In a report released today, Joseph Pantginis from H.C. Wainwright maintained a Buy rating on Applied Genetic Technologies (AGTC), with a price target of $8. The company’s shares opened today at $7.10, close to its 52-week high of $7.50.
“Valuation and risks to price target achievement. We maintain our Buy rating and $8 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. 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. Applied Genetic Technologies Corp.”
According to TipRanks.com, Pantginis has 0 stars on 0-5 star ranking scale with an average return of -15.5% and a 28.1% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Checkpoint Therapeutics Inc, Strata Skin Sciences Inc, and Mateon Therapeutics Inc.
Applied Genetic Technologies has an analyst consensus of Strong Buy, with a price target consensus of $8.33.
The company has a one-year high of $7.50 and a one-year low of $3.45. Currently, Applied Genetic Technologies has an average volume of 161.4K.
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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.