Applied Genetic Technologies Corp. (NASDAQ:AGTC) was upgraded by investment analysts at Roth Capital from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday. The firm currently has a $15.00 target price on the stock, up from their prior target price of $12.00. Roth Capital’s price target would indicate a potential upside of 59.57% from the company’s previous close.

Several other equities analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Applied Genetic Technologies Corp. from a “hold” rating to a “buy” rating and set a $9.25 price target on the stock in a research report on Monday, October 17th. Wedbush reaffirmed an “outperform” rating and issued a $17.00 price target (down previously from $20.00) on shares of Applied Genetic Technologies Corp. in a research report on Wednesday. BMO Capital Markets dropped their price target on shares of Applied Genetic Technologies Corp. from $25.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 13th. Janney Montgomery Scott raised shares of Applied Genetic Technologies Corp. from a “sell” rating to a “neutral” rating and set a $11.00 price target on the stock in a research report on Monday, September 26th. Finally, Wells Fargo & Co. cut shares of Applied Genetic Technologies Corp. from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $16.80.

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

Applied Genetic Technologies Corp. (NASDAQ:AGTC) opened at 9.40 on Wednesday. The stock’s market capitalization is $169.70 million. The stock’s 50 day moving average price is $8.55 and its 200-day moving average price is $13.06. Applied Genetic Technologies Corp. has a 12-month low of $6.35 and a 12-month high of $21.43.

Applied Genetic Technologies Corp. (NASDAQ:AGTC) last announced its quarterly earnings results on Tuesday, November 8th. The company reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.28. Applied Genetic Technologies Corp. had a net margin of 23.63% and a return on equity of 10.56%. The business had revenue of $11.80 million for the quarter, compared to analysts’ expectations of $10.21 million. During the same quarter last year, the firm earned ($0.53) EPS. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. Analysts expect that Applied Genetic Technologies Corp. will post ($0.61) earnings per share for the current year.

In related news, insider Mark S. Shearman purchased 3,000 shares of the stock in a transaction that occurred on Thursday, September 22nd. The shares were bought at an average price of $8.87 per share, with a total value of $26,610.00. Following the acquisition, the insider now owns 1,700 shares of the company’s stock, valued at approximately $15,079. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Lawrence E. Bullock purchased 10,000 shares of the 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 approximately $87,500. The disclosure for this purchase can be found here. 2.46% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the company. American International Group Inc. boosted its stake in Applied Genetic Technologies Corp. by 41.9% in the second quarter. American International Group Inc. now owns 7,308 shares of the company’s stock worth $103,000 after buying an additional 2,157 shares during the period. KCG Holdings Inc. bought a new stake in Applied Genetic Technologies Corp. during the third quarter worth approximately $105,000. Rhumbline Advisers boosted its stake in Applied Genetic Technologies Corp. by 3.5% in the third quarter. Rhumbline Advisers now owns 11,452 shares of the company’s stock worth $112,000 after buying an additional 385 shares during the period. BlackRock Inc. boosted its stake in Applied Genetic Technologies Corp. by 610.6% in the second quarter. BlackRock Inc. now owns 8,648 shares of the company’s stock worth $122,000 after buying an additional 7,431 shares during the period. Finally, Nationwide Fund Advisors boosted its stake in 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 period. 61.31% of the stock is currently owned by institutional investors.

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).

5 Day Chart for NASDAQ:AGTC

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