Applied Genetic Technologies Corp. (NASDAQ:AGTC) had its price objective decreased by BMO Capital Markets from $25.00 to $20.00 in a research report sent to investors on Tuesday morning. BMO Capital Markets currently has an outperform rating on the stock.

A number of other equities analysts have also weighed in on AGTC. Janney Montgomery Scott lowered shares of Applied Genetic Technologies Corp. from a buy rating to a sell rating and lowered their price target for the stock from $23.00 to $11.00 in a research report on Tuesday, September 13th. Wedbush lowered their price target on shares of Applied Genetic Technologies Corp. from $36.00 to $20.00 and set an outperform rating on the stock in a research report on Tuesday, September 13th. Cantor Fitzgerald lowered shares of Applied Genetic Technologies Corp. from a buy rating to a hold rating and lowered their price target for the stock from $32.00 to $15.00 in a research report on Tuesday, September 13th. Wells Fargo & Co. lowered shares of Applied Genetic Technologies Corp. from an outperform rating to a market perform rating in a research report on Tuesday, September 13th. Finally, Stifel Nicolaus lowered their price target on shares of Applied Genetic Technologies Corp. from $29.00 to $24.00 and set a buy rating on the stock in a research report on Tuesday, September 13th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $17.44.

Applied Genetic Technologies Corp. (NASDAQ:AGTC) opened at 8.92 on Tuesday. Applied Genetic Technologies Corp. has a 12 month low of $8.58 and a 12 month high of $21.43. The stock’s market capitalization is $161.03 million. The stock’s 50 day moving average is $14.20 and its 200-day moving average is $14.96.

Applied Genetic Technologies Corp. (NASDAQ:AGTC) last announced its earnings results on Monday, September 12th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.08. Applied Genetic Technologies Corp. had a negative net margin of 2.92% and a negative return on equity of 1.34%. The business had revenue of $12.10 million for the quarter. During the same quarter last year, the business earned ($0.48) EPS. The firm’s revenue for the quarter was up 1604.2% compared to the same quarter last year. On average, equities research analysts expect that Applied Genetic Technologies Corp. will post ($0.61) earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC increased its stake in Applied Genetic Technologies Corp. by 234.3% in the first quarter. Acadian Asset Management LLC now owns 296,464 shares of the company’s stock worth $4,145,000 after buying an additional 207,776 shares during the period. TIAA CREF Investment Management LLC increased its stake in Applied Genetic Technologies Corp. by 40.7% in the first quarter. TIAA CREF Investment Management LLC now owns 81,415 shares of the company’s stock worth $1,138,000 after buying an additional 23,564 shares during the period. BlackRock Fund Advisors increased its stake in Applied Genetic Technologies Corp. by 3.7% in the first quarter. BlackRock Fund Advisors now owns 462,972 shares of the company’s stock worth $6,472,000 after buying an additional 16,541 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in Applied Genetic Technologies Corp. by 13.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 162,328 shares of the company’s stock worth $2,269,000 after buying an additional 19,736 shares during the period. Finally, Acrospire Investment Management LLC bought a new stake in Applied Genetic Technologies Corp. during the first quarter worth about $197,000. 60.17% of the stock is currently owned by institutional investors and hedge funds.

About Applied Genetic Technologies Corp.

Applied Genetic Technologies Corp is a United States-based clinical stage biotechnology company. The Company develops gene therapy products for the treatment of inherited and acquired diseases. Its products are used to treat Alpha One Antitrypsin Deficiency (Alpha-1), a respiratory disease caused by deficiencies in the tissue protective protein alpha one antitrypsin; and Lebers congenital amaurosis, an inherited condition causing early blindness.

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