTC) posted its quarterly earnings results on Tuesday. The biotechnology company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.06), Bloomberg Earnings reports. Applied Genetic Technologies had a negative return on equity of 2.49% and a negative net margin of 4.81%.

Shares of NASDAQ:AGTC traded down $0.13 during midday trading on Wednesday, hitting $2.97. 2,670 shares of the stock traded hands, compared to its average volume of 97,325. The stock has a market capitalization of $56.11 million, a PE ratio of -27.00 and a beta of 2.58. The business’s 50 day moving average is $3.28 and its two-hundred day moving average is $3.63. Applied Genetic Technologies has a one year low of $2.26 and a one year high of $7.48.

Several research firms have weighed in on AGTC. Wedbush boosted their price target on shares of Applied Genetic Technologies from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Janney Montgomery Scott began coverage on shares of Applied Genetic Technologies in a research note on Friday, September 6th. They issued a “buy” rating and a $13.00 price target for the company. Zacks Investment Research downgraded shares of Applied Genetic Technologies from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. BMO Capital Markets raised shares of Applied Genetic Technologies from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $5.00 to $9.00 in a research note on Friday, September 27th. Finally, HC Wainwright reissued a “buy” rating and issued a $18.00 price target (up from $12.00) on shares of Applied Genetic Technologies in a research note on Monday, September 23rd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $11.32.

About Applied Genetic Technologies

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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Earnings History for Applied Genetic Technologies (NASDAQ:AGTC)

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