Analysts forecast that Applied Genetic Technologies Corporation (NASDAQ:AGTC) will report $13.43 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Applied Genetic Technologies Corporation’s earnings. The highest sales estimate is $23.49 million and the lowest is $7.81 million. Applied Genetic Technologies Corporation reported sales of $12.11 million during the same quarter last year, which indicates a positive year over year growth rate of 10.9%. The company is expected to issue its next quarterly earnings results on Monday, September 11th.

According to Zacks, analysts expect that Applied Genetic Technologies Corporation will report full-year sales of $13.43 million for the current fiscal year, with estimates ranging from $38.90 million to $54.61 million. For the next year, analysts expect that the business will report sales of $39.91 million per share, with estimates ranging from $26.00 million to $54.00 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Applied Genetic Technologies Corporation.

Several analysts recently issued reports on AGTC shares. Stifel Nicolaus cut their target price on Applied Genetic Technologies Corporation from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, May 11th. Cantor Fitzgerald set a $15.00 target price on Applied Genetic Technologies Corporation and gave the stock a “hold” rating in a research note on Wednesday, May 10th. Zacks Investment Research cut Applied Genetic Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, May 11th. ValuEngine cut Applied Genetic Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, HC Wainwright set a $16.00 target price on Applied Genetic Technologies Corporation and gave the stock a “buy” rating in a research note on Saturday, June 10th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $13.81.

A number of hedge funds have recently modified their holdings of AGTC. InterWest Venture Management Co raised its stake in shares of Applied Genetic Technologies Corporation by 0.3% in the second quarter. InterWest Venture Management Co now owns 1,455,904 shares of the biotechnology company’s stock valued at $7,425,000 after buying an additional 3,688 shares during the period. Numeric Investors LLC raised its stake in shares of Applied Genetic Technologies Corporation by 23.6% in the second quarter. Numeric Investors LLC now owns 780,088 shares of the biotechnology company’s stock valued at $3,978,000 after buying an additional 148,799 shares during the period. DAFNA Capital Management LLC raised its stake in shares of Applied Genetic Technologies Corporation by 2.4% in the second quarter. DAFNA Capital Management LLC now owns 421,000 shares of the biotechnology company’s stock valued at $2,147,000 after buying an additional 10,000 shares during the period. State Street Corp raised its stake in shares of Applied Genetic Technologies Corporation by 1.8% in the fourth quarter. State Street Corp now owns 300,983 shares of the biotechnology company’s stock valued at $2,813,000 after buying an additional 5,452 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Applied Genetic Technologies Corporation by 66.6% in the second quarter. Dimensional Fund Advisors LP now owns 266,441 shares of the biotechnology company’s stock valued at $1,359,000 after buying an additional 106,558 shares during the period. Institutional investors and hedge funds own 54.75% of the company’s stock.

Applied Genetic Technologies Corporation (AGTC) opened at 4.55 on Thursday. The firm has a 50-day moving average price of $4.85 and a 200 day moving average price of $5.88. Applied Genetic Technologies Corporation has a 1-year low of $4.50 and a 1-year high of $13.62. The firm has a market cap of $82.25 million, a price-to-earnings ratio of 10.86 and a beta of 1.68.

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About Applied Genetic Technologies Corporation

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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Earnings History and Estimates for Applied Genetic Technologies Corporation (NASDAQ:AGTC)

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