Applied Genetic Technologies Corp (AGTC) is Reiterated by Wedbush to Outperform, Lowers Price Target to $ 20

Applied Genetic Technologies Corp (AGTC) was Reiterated by Wedbush to “Outperform” while Lowering the Price Target of the company shares to $ 20 from a previous price target of $36 . Wedbush advised their investors in a research report released on Sep 13, 2016.

On the company’s financial health, Applied Genetic Technologies Corp reported $0.15 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Sep 12, 2016. Analyst had a consensus of $0.08. The company had revenue of $12.10 million for the quarter, compared to analysts expectations of $13.09 million. The company’s revenue was up 1604.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.48 EPS.

Applied Genetic Technologies Corp opened for trading at $12.69 and hit $13.33 on the upside on Monday, eventually ending the session at $13.19, with a gain of 6.63% or 0.82 points. The heightened volatility saw the trading volume jump to 172,813 shares. Company has a market cap of $238 M.

In a different news, on Jan 26, 2015, Daniel L Menichella (V.P. & Chief Business Officer) sold 1,996 shares at $24.90 per share price.

Applied Genetic Technologies Corp is a United States-based clinical stage biotechnology company. The Company develops gene therapy products for the treatment of inherited and acquired diseases. Its products are used to treat Alpha One Antitrypsin Deficiency (Alpha-1) a respiratory disease caused by deficiencies in the tissue protective protein alpha one antitrypsin; and Lebers congenital amaurosis an inherited condition causing early blindness. Its products also used to treat X-linked retinoschisis an inherited form of retinal degeneration affecting young males with poor vision either in infancy or at school age; and achromatopsia an inherited condition that is associated with color blindness visual acuity loss and extreme light sensitivity resulting in daytime blindness.

Applied Genetic Technologies Corp

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