Zacks Investment Research upgraded shares of Applied Genetic Technologies Corp. (NASDAQ:AGTC) from a hold rating to a buy rating in a research note released on Tuesday morning. Zacks Investment Research currently has $11.00 price target on the stock.

According to Zacks, “Applied Genetic Technologies Corporation is a clinical-stage biotechnology company. It develops gene therapy products for inherited orphan ophthalmology diseases. Its lead product candidates in the preclinical stage include treatments for X-linked retinoschisis, Achromatopsia, and X-linked retinitis pigmentosa, which are diseases of the eye caused by mutations in single genes. Applied Genetic Technologies Corporation is headquartered in Alachua, Florida. “

A number of other research analysts have also recently commented on the company. Janney Montgomery Scott raised Applied Genetic Technologies Corp. from a sell rating to a neutral rating and set a $11.00 target price on the stock in a research note on Monday, September 26th. Roth Capital cut Applied Genetic Technologies Corp. from a buy rating to a neutral rating and reduced their target price for the company from $34.00 to $12.00 in a research note on Tuesday, September 13th. BMO Capital Markets reduced their price objective on Applied Genetic Technologies Corp. from $25.00 to $20.00 and set an outperform rating on the stock in a research note on Tuesday, September 13th. Cantor Fitzgerald cut Applied Genetic Technologies Corp. from a buy rating to a hold rating and reduced their price objective for the company from $32.00 to $15.00 in a research note on Tuesday, September 13th. Finally, Wells Fargo & Co. cut Applied Genetic Technologies Corp. from an outperform rating to a market perform rating in a research note on Tuesday, September 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The company has an average rating of Hold and a consensus target price of $17.00.

Analyst Recommendations for Applied Genetic Technologies Corp. (NASDAQ:AGTC)

Shares of Applied Genetic Technologies Corp. (NASDAQ:AGTC) traded down 1.71% during trading on Tuesday, hitting $9.19. The stock had a trading volume of 32,558 shares. The firm’s 50 day moving average is $10.84 and its 200 day moving average is $14.29. The company’s market cap is $165.91 million. Applied Genetic Technologies Corp. has a 1-year low of $8.50 and a 1-year high of $21.43.

Applied Genetic Technologies Corp. (NASDAQ:AGTC) last released its earnings results on Monday, September 12th. The company reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.08. The business had revenue of $12.10 million for the quarter. Applied Genetic Technologies Corp. had a negative return on equity of 1.34% and a negative net margin of 2.92%. The firm’s revenue was up 1604.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.48) EPS. Equities research analysts anticipate that Applied Genetic Technologies Corp. will post ($0.61) EPS for the current fiscal year.

In other news, CFO Lawrence E. Bullock acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 19th. The stock was bought at an average cost of $8.75 per share, for a total transaction of $87,500.00. Following the acquisition, the chief financial officer now directly owns 10,000 shares in the company, valued at $87,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark S. Shearman acquired 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 22nd. The stock was purchased at an average price of $8.87 per share, with a total value of $26,610.00. Following the completion of the acquisition, the insider now owns 1,700 shares in the company, valued at $15,079. The disclosure for this purchase can be found here. Insiders own 2.46% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the company. ProShare Advisors LLC raised its position in shares of Applied Genetic Technologies Corp. by 3.8% in the second quarter. ProShare Advisors LLC now owns 14,980 shares of the company’s stock worth $212,000 after buying an additional 547 shares during the last quarter. Strs Ohio raised its position in shares of Applied Genetic Technologies Corp. by 3.7% in the second quarter. Strs Ohio now owns 42,300 shares of the company’s stock worth $597,000 after buying an additional 1,500 shares during the last quarter. Acrospire Investment Management LLC raised its position in shares of Applied Genetic Technologies Corp. by 13.1% in the second quarter. Acrospire Investment Management LLC now owns 15,943 shares of the company’s stock worth $225,000 after buying an additional 1,842 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Applied Genetic Technologies Corp. by 4.7% in the second quarter. Bank of New York Mellon Corp now owns 47,067 shares of the company’s stock worth $665,000 after buying an additional 2,126 shares during the last quarter. Finally, Nationwide Fund Advisors raised its position in shares of Applied Genetic Technologies Corp. by 27.3% in the second quarter. Nationwide Fund Advisors now owns 9,987 shares of the company’s stock worth $141,000 after buying an additional 2,139 shares during the last quarter. Institutional investors own 60.10% of the company’s stock.

Applied Genetic Technologies Corp. 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).

5 Day Chart for NASDAQ:AGTC

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