Rodman & Renshaw started coverage on shares of Applied Genetic Technologies Corp (NASDAQ:AGTC) in a research note issued to investors on Wednesday. The firm issued a buy rating and a $16.00 target price on the stock.

Several other analysts have also issued reports on AGTC. BMO Capital Markets decreased their price target on shares of Applied Genetic Technologies Corp from $20.00 to $14.00 and set a buy rating on the stock in a research report on Thursday, February 9th. Zacks Investment Research upgraded shares of Applied Genetic Technologies Corp from a hold rating to a buy rating and set a $8.50 price target on the stock in a research report on Wednesday, March 8th. Wedbush restated an outperform rating and issued a $15.00 price target on shares of Applied Genetic Technologies Corp in a research report on Thursday, February 9th. Stifel Nicolaus decreased their price target on shares of Applied Genetic Technologies Corp from $22.00 to $18.00 and set a buy rating on the stock in a research report on Thursday, February 9th. Finally, Cantor Fitzgerald set a $15.00 price target on shares of Applied Genetic Technologies Corp and gave the stock a hold rating in a research report on Wednesday, February 8th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $14.06.

Applied Genetic Technologies Corp (NASDAQ:AGTC) opened at 7.20 on Wednesday. The company has a market cap of $130.20 million, a PE ratio of 12.52 and a beta of 1.69. The firm has a 50-day moving average of $7.49 and a 200 day moving average of $8.89. Applied Genetic Technologies Corp has a 52-week low of $6.07 and a 52-week high of $19.86.

Applied Genetic Technologies Corp (NASDAQ:AGTC) last posted its quarterly earnings results on Wednesday, February 8th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.09. The company had revenue of $10.90 million for the quarter, compared to analyst estimates of $11.10 million. Applied Genetic Technologies Corp had a net margin of 22.20% and a return on equity of 9.32%. The business’s quarterly revenue was down 10.7% on a year-over-year basis. During the same period last year, the business posted $0.17 EPS. Equities research analysts expect that Applied Genetic Technologies Corp will post $0.36 earnings per share for the current fiscal year.

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Institutional investors have recently made changes to their positions in the stock. Interwest Venture Management Co. acquired a new position in Applied Genetic Technologies Corp during the fourth quarter worth $13,579,000. FMR LLC boosted its position in Applied Genetic Technologies Corp by 2.3% in the fourth quarter. FMR LLC now owns 1,115,494 shares of the company’s stock worth $10,430,000 after buying an additional 24,864 shares during the last quarter. Acadian Asset Management LLC boosted its position in Applied Genetic Technologies Corp by 32.3% in the third quarter. Acadian Asset Management LLC now owns 660,040 shares of the company’s stock worth $6,458,000 after buying an additional 161,215 shares during the last quarter. State Street Corp boosted its position in Applied Genetic Technologies Corp by 1.8% in the fourth quarter. State Street Corp now owns 300,983 shares of the company’s stock worth $2,813,000 after buying an additional 5,452 shares during the last quarter. Finally, Altrinsic Global Advisors LLC boosted its position in Applied Genetic Technologies Corp by 10.1% in the third quarter. Altrinsic Global Advisors LLC now owns 219,000 shares of the company’s stock worth $2,142,000 after buying an additional 20,000 shares during the last quarter. 56.91% of the stock is owned by hedge funds and other institutional investors.

About Applied Genetic Technologies Corp

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).

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