$0.11 EPS Expected for Applied Genetic Technologies Corporation (NASDAQ:AGTC) This Quarter

Wall Street analysts predict that Applied Genetic Technologies Corporation (NASDAQ:AGTC) will announce $0.11 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Applied Genetic Technologies Corporation’s earnings, with estimates ranging from ($0.09) to $0.65. Applied Genetic Technologies Corporation posted earnings of $0.15 per share during the same quarter last year, which would suggest a negative year over year growth rate of 26.7%. The company is expected to announce its next earnings report on Monday, September 11th.

According to Zacks, analysts expect that Applied Genetic Technologies Corporation will report full year earnings of $0.32 per share for the current fiscal year, with EPS estimates ranging from $0.06 to $0.89. For the next financial year, analysts anticipate that the business will post earnings of ($0.22) per share, with EPS estimates ranging from ($1.11) to $0.52. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for Applied Genetic Technologies Corporation.

Applied Genetic Technologies Corporation (NASDAQ:AGTC) last announced its quarterly earnings data on Wednesday, May 10th. The biotechnology company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.01) by $0.04. Applied Genetic Technologies Corporation had a net margin of 17.61% and a return on equity of 6.62%. The firm had revenue of $8.39 million for the quarter, compared to the consensus estimate of $10.39 million. During the same period last year, the company posted $0.11 earnings per share. Applied Genetic Technologies Corporation’s revenue for the quarter was down 30.1% on a year-over-year basis.

Several research analysts recently weighed in on AGTC shares. Zacks Investment Research downgraded shares of Applied Genetic Technologies Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. HC Wainwright set a $16.00 price objective on shares of Applied Genetic Technologies Corporation and gave the company a “buy” rating in a report on Saturday, June 10th. ValuEngine downgraded shares of Applied Genetic Technologies Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Cantor Fitzgerald set a $15.00 price objective on shares of Applied Genetic Technologies Corporation and gave the company a “hold” rating in a report on Wednesday, May 10th. Finally, Stifel Nicolaus decreased their target price on shares of Applied Genetic Technologies Corporation from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, May 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $13.81.

Several hedge funds have recently made changes to their positions in AGTC. Russell Investments Group Ltd. acquired a new position in Applied Genetic Technologies Corporation during the fourth quarter worth $747,000. State Street Corp raised its position in Applied Genetic Technologies Corporation by 1.8% in the fourth quarter. State Street Corp now owns 300,983 shares of the biotechnology company’s stock valued at $2,813,000 after buying an additional 5,452 shares during the last quarter. FMR LLC raised its position in Applied Genetic Technologies Corporation by 2.3% in the fourth quarter. FMR LLC now owns 1,115,494 shares of the biotechnology company’s stock valued at $10,430,000 after buying an additional 24,864 shares during the last quarter. A.R.T. Advisors LLC purchased a new position in Applied Genetic Technologies Corporation during the fourth quarter valued at $110,000. Finally, Tudor Investment Corp Et Al raised its position in Applied Genetic Technologies Corporation by 20.6% in the fourth quarter. Tudor Investment Corp Et Al now owns 14,534 shares of the biotechnology company’s stock valued at $136,000 after buying an additional 2,480 shares during the last quarter. Institutional investors and hedge funds own 61.55% of the company’s stock.

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Applied Genetic Technologies Corporation (NASDAQ AGTC) traded up 5.26% during trading on Friday, hitting $5.00. The stock had a trading volume of 80,779 shares. The company has a market cap of $90.38 million, a price-to-earnings ratio of 11.93 and a beta of 1.71. Applied Genetic Technologies Corporation has a 52-week low of $4.60 and a 52-week high of $17.00. The company has a 50-day moving average price of $5.08 and a 200-day moving average price of $6.54.

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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