H.C. Wainwright analyst Joseph Pantginis maintained a Buy rating on Applied Genetic Technologies (AGTC) today and set a price target of $5.75. The company’s shares closed yesterday at $3.14.
Pantginis observed:
“Valuation and risks to price target achievement. We maintain our Buy rating and $5.75 price target. Our valuation is based on our clinical net present value (NPV) model, which allows us to flex multiple assumptions affecting a drug’s potential commercial profile. Currently the ACHM programs contribute 55% to our valuation, with the remaining 45% coming from XLRP. Factors which could impede reaching our price target include failed or inconclusive clinical trials or inability of the company to secure adequate funding to progress its drugs through the development pathway.”
According to TipRanks.com, Pantginis is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -20.7% and a 24.9% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Iovance Biotherapeutics Inc, Checkpoint Therapeutics Inc, and Strata Skin Sciences Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Applied Genetic Technologies with a $5.25 average price target.
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Based on Applied Genetic Technologies’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $4.18 million. In comparison, last year the company had a GAAP net loss of $5.19 million.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AGTC in relation to earlier this year.
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Applied Genetic Technologies Corp. engages in the development of gene therapy platform to develop transformational genetic therapies for patients suffering from rare and debilitating diseases. It has clinical trials in the field of ophthalmology, optogenetics, adrenoleukodystrophy, and otology.
