Applied Genetic Technologies Corp (AGTC) Expected to Announce Earnings of -$0.02 Per Share

Equities analysts expect that Applied Genetic Technologies Corp (NASDAQ:AGTC) will report ($0.02) earnings per share for the current quarter, Zacks reports. Four analysts have made estimates for Applied Genetic Technologies Corp’s earnings. The highest EPS estimate is $0.10 and the lowest is ($0.28). Applied Genetic Technologies Corp posted earnings per share of $0.11 during the same quarter last year, which would suggest a negative year over year growth rate of 118.2%. The business is scheduled to report its next earnings results on Monday, May 8th.

On average, analysts expect that Applied Genetic Technologies Corp will report full year earnings of $0.34 per share for the current fiscal year, with EPS estimates ranging from ($0.38) to $1.16. For the next year, analysts anticipate that the company will report earnings of ($0.42) per share, with EPS estimates ranging from ($1.69) to $0.52. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Applied Genetic Technologies Corp.

Applied Genetic Technologies Corp (NASDAQ:AGTC) last released its earnings results on Wednesday, February 8th. The biotechnology company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.09. Applied Genetic Technologies Corp had a return on equity of 9.32% and a net margin of 22.20%. The company earned $10.90 million during the quarter, compared to analyst estimates of $11.10 million. During the same quarter in the previous year, the company posted $0.17 EPS. Applied Genetic Technologies Corp’s revenue for the quarter was down 10.7% on a year-over-year basis.

AGTC has been the subject of a number of research reports. BMO Capital Markets cut their target price on shares of Applied Genetic Technologies Corp from $20.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, February 9th. Stifel Nicolaus cut their target price on shares of Applied Genetic Technologies Corp from $22.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 9th. Zacks Investment Research raised shares of Applied Genetic Technologies Corp from a “hold” rating to a “buy” rating and set a $7.75 target price for the company in a research note on Friday, February 10th. Rodman & Renshaw initiated coverage on shares of Applied Genetic Technologies Corp in a research note on Wednesday, March 15th. They set a “buy” rating and a $16.00 target price for the company. Finally, Cantor Fitzgerald set a $15.00 target price on shares of Applied Genetic Technologies Corp and gave the stock a “hold” rating in a research note on Wednesday, February 8th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Applied Genetic Technologies Corp has an average rating of “Buy” and a consensus target price of $13.91.

A number of hedge funds have recently made changes to their positions in the stock. Interwest Venture Management Co. purchased a new stake in Applied Genetic Technologies Corp during the fourth quarter worth about $13,579,000. Acadian Asset Management LLC increased its stake in Applied Genetic Technologies Corp by 32.3% in the third quarter. Acadian Asset Management LLC now owns 660,040 shares of the biotechnology company’s stock worth $6,458,000 after buying an additional 161,215 shares in the last quarter. AQR Capital Management LLC increased its stake in Applied Genetic Technologies Corp by 114.4% in the fourth quarter. AQR Capital Management LLC now owns 213,688 shares of the biotechnology company’s stock worth $1,998,000 after buying an additional 114,034 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in Applied Genetic Technologies Corp during the fourth quarter worth about $747,000. Finally, GSA Capital Partners LLP increased its stake in Applied Genetic Technologies Corp by 145.2% in the fourth quarter. GSA Capital Partners LLP now owns 113,300 shares of the biotechnology company’s stock worth $1,059,000 after buying an additional 67,100 shares in the last quarter. 56.91% of the stock is owned by institutional investors.

Applied Genetic Technologies Corp (NASDAQ:AGTC) traded down 3.13% during midday trading on Monday, hitting $6.20. The stock had a trading volume of 91,688 shares. Applied Genetic Technologies Corp has a 1-year low of $5.90 and a 1-year high of $19.86. The stock’s 50-day moving average is $6.97 and its 200-day moving average is $8.22. The company has a market capitalization of $112.11 million, a PE ratio of 10.78 and a beta of 1.69.

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About Applied Genetic Technologies Corp

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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