Applied Genetic Technologies Corporation (AGTC) Downgraded to Sell at ValuEngine

ValuEngine downgraded shares of Applied Genetic Technologies Corporation (NASDAQ:AGTC) from a hold rating to a sell rating in a research note issued to investors on Friday morning.

A number of other research firms also recently weighed in on AGTC. HC Wainwright set a $16.00 price target on Applied Genetic Technologies Corporation and gave the stock a buy rating in a research report on Saturday, June 10th. Zacks Investment Research raised Applied Genetic Technologies Corporation from a sell rating to a hold rating in a research report on Tuesday, July 25th. Cantor Fitzgerald reduced their price target on Applied Genetic Technologies Corporation from $15.00 to $9.00 and set a neutral rating for the company in a research report on Thursday. Stifel Nicolaus reduced their price target on Applied Genetic Technologies Corporation from $15.00 to $12.00 and set a buy rating for the company in a research report on Thursday. Finally, BMO Capital Markets reaffirmed an outperform rating and set a $7.00 price target (down previously from $14.00) on shares of Applied Genetic Technologies Corporation in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. Applied Genetic Technologies Corporation has an average rating of Buy and a consensus target price of $11.14.

Applied Genetic Technologies Corporation (NASDAQ:AGTC) traded down 4.05% during mid-day trading on Friday, reaching $3.55. 493,506 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $4.68 and a 200 day moving average price of $5.59. The company has a market cap of $64.17 million, a PE ratio of 8.47 and a beta of 1.68. Applied Genetic Technologies Corporation has a 52-week low of $3.50 and a 52-week high of $10.85.

Applied Genetic Technologies Corporation (NASDAQ:AGTC) last released its quarterly earnings results on Wednesday, September 13th. The biotechnology company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.40). Applied Genetic Technologies Corporation had a return on equity of 1.45% and a net margin of 4.28%. 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 company earned $0.15 EPS. The company’s revenue was down 31.4% compared to the same quarter last year. Equities analysts predict that Applied Genetic Technologies Corporation will post ($0.63) earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its holdings in shares of Applied Genetic Technologies Corporation by 1.1% in the 1st quarter. Wells Fargo & Company MN now owns 19,005 shares of the biotechnology company’s stock valued at $131,000 after buying an additional 200 shares during the last quarter. Trexquant Investment LP boosted its holdings in shares of Applied Genetic Technologies Corporation by 3.2% in the 2nd quarter. Trexquant Investment LP now owns 20,000 shares of the biotechnology company’s stock valued at $102,000 after buying an additional 611 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Applied Genetic Technologies Corporation by 2.5% in the 1st quarter. Russell Investments Group Ltd. now owns 77,710 shares of the biotechnology company’s stock valued at $535,000 after buying an additional 1,883 shares during the last quarter. Teachers Advisors LLC boosted its holdings in shares of Applied Genetic Technologies Corporation by 13.1% in the 4th quarter. Teachers Advisors LLC now owns 22,692 shares of the biotechnology company’s stock valued at $212,000 after buying an additional 2,632 shares during the last quarter. Finally, Credit Suisse AG boosted its holdings in shares of Applied Genetic Technologies Corporation by 10.9% in the 1st quarter. Credit Suisse AG now owns 27,110 shares of the biotechnology company’s stock valued at $187,000 after buying an additional 2,662 shares during the last quarter. 54.75% of the stock is owned by institutional investors.

About Applied Genetic Technologies Corporation

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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