Applied Genetic Technologies (NASDAQ:AGTC) was downgraded by analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research report issued on Wednesday.

AGTC has been the subject of several other reports. Zacks Investment Research downgraded Applied Genetic Technologies from a “buy” rating to a “hold” rating in a research note on Monday, November 26th. TheStreet raised Applied Genetic Technologies from a “d+” rating to a “c” rating in a research note on Friday, November 9th. HC Wainwright set a $8.00 price objective on Applied Genetic Technologies and gave the company a “buy” rating in a research note on Thursday, November 8th. Chardan Capital downgraded Applied Genetic Technologies from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $10.00 to $5.00 in a research note on Tuesday, September 11th. Finally, Wells Fargo & Co raised Applied Genetic Technologies from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $20.00 to $6.00 in a research note on Monday, September 24th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $7.20.

Shares of AGTC stock opened at $6.31 on Wednesday. The company has a market cap of $111.32 million, a PE ratio of -5.35 and a beta of 2.03. Applied Genetic Technologies has a 1-year low of $3.45 and a 1-year high of $7.50.

Applied Genetic Technologies (NASDAQ:AGTC) last announced its earnings results on Thursday, November 8th. The biotechnology company reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.50) by $0.57. The business had revenue of $14.03 million during the quarter, compared to the consensus estimate of $2.90 million. Applied Genetic Technologies had a negative return on equity of 18.97% and a negative net margin of 67.02%. Research analysts anticipate that Applied Genetic Technologies will post -1.25 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of AGTC. Point72 Asset Management L.P. grew its holdings in Applied Genetic Technologies by 18.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 214,000 shares of the biotechnology company’s stock valued at $792,000 after buying an additional 34,000 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Applied Genetic Technologies by 9,001.3% in the 3rd quarter. Wells Fargo & Company MN now owns 215,610 shares of the biotechnology company’s stock valued at $1,574,000 after buying an additional 213,241 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Applied Genetic Technologies by 28.5% in the 2nd quarter. Renaissance Technologies LLC now owns 634,500 shares of the biotechnology company’s stock valued at $2,348,000 after buying an additional 140,700 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Applied Genetic Technologies by 15.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 731,898 shares of the biotechnology company’s stock valued at $2,708,000 after buying an additional 99,358 shares in the last quarter. 45.76% of the stock is owned by hedge funds and other institutional investors.

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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