Applied Genetic Technologies Co. (NASDAQ:AGTC) Given Average Recommendation of “Buy” by Brokerages

Applied Genetic Technologies Co. (NASDAQ:AGTCGet Rating) has received an average recommendation of “Buy” from the eight ratings firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $15.00.

A number of brokerages have recently commented on AGTC. Stifel Nicolaus reduced their target price on shares of Applied Genetic Technologies to $10.00 and set a “buy” rating on the stock in a research report on Monday, February 14th. Roth Capital reaffirmed a “buy” rating on shares of Applied Genetic Technologies in a research report on Tuesday, February 8th. Chardan Capital reaffirmed a “buy” rating on shares of Applied Genetic Technologies in a research report on Monday. Finally, StockNews.com began coverage on shares of Applied Genetic Technologies in a research report on Thursday, March 31st. They set a “sell” rating on the stock.

Applied Genetic Technologies stock opened at $1.10 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.13 and a quick ratio of 3.13. Applied Genetic Technologies has a 1-year low of $0.96 and a 1-year high of $4.65. The firm has a market capitalization of $47.21 million, a P/E ratio of -0.72 and a beta of 1.67. The company’s 50-day moving average is $1.68 and its 200 day moving average is $2.06.

Applied Genetic Technologies (NASDAQ:AGTCGet Rating) last issued its earnings results on Monday, February 14th. The biotechnology company reported ($0.45) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.38) by ($0.07). During the same period last year, the firm earned ($0.60) EPS. Research analysts anticipate that Applied Genetic Technologies will post -1.65 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of the stock. Millennium Management LLC increased its holdings in Applied Genetic Technologies by 26.0% during the fourth quarter. Millennium Management LLC now owns 1,533,193 shares of the biotechnology company’s stock valued at $2,913,000 after buying an additional 316,276 shares during the period. BlackRock Inc. increased its holdings in Applied Genetic Technologies by 6.4% during the fourth quarter. BlackRock Inc. now owns 1,105,950 shares of the biotechnology company’s stock valued at $2,101,000 after buying an additional 66,771 shares during the period. Geode Capital Management LLC boosted its stake in Applied Genetic Technologies by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 630,006 shares of the biotechnology company’s stock valued at $1,197,000 after acquiring an additional 31,847 shares in the last quarter. GSA Capital Partners LLP boosted its stake in Applied Genetic Technologies by 366.5% in the third quarter. GSA Capital Partners LLP now owns 583,510 shares of the biotechnology company’s stock valued at $1,756,000 after acquiring an additional 458,420 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its stake in Applied Genetic Technologies by 152.4% in the third quarter. Two Sigma Advisers LP now owns 327,129 shares of the biotechnology company’s stock valued at $985,000 after acquiring an additional 197,500 shares in the last quarter. 35.02% of the stock is currently owned by institutional investors.

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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