New Rating issued on Applied Genetic Technologies Corp (AGTC): Initiated by Rodman & Renshaw to “Buy”

Applied Genetic Technologies Corp (AGTC) was Initiated by Rodman & Renshaw to “Buy” and the brokerage firm has set the Price Target at $16. Rodman & Renshaw advised their Clients and Investors in a research report released on Mar 15, 2017.

Based on several research reports , Rodman & Renshaw Initiated Applied Genetic Technologies Corp on Mar 15, 2017 to “Buy”, Price Target of the shares are set at $16.

Several company insiders have filed Insider transactions , on Nov 17, 2016, Ivana Magovcevic (director) purchased 3,000 shares at $9.62 per share price. According to the SEC, on Nov 2, 2016, Jeffrey D. Chulay (VP and Chief Medical Officer) sold 1,000 shares at $7.05 per share price. On Sep 27, 2016, Stephen W Potter (officer ) purchased 1,400 shares at $8.83 per share price, according to the Form-4 filing with the securities and exchange commission.

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 $7.8 and hit $7.828 on the upside on Wednesday, eventually ending the session at $7.65, with a gain of 2.00% or 0.15 points. The heightened volatility saw the trading volume jump to 1,76,155 shares. Company has a market cap of $138 M.

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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