Rodman & Renshaw Initiates Coverage On Applied Genetic Technologies Corp to Buy with Price Target $16

Rodman & Renshaw Initiates Coverage On Applied Genetic Technologies Corp(AGTC). In a research note issued to the investors, the brokerage major Announces the price-target to $16 per share. The shares have been rated Buy. The rating by the stock financial advisor at Rodman & Renshaw was issued on Mar 15, 2017 in a research report to their Investors and Clients.

Applied Genetic Technologies Corp (AGTC) shares turned negative on Fridays trading session with the shares closing down -0.35 points or -4.55% at a volume of 1,80,809. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $7.8. The peak price level was also seen at $7.8 while the days lowest was $7.275. Finally the shares closed at $7.35. The 52-week high of the shares is $19.86 while the 52-week low is $6.075. According to the latest information available, the market cap of the company is $133 M.

Applied Genetic Technologies Corp(AGTC) last announced its earnings results on Feb 8, 2017 for Fiscal Year 2017 and Q2.Company reported revenue of $10.933M. Analysts had an estimated revenue of $11.100M. Earnings per share were $0.11. Analysts had estimated an EPS of $0.02.

Several Insider Transactions has been reported to the SEC. On Nov 17, 2016, Ivana Magovcevic (director) purchased 3,000 shares at $9.62 per share price.Also, 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.

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.

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