Applied Genetic Technologies Corporation (NASDAQ:AGTC) had its target price cut by investment analysts at Stifel Nicolaus from $15.00 to $12.00 in a note issued to investors on Thursday. The firm presently has a “buy” rating on the biotechnology company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 196.30% from the company’s current price.

AGTC has been the topic of several other reports. Zacks Investment Research downgraded shares of Applied Genetic Technologies Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. ValuEngine downgraded shares of Applied Genetic Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, HC Wainwright set a $16.00 target price on shares of Applied Genetic Technologies Corporation and gave the company a “buy” rating in a research note on Thursday, August 10th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $13.47.

Applied Genetic Technologies Corporation (NASDAQ:AGTC) opened at 4.05 on Thursday. The company has a 50-day moving average price of $4.78 and a 200-day moving average price of $5.65. Applied Genetic Technologies Corporation has a one year low of $3.95 and a one year high of $10.85. The firm has a market cap of $73.21 million, a PE ratio of 9.67 and a beta of 1.68.

Applied Genetic Technologies Corporation (NASDAQ:AGTC) last announced its earnings results on Wednesday, September 13th. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.32). Applied Genetic Technologies Corporation had a net margin of 17.61% and a return on equity of 6.62%. The firm had revenue of $8.30 million for the quarter, compared to analyst estimates of $12.39 million. During the same period last year, the firm earned $0.15 earnings per share. Applied Genetic Technologies Corporation’s revenue for the quarter was down 31.4% compared to the same quarter last year. Equities analysts predict that Applied Genetic Technologies Corporation will post $0.33 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently bought and sold shares of AGTC. Teachers Advisors LLC increased its stake in shares of Applied Genetic Technologies Corporation by 13.1% in the fourth quarter. Teachers Advisors LLC now owns 22,692 shares of the biotechnology company’s stock worth $212,000 after acquiring an additional 2,632 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Applied Genetic Technologies Corporation by 44.5% in the first quarter. Bank of Montreal Can now owns 56,732 shares of the biotechnology company’s stock worth $392,000 after acquiring an additional 17,481 shares during the last quarter. Strs Ohio increased its stake in shares of Applied Genetic Technologies Corporation by 31.6% in the first quarter. Strs Ohio now owns 85,800 shares of the biotechnology company’s stock worth $592,000 after acquiring an additional 20,600 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Applied Genetic Technologies Corporation by 2.5% in the first quarter. Russell Investments Group Ltd. now owns 77,710 shares of the biotechnology company’s stock worth $535,000 after acquiring an additional 1,883 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Applied Genetic Technologies Corporation by 1.1% in the first quarter. Wells Fargo & Company MN now owns 19,005 shares of the biotechnology company’s stock worth $131,000 after acquiring an additional 200 shares during the last quarter. 54.75% of the stock is currently owned by institutional investors and hedge funds.

Applied Genetic Technologies Corporation 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).

Analyst Recommendations for Applied Genetic Technologies Corporation (NASDAQ:AGTC)

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