-$0.09 Earnings Per Share Expected for Applied Genetic Technologies Corporation (AGTC) This Quarter

Equities analysts expect Applied Genetic Technologies Corporation (NASDAQ:AGTC) to announce earnings per share (EPS) of ($0.09) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Applied Genetic Technologies Corporation’s earnings, with the highest EPS estimate coming in at ($0.01) and the lowest estimate coming in at ($0.13). Applied Genetic Technologies Corporation posted earnings per share of $0.11 in the same quarter last year, which suggests a negative year over year growth rate of 181.8%. The firm is expected to issue its next earnings report on Wednesday, February 14th.

According to Zacks, analysts expect that Applied Genetic Technologies Corporation will report full-year earnings of ($0.81) per share for the current fiscal year, with EPS estimates ranging from ($1.18) to ($0.45). For the next year, analysts expect that the business will report earnings of ($1.62) per share, with EPS estimates ranging from ($2.17) to ($0.78). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Applied Genetic Technologies Corporation.

Applied Genetic Technologies Corporation (NASDAQ:AGTC) last issued its quarterly earnings results on Wednesday, September 13th. The biotechnology company reported ($0.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.40). Applied Genetic Technologies Corporation had a negative return on equity of 2.86% and a negative net margin of 8.78%. The firm had revenue of $8.30 million for the quarter, compared to the consensus estimate of $12.39 million. During the same period last year, the company posted $0.15 EPS. The business’s revenue was down 31.4% on a year-over-year basis.

Several brokerages recently commented on AGTC. HC Wainwright set a $16.00 price objective on shares of Applied Genetic Technologies Corporation and gave the company a “buy” rating in a research note on Thursday, August 10th. Stifel Nicolaus dropped their price objective on shares of Applied Genetic Technologies Corporation from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, September 14th. ValuEngine downgraded shares of Applied Genetic Technologies Corporation from a “hold” rating to a “sell” rating in a research note on Friday, September 15th. BMO Capital Markets reissued an “outperform” rating and issued a $7.00 price objective (down previously from $14.00) on shares of Applied Genetic Technologies Corporation in a research note on Thursday, September 14th. Finally, Wedbush reissued an “outperform” rating and issued a $9.00 price objective on shares of Applied Genetic Technologies Corporation in a research note on Wednesday, November 8th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. Applied Genetic Technologies Corporation has a consensus rating of “Hold” and a consensus target price of $10.17.

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Shares of Applied Genetic Technologies Corporation (NASDAQ AGTC) opened at $3.75 on Tuesday. Applied Genetic Technologies Corporation has a twelve month low of $3.25 and a twelve month high of $10.85.

A number of large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its stake in Applied Genetic Technologies Corporation by 48.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 394,490 shares of the biotechnology company’s stock valued at $1,558,000 after purchasing an additional 128,049 shares during the last quarter. Citadel Advisors LLC raised its stake in shares of Applied Genetic Technologies Corporation by 304.6% during the third quarter. Citadel Advisors LLC now owns 41,270 shares of the biotechnology company’s stock valued at $163,000 after acquiring an additional 31,070 shares during the last quarter. ClariVest Asset Management LLC raised its stake in shares of Applied Genetic Technologies Corporation by 18.5% during the third quarter. ClariVest Asset Management LLC now owns 99,013 shares of the biotechnology company’s stock valued at $391,000 after acquiring an additional 15,491 shares during the last quarter. Nine Chapters Capital Management LLC bought a new position in shares of Applied Genetic Technologies Corporation during the third quarter valued at $113,000. Finally, DAFNA Capital Management LLC raised its stake in shares of Applied Genetic Technologies Corporation by 2.4% during the second quarter. DAFNA Capital Management LLC now owns 421,000 shares of the biotechnology company’s stock valued at $2,147,000 after acquiring an additional 10,000 shares during the last quarter. 54.86% of the stock is owned by institutional investors and hedge funds.

About Applied Genetic Technologies Corporation

Applied Genetic Technologies Corporation is a clinical-stage biotechnology company. The Company develops gene therapy products designed to manage the lives of patients with severe diseases in ophthalmology. As of March 31, 2016, its product candidates included treatments for X-linked retinoschisis (XLRS), over two forms of achromatopsia (ACHM) and X-linked retinitis pigmentosa (XLRP).

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Earnings History and Estimates for Applied Genetic Technologies Corporation (NASDAQ:AGTC)

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