Chardan Capital Reaffirms “Buy” Rating for Applied Genetic Technologies (NASDAQ:AGTC)

Applied Genetic Technologies (NASDAQ:AGTCGet Rating)‘s stock had its “buy” rating reaffirmed by equities research analysts at Chardan Capital in a research note issued on Monday, Zacks.com reports.

Several other equities analysts have also recently weighed in on the company. Roth Capital reissued a “buy” rating on shares of Applied Genetic Technologies in a research report on Tuesday, February 8th. Stifel Nicolaus lowered their price objective on Applied Genetic Technologies to $10.00 and set a “buy” rating on the stock in a research note on Monday, February 14th. Finally, StockNews.com initiated coverage on Applied Genetic Technologies in a research report on Thursday, March 31st. They set a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $15.00.

Shares of Applied Genetic Technologies stock opened at $0.98 on Monday. Applied Genetic Technologies has a 1-year low of $0.96 and a 1-year high of $4.65. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.13 and a quick ratio of 3.13. The business’s fifty day moving average price is $1.72 and its two-hundred day moving average price is $2.07. The company has a market capitalization of $42.08 million, a P/E ratio of -0.64 and a beta of 1.67.

Applied Genetic Technologies (NASDAQ:AGTCGet Rating) last issued its earnings results on Monday, February 14th. The biotechnology company reported ($0.45) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.38) by ($0.07). During the same period last year, the business posted ($0.60) earnings per share. On average, research analysts expect that Applied Genetic Technologies will post -1.66 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA grew its stake in shares of Applied Genetic Technologies by 3,528.3% during the fourth quarter. BNP Paribas Arbitrage SA now owns 17,851 shares of the biotechnology company’s stock worth $34,000 after buying an additional 17,359 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Applied Genetic Technologies during the fourth quarter valued at about $53,000. Marshall Wace LLP acquired a new position in shares of Applied Genetic Technologies during the third quarter valued at about $61,000. Royal Bank of Canada raised its holdings in shares of Applied Genetic Technologies by 321.7% in the 2nd quarter. Royal Bank of Canada now owns 16,172 shares of the biotechnology company’s stock worth $63,000 after acquiring an additional 12,337 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Applied Genetic Technologies by 19.5% in the 4th quarter. Bank of America Corp DE now owns 33,456 shares of the biotechnology company’s stock worth $64,000 after acquiring an additional 5,454 shares during the last quarter. Institutional investors own 35.02% of the company’s stock.

About Applied Genetic Technologies (Get Rating)

Applied Genetic Technologies Corporation, a clinical-stage biotechnology company, develops transformational genetic therapies for patients suffering from rare and debilitating diseases. Its advanced product candidates include three ophthalmology development programs across two targets, including X-linked retinitis pigmentosa, which is in the Phase I/II clinical trials; and achromatopsia that is in Phase I/II clinical trials.

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Analyst Recommendations for Applied Genetic Technologies (NASDAQ:AGTC)

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