HC Wainwright set a $8.00 price target on Applied Genetic Technologies (NASDAQ:AGTC) in a research note released on Monday. The brokerage currently has a buy rating on the biotechnology company’s stock.

Several other equities research analysts have also weighed in on the company. Wells Fargo & Co raised Applied Genetic Technologies from a market perform rating to an outperform rating and cut their target price for the stock from $20.00 to $6.00 in a research report on Monday. Zacks Investment Research lowered Applied Genetic Technologies from a hold rating to a sell rating in a research report on Thursday, September 13th. Chardan Capital lowered Applied Genetic Technologies from a buy rating to a neutral rating and cut their target price for the stock from $10.00 to $5.00 in a research report on Tuesday, September 11th. Finally, ValuEngine raised Applied Genetic Technologies from a sell rating to a hold rating in a research report on Friday, June 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $6.88.

AGTC stock opened at $5.00 on Monday. Applied Genetic Technologies has a 1 year low of $3.25 and a 1 year high of $5.75.

Applied Genetic Technologies (NASDAQ:AGTC) last issued its earnings results on Monday, September 10th. The biotechnology company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.20). Applied Genetic Technologies had a negative return on equity of 19.77% and a negative net margin of 88.06%. The business had revenue of $5.42 million for the quarter, compared to analyst estimates of $6.87 million. analysts anticipate that Applied Genetic Technologies will post -1.58 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in shares of Applied Genetic Technologies by 15.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 731,898 shares of the biotechnology company’s stock worth $2,708,000 after acquiring an additional 99,358 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Applied Genetic Technologies during the 2nd quarter worth about $2,538,000. Renaissance Technologies LLC raised its position in shares of Applied Genetic Technologies by 28.5% during the 2nd quarter. Renaissance Technologies LLC now owns 634,500 shares of the biotechnology company’s stock worth $2,348,000 after acquiring an additional 140,700 shares in the last quarter. Altrinsic Global Advisors LLC grew its stake in Applied Genetic Technologies by 7.8% during the 1st quarter. Altrinsic Global Advisors LLC now owns 246,900 shares of the biotechnology company’s stock worth $951,000 after buying an additional 17,900 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its stake in Applied Genetic Technologies by 18.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 214,000 shares of the biotechnology company’s stock worth $792,000 after buying an additional 34,000 shares during the last quarter. 48.47% of the stock is currently owned by institutional investors and hedge funds.

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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