Applied Genetic Technologies (NASDAQ: AGTC – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports. The brokerage presently has a $ 1.00 price target on the biotechnology company stock. Zacks Investment Research’s price target would suggest a potential upside of 19.08% from the company previous close.
According to Zacks, “Applied Genetic Technologies Corporation is a clinical-stage biotechnology company. It develops gene therapy products for inherited orphan ophthalmology diseases. Its lead product candidates in the preclinical stage include treatments for X-linked retinoschisis, Achromatopsia, and X-linked retinitis pigmentosa, which are diseases of the eye caused by mutations in single genes. Applied Genetic Technologies Corporation is headquartered in Alachua, Florida. “
A number of other analysts also recently weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Applied Genetic Technologies in a report on Tuesday, May 17th. Chardan Capital reiterated a “buy” rating on shares of Applied Genetic Technologies in a report on Monday, April 11th. StockNews.com started coverage on Applied Genetic Technologies in a research note on Thursday, March 31st. They issued a “sell” rating for the company. Roth Capital restated a “buy” rating on shares of Applied Genetic Technologies in a research note on Tuesday, February 8th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $ 10.00 target price on shares of Applied Genetic Technologies in a research note on Thursday, April 14th. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $ 11.50.
Shares of AGTC traded down $ 0.02 during trading hours on Tuesday, reaching $ 0.84. The stock had a trading volume of 195,031 shares, compared to its average volume of 571,224. Applied Genetic Technologies has a 12 month low of $ 0.58 and a 12 month high of $ 4.65. The stock has a market capitalization of $ 42.60 million, a PE ratio of -0.58 and a beta of 1.65. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.13 and a current ratio of 2.73. The company 50-day moving average is $ 1.07 and its two-hundred day moving average is $ 1.70.
Several institutional investors have recently bought and sold shares of the business. Cantor Fitzgerald LP bought a new position in shares of Applied Genetic Technologies during the 1st quarter worth approximately $ 2,524,000. Vanguard Group Inc. increased its stake in shares of Applied Genetic Technologies by 14.4% during the 1st quarter. Vanguard Group Inc. now owns 1,981,565 shares of the biotechnology company stock worth $ 2,120,000 after purchasing an additional 248,819 shares during the last quarter. Portolan Capital Management LLC increased its stake in shares of Applied Genetic Technologies by 18.0% during the 1st quarter. Portolan Capital Management LLC now owns 1,605,599 shares of the biotechnology company stock worth $ 1,718,000 after purchasing an additional 244,895 shares during the last quarter. Millennium Management LLC increased its stake in shares of Applied Genetic Technologies by 26.0% during the 4th quarter. Millennium Management LLC now owns 1,533,193 shares of the biotechnology company stock worth $ 2,913,000 after purchasing an additional 316,276 shares during the last quarter. Finally, BlackRock Inc. increased its stake in shares of Applied Genetic Technologies by 6.4% during the 4th quarter. BlackRock Inc. now owns 1,105,950 shares of the biotechnology company stock worth $ 2,101,000 after purchasing an additional 66,771 shares during the last quarter. 38.03% of the stock is currently owned by hedge funds and other 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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