Wall Street brokerages expect Applied Genetic Technologies Corp (NASDAQ:AGTC) to report $6.87 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Applied Genetic Technologies’ earnings. The lowest sales estimate is $2.05 million and the highest is $11.69 million. Applied Genetic Technologies reported sales of $8.35 million during the same quarter last year, which indicates a negative year over year growth rate of 17.7%. The business is expected to announce its next earnings report after the market closes on Monday, September 10th.

According to Zacks, analysts expect that Applied Genetic Technologies will report full year sales of $26.11 million for the current fiscal year, with estimates ranging from $20.82 million to $30.50 million. For the next fiscal year, analysts forecast that the business will report sales of $28.91 million per share, with estimates ranging from $13.84 million to $40.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Applied Genetic Technologies.

AGTC has been the subject of a number of analyst reports. Zacks Investment Research raised Applied Genetic Technologies from a “hold” rating to a “buy” rating and set a $4.25 price target for the company in a report on Wednesday, July 4th. ValuEngine raised Applied Genetic Technologies from a “sell” rating to a “hold” rating in a report on Friday, June 1st. Finally, HC Wainwright set a $8.00 price target on Applied Genetic Technologies and gave the stock a “buy” rating in a report on Monday, August 20th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $8.21.

Shares of NASDAQ AGTC traded down $0.17 during trading on Wednesday, reaching $4.30. The company had a trading volume of 45,800 shares, compared to its average volume of 94,753. Applied Genetic Technologies has a twelve month low of $3.25 and a twelve month high of $5.75. The stock has a market cap of $81.04 million, a price-to-earnings ratio of 215.00 and a beta of 2.13.

A number of institutional investors have recently added to or reduced their stakes in AGTC. Matarin Capital Management LLC acquired a new position in Applied Genetic Technologies in the first quarter valued at $126,000. Marquette Asset Management LLC acquired a new position in Applied Genetic Technologies in the second quarter valued at $129,000. Ancora Advisors LLC increased its stake in Applied Genetic Technologies by 270.8% in the first quarter. Ancora Advisors LLC now owns 74,154 shares of the biotechnology company’s stock valued at $285,000 after purchasing an additional 54,154 shares during the last quarter. Alambic Investment Management L.P. increased its stake in Applied Genetic Technologies by 16.8% in the first quarter. Alambic Investment Management L.P. now owns 111,082 shares of the biotechnology company’s stock valued at $428,000 after purchasing an additional 15,938 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Applied Genetic Technologies in the first quarter valued at $693,000. Hedge funds and other institutional investors own 48.50% 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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Earnings History and Estimates for Applied Genetic Technologies (NASDAQ:AGTC)

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