BMO Capital Markets reissued their buy rating on shares of Applied Genetic Technologies Corp. (NASDAQ:AGTC) in a research note released on Wednesday. They currently have a $20.00 target price on the stock.

AGTC has been the topic of several other research reports. Roth Capital restated a neutral rating and set a $12.00 price objective on shares of Applied Genetic Technologies Corp. in a report on Sunday, October 23rd. Cantor Fitzgerald downgraded Applied Genetic Technologies Corp. from a buy rating to a hold rating and cut their price objective for the stock from $32.00 to $15.00 in a report on Tuesday, September 13th. Zacks Investment Research downgraded Applied Genetic Technologies Corp. from a buy rating to a hold rating in a report on Friday, October 28th. Janney Montgomery Scott downgraded Applied Genetic Technologies Corp. from a buy rating to a sell rating and cut their price objective for the stock from $23.00 to $11.00 in a report on Tuesday, September 13th. Finally, Wedbush restated an outperform rating and set a $17.00 price objective (down previously from $20.00) on shares of Applied Genetic Technologies Corp. in a report on Wednesday, November 9th. One research 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 currently has an average rating of Hold and an average target price of $16.80.

Applied Genetic Technologies Corp. (NASDAQ:AGTC) opened at 9.85 on Wednesday. The firm’s 50-day moving average is $8.58 and its 200-day moving average is $13.00. The firm’s market capitalization is $177.82 million. 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 posted its quarterly earnings data on Tuesday, November 8th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.28. The firm had revenue of $11.80 million for the quarter, compared to the consensus estimate of $10.21 million. Applied Genetic Technologies Corp. had a return on equity of 10.56% and a net margin of 23.63%. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.53) EPS. On average, equities research analysts expect that Applied Genetic Technologies Corp. will post ($0.10) EPS for the current year.

In other news, CFO Lawrence E. Bullock purchased 10,000 shares of the stock in a transaction that occurred on Monday, September 19th. The stock was acquired at an average price of $8.75 per share, with a total value of $87,500.00. Following the purchase, the chief financial officer now owns 10,000 shares in the company, valued at approximately $87,500. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark S. Shearman purchased 3,000 shares of the stock in a transaction that occurred on Thursday, September 22nd. The stock was purchased at an average cost of $8.87 per share, with a total value of $26,610.00. Following the purchase, the insider now owns 1,700 shares in the company, valued at approximately $15,079. The disclosure for this purchase can be found here. 2.46% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in AGTC. American International Group Inc. boosted its stake in shares of 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 valued at $103,000 after buying an additional 2,157 shares during the last quarter. KCG Holdings Inc. purchased a new stake in shares of Applied Genetic Technologies Corp. during the third quarter valued at approximately $105,000. Rhumbline Advisers boosted its stake in shares of Applied Genetic Technologies Corp. by 3.5% in the third quarter. Rhumbline Advisers now owns 11,452 shares of the company’s stock valued at $112,000 after buying an additional 385 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Applied Genetic Technologies Corp. by 610.6% in the second quarter. BlackRock Inc. now owns 8,648 shares of the company’s stock valued at $122,000 after buying an additional 7,431 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its stake 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 valued at $141,000 after buying an additional 2,139 shares during the last quarter. 57.91% of the stock is owned by institutional investors and hedge funds.

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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