Applied Genetic Technologies Corporation (AGTC) Receives Daily Coverage Optimism Rating of 0.21

Media headlines about Applied Genetic Technologies Corporation (NASDAQ:AGTC) have been trending somewhat positive recently, according to Accern. The research group identifies negative and positive press coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Applied Genetic Technologies Corporation earned a coverage optimism score of 0.21 on Accern’s scale. Accern also gave news headlines about the biotechnology company an impact score of 47.2092508030479 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.

Shares of Applied Genetic Technologies Corporation (AGTC) traded up $0.15 during trading on Friday, reaching $4.00. The company’s stock had a trading volume of 24,160 shares, compared to its average volume of 99,271. Applied Genetic Technologies Corporation has a 12-month low of $3.25 and a 12-month high of $10.15.

Applied Genetic Technologies Corporation (NASDAQ:AGTC) last announced its quarterly earnings data on Wednesday, September 13th. The biotechnology company reported ($0.18) EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.40). The firm had revenue of $8.30 million during the quarter, compared to analyst estimates of $12.39 million. Applied Genetic Technologies Corporation had a negative net margin of 8.78% and a negative return on equity of 2.86%. The company’s revenue was down 31.4% on a year-over-year basis. During the same period last year, the business posted $0.15 EPS. equities research analysts expect that Applied Genetic Technologies Corporation will post -1.14 EPS for the current fiscal year.

A number of brokerages have commented on AGTC. HC Wainwright set a $16.00 price objective on Applied Genetic Technologies Corporation and gave the company a “buy” rating in a research note on Thursday, August 10th. Stifel Nicolaus reduced their price objective on 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. Cantor Fitzgerald reduced their price objective on Applied Genetic Technologies Corporation from $15.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, September 14th. 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, ValuEngine cut Applied Genetic Technologies Corporation from a “hold” rating to a “sell” rating in a research note on Friday, September 15th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $10.17.

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Applied Genetic Technologies Corporation Company Profile

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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