Applied Genetic Technologies (NASDAQ:AGTC) Receives Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Applied Genetic Technologies (NASDAQ:AGTC) in a report published on Wednesday, TipRanks reports. HC Wainwright currently has a $18.00 price target on the biotechnology company’s stock.

AGTC has been the topic of several other reports. Janney Montgomery Scott assumed coverage on shares of Applied Genetic Technologies in a research report on Friday, September 6th. They set a buy rating and a $13.00 price objective on the stock. Zacks Investment Research downgraded shares of Applied Genetic Technologies from a hold rating to a sell rating in a research report on Monday, November 4th. Wedbush raised their price objective on shares of Applied Genetic Technologies from $11.00 to $12.00 and gave the company an outperform rating in a research report on Friday, September 27th. TheStreet downgraded shares of Applied Genetic Technologies from a c- rating to a d rating in a research report on Monday, September 30th. Finally, ValuEngine upgraded shares of Applied Genetic Technologies from a sell rating to a hold rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. Applied Genetic Technologies has a consensus rating of Buy and a consensus price target of $11.32.

Shares of AGTC opened at $2.77 on Wednesday. The firm has a 50 day moving average of $3.23 and a 200 day moving average of $3.60. The company has a market capitalization of $52.29 million, a P/E ratio of -25.18 and a beta of 2.58. Applied Genetic Technologies has a twelve month low of $2.26 and a twelve month high of $7.13. The company has a quick ratio of 9.01, a current ratio of 7.95 and a debt-to-equity ratio of 0.08.

Applied Genetic Technologies (NASDAQ:AGTC) last issued its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($0.64) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.58) by ($0.06). Applied Genetic Technologies had a negative return on equity of 19.02% and a negative net margin of 4.81%. On average, sell-side analysts expect that Applied Genetic Technologies will post -2.32 EPS for the current year.

Several hedge funds have recently made changes to their positions in the company. Wedbush Securities Inc. bought a new stake in shares of Applied Genetic Technologies during the 3rd quarter valued at $304,000. Colony Group LLC bought a new stake in shares of Applied Genetic Technologies during the 2nd quarter valued at $610,000. D. E. Shaw & Co. Inc. increased its holdings in Applied Genetic Technologies by 21.7% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 57,902 shares of the biotechnology company’s stock valued at $219,000 after acquiring an additional 10,329 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Applied Genetic Technologies by 28.8% in the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 81,624 shares of the biotechnology company’s stock valued at $309,000 after acquiring an additional 18,265 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in Applied Genetic Technologies by 10.1% in the 2nd quarter. BlackRock Inc. now owns 310,941 shares of the biotechnology company’s stock valued at $1,179,000 after acquiring an additional 28,429 shares during the last quarter. Hedge funds and other institutional investors own 37.22% of the company’s stock.

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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Analyst Recommendations for Applied Genetic Technologies (NASDAQ:AGTC)

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