Applied Genetic Technologies (NASDAQ:AGTC) Releases Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Applied Genetic Technologies (NASDAQ:AGTC) released its earnings results on Thursday. The biotechnology company reported ($0.58) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.54) by ($0.04), Fidelity Earnings reports. The company had revenue of $0.41 million for the quarter, compared to the consensus estimate of $0.71 million. Applied Genetic Technologies had a net margin of 4.06% and a return on equity of 2.22%.

AGTC opened at $4.00 on Friday. The business has a fifty day moving average of $3.41 and a 200 day moving average of $3.89. Applied Genetic Technologies has a 52-week low of $2.26 and a 52-week high of $7.50. The stock has a market cap of $68.14 million, a P/E ratio of -3.39 and a beta of 2.55.

Several research firms have recently weighed in on AGTC. Janney Montgomery Scott began coverage on Applied Genetic Technologies in a research report on Friday, September 6th. They set a “buy” rating and a $13.00 target price on the stock. BMO Capital Markets upgraded Applied Genetic Technologies from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $5.00 to $9.00 in a report on Friday. Wedbush boosted their price objective on Applied Genetic Technologies from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday. Chardan Capital upgraded Applied Genetic Technologies from a “neutral” rating to a “buy” rating and set a $7.50 price objective for the company in a report on Tuesday, September 3rd. Finally, Zacks Investment Research cut Applied Genetic Technologies from a “buy” rating to a “hold” rating in a report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $11.32.

Applied Genetic Technologies Company Profile

Applied Genetic Technologies Corporation, a clinical-stage biotechnology company, develops transformational genetic therapies for patients suffering from rare and debilitating diseases. The company's lead products consist of four ophthalmology development programs across three targets, including X-linked retinoschisis that is in Phase I/II clinical trials; X-linked retinitis pigmentosa, which is in Phase I/II clinical trials; and achromatopsia that is in Phase I/II clinical trials for the treatment of inherited retinal diseases, as well as a preclinical program in adrenoleukodystrophy, which is a disease of the central nervous system and otology.

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Earnings History for Applied Genetic Technologies (NASDAQ:AGTC)

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