Applied Genetic Technologies (NASDAQ:AGTC) Earns Buy Rating from HC Wainwright

Share on StockTwits

Applied Genetic Technologies (NASDAQ:AGTC)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research note issued to investors on Monday, Zacks.com reports. They presently have a $18.00 price target on the biotechnology company’s stock, up from their previous price target of $12.00. HC Wainwright’s price target would suggest a potential upside of 350.00% from the stock’s current price. The analysts noted that the move was a valuation call.

Other analysts also recently issued reports about the stock. Chardan Capital upgraded shares of Applied Genetic Technologies from a “neutral” rating to a “buy” rating and set a $7.50 price objective on the stock in a report on Tuesday, September 3rd. ValuEngine upgraded shares of Applied Genetic Technologies from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Janney Montgomery Scott initiated coverage on shares of Applied Genetic Technologies in a report on Friday, September 6th. They issued a “buy” rating and a $13.00 price objective on the stock. Finally, Zacks Investment Research downgraded shares of Applied Genetic Technologies from a “buy” rating to a “hold” rating in a report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $10.61.

Shares of AGTC opened at $4.00 on Monday. Applied Genetic Technologies has a twelve month low of $2.26 and a twelve month high of $7.50. The firm’s 50 day moving average price is $3.41 and its two-hundred day moving average price is $3.89. The firm has a market cap of $68.14 million, a P/E ratio of -3.39 and a beta of 2.55.

Applied Genetic Technologies (NASDAQ:AGTC) last announced its quarterly earnings results on Thursday, September 26th. The biotechnology company reported ($0.58) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.54) by ($0.04). Applied Genetic Technologies had a net margin of 4.06% and a return on equity of 2.22%. As a group, research analysts forecast that Applied Genetic Technologies will post -0.07 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. D. E. Shaw & Co. Inc. raised its holdings in shares of Applied Genetic Technologies by 21.7% in the second quarter. D. E. Shaw & Co. Inc. now owns 57,902 shares of the biotechnology company’s stock valued at $219,000 after purchasing an additional 10,329 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Applied Genetic Technologies by 359.4% in the second quarter. JPMorgan Chase & Co. now owns 14,700 shares of the biotechnology company’s stock valued at $55,000 after purchasing an additional 11,500 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Applied Genetic Technologies by 28.8% in the second quarter. Jacobs Levy Equity Management Inc. now owns 81,624 shares of the biotechnology company’s stock valued at $309,000 after purchasing an additional 18,265 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Applied Genetic Technologies by 72.8% in the second quarter. Wells Fargo & Company MN now owns 47,676 shares of the biotechnology company’s stock valued at $181,000 after purchasing an additional 20,082 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Applied Genetic Technologies by 3.5% in the first quarter. Acadian Asset Management LLC now owns 698,053 shares of the biotechnology company’s stock valued at $2,927,000 after purchasing an additional 23,299 shares during the last quarter. Institutional investors own 37.42% of the company’s stock.

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.

Recommended Story: Asset Allocation and Your Retirement

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.



Latest News

Harte Hanks  Announces  Earnings Results, Misses Estimates By $0.64 EPS
Harte Hanks Announces Earnings Results, Misses Estimates By $0.64 EPS
HYPNOXYS  Tops 1-Day Trading Volume of $1.00
HYPNOXYS Tops 1-Day Trading Volume of $1.00
Insider Selling: Blackstone Group LP  Vice Chairman Sells 108,103 Shares of Stock
Insider Selling: Blackstone Group LP Vice Chairman Sells 108,103 Shares of Stock
Sumitomo Mitsui Trust Holdings Inc. Invests $1.03 Million in Post Holdings Inc
Sumitomo Mitsui Trust Holdings Inc. Invests $1.03 Million in Post Holdings Inc
Sumitomo Mitsui Trust Holdings Inc. Acquires 11,273 Shares of Chatham Lodging Trust
Sumitomo Mitsui Trust Holdings Inc. Acquires 11,273 Shares of Chatham Lodging Trust
State of Tennessee Treasury Department Purchases 1,905 Shares of Regenxbio Inc
State of Tennessee Treasury Department Purchases 1,905 Shares of Regenxbio Inc


 
© 2006-2019 Zolmax.