Applied Genetic Technologies Corp (NASDAQ:AGTC) Given Consensus Rating of “Buy” by Analysts

Applied Genetic Technologies Corp (NASDAQ:AGTC) has received a consensus rating of “Buy” from the eight research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $8.79.

Several analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “strong sell” rating in a report on Thursday, May 9th. Wedbush restated an “outperform” rating on shares of Purple Innovation in a report on Wednesday, May 8th. HC Wainwright raised their price objective on shares of Applied Genetic Technologies from $5.75 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. TheStreet upgraded shares of Rent-A-Center from a “c” rating to a “b-” rating in a report on Tuesday, May 7th. Finally, ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd.

Shares of AGTC stock opened at $3.88 on Friday. The firm has a 50-day moving average price of $3.77. The stock has a market capitalization of $70.50 million, a P/E ratio of -3.29 and a beta of 2.58. Applied Genetic Technologies has a one year low of $2.26 and a one year high of $7.50.

Applied Genetic Technologies (NASDAQ:AGTC) last announced its earnings results on Tuesday, May 7th. The biotechnology company reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.54) by $1.17. The company had revenue of $21.32 million during the quarter, compared to the consensus estimate of $0.50 million. Applied Genetic Technologies had a net margin of 4.06% and a return on equity of 2.22%. On average, analysts forecast that Applied Genetic Technologies will post 0.01 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of AGTC. Dimensional Fund Advisors LP increased its holdings in Applied Genetic Technologies by 11.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 911,236 shares of the biotechnology company’s stock worth $2,269,000 after buying an additional 93,652 shares during the last quarter. Two Sigma Investments LP increased its holdings in Applied Genetic Technologies by 64.9% during the fourth quarter. Two Sigma Investments LP now owns 206,522 shares of the biotechnology company’s stock worth $514,000 after buying an additional 81,250 shares during the last quarter. Altrinsic Global Advisors LLC boosted its position in Applied Genetic Technologies by 24.3% during the first quarter. Altrinsic Global Advisors LLC now owns 306,900 shares of the biotechnology company’s stock worth $1,286,000 after purchasing an additional 60,000 shares during the period. Two Sigma Advisers LP boosted its position in Applied Genetic Technologies by 153.8% during the fourth quarter. Two Sigma Advisers LP now owns 80,729 shares of the biotechnology company’s stock worth $201,000 after purchasing an additional 48,922 shares during the period. Finally, Steinberg Global Asset Management boosted its position in Applied Genetic Technologies by 27.6% during the first quarter. Steinberg Global Asset Management now owns 177,154 shares of the biotechnology company’s stock worth $682,000 after purchasing an additional 38,266 shares during the period. Institutional investors and hedge funds own 40.27% of the company’s stock.

About Applied Genetic Technologies

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.

Recommended Story: Green Investing

Analyst Recommendations for Applied Genetic Technologies (NASDAQ:AGTC)

Receive News & Ratings for Applied Genetic Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Genetic Technologies and related companies with MarketBeat.com's FREE daily email newsletter.