Applied Genetic Technologies Corporation (NASDAQ:AGTC) – Stock analysts at Wedbush dropped their Q1 2018 earnings estimates for shares of Applied Genetic Technologies Corporation in a research report issued on Wednesday. Wedbush analyst D. Nierengarten now anticipates that the biotechnology company will earn ($0.18) per share for the quarter, down from their previous forecast of ($0.12). Wedbush also issued estimates for Applied Genetic Technologies Corporation’s Q2 2018 earnings at $0.01 EPS, Q3 2018 earnings at ($0.35) EPS, Q4 2018 earnings at ($0.71) EPS, FY2018 earnings at ($1.23) EPS, FY2019 earnings at ($2.09) EPS, FY2020 earnings at $1.30 EPS and FY2021 earnings at $1.19 EPS.

Applied Genetic Technologies Corporation (NASDAQ:AGTC) last posted its quarterly earnings data on Wednesday, September 13th. The biotechnology company reported ($0.18) EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.40). The business had revenue of $8.30 million during the quarter, compared to analysts’ expectations of $12.39 million. Applied Genetic Technologies Corporation had a net margin of 4.28% and a return on equity of 1.45%. The firm’s quarterly revenue was down 31.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.15 earnings per share.

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Several other brokerages have also recently issued reports on AGTC. ValuEngine cut Applied Genetic Technologies Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. HC Wainwright set a $16.00 price objective on Applied Genetic Technologies Corporation and gave the stock a “buy” rating in a report on Saturday, June 10th. Zacks Investment Research cut Applied Genetic Technologies Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Stifel Nicolaus reduced their price objective on Applied Genetic Technologies Corporation from $15.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, September 14th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $7.00 price objective (down from $14.00) on shares of Applied Genetic Technologies Corporation in a report on Thursday, September 14th. One research analyst has rated the stock with a sell rating, three have given 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 a consensus target price of $11.14.

Shares of Applied Genetic Technologies Corporation (NASDAQ AGTC) opened at 3.75 on Monday. Applied Genetic Technologies Corporation has a 12 month low of $3.50 and a 12 month high of $10.85. The company’s 50 day moving average price is $4.65 and its 200 day moving average price is $5.53. The stock has a market capitalization of $67.79 million, a PE ratio of 8.95 and a beta of 1.68.

A number of institutional investors have recently added to or reduced their stakes in AGTC. Renaissance Technologies LLC increased its position in Applied Genetic Technologies Corporation by 378.2% during the first quarter. Renaissance Technologies LLC now owns 252,013 shares of the biotechnology company’s stock worth $1,739,000 after buying an additional 199,313 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new position in Applied Genetic Technologies Corporation during the second quarter worth $954,000. Numeric Investors LLC increased its position in Applied Genetic Technologies Corporation by 23.6% during the second quarter. Numeric Investors LLC now owns 780,088 shares of the biotechnology company’s stock worth $3,978,000 after buying an additional 148,799 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Applied Genetic Technologies Corporation by 1,080.3% during the second quarter. Goldman Sachs Group Inc. now owns 143,606 shares of the biotechnology company’s stock worth $732,000 after buying an additional 131,439 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Applied Genetic Technologies Corporation by 250.2% during the first quarter. Dimensional Fund Advisors LP now owns 159,883 shares of the biotechnology company’s stock worth $1,103,000 after buying an additional 114,230 shares in the last quarter. 54.75% of the stock is owned by institutional investors.

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).

Earnings History and Estimates for Applied Genetic Technologies Corporation (NASDAQ:AGTC)

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