Cantor Fitzgerald Reiterates Buy on Applied Genetic Technologies (AGTC) Following Recent Positive Gene Therapy News

Cantor Fitzgerald reiterated a Buy rating and $32.00 price target on Applied Genetic Technologies Corp. (NASDAQ: AGTC) following recent positive news in the gene therapy/ophthalmology sector. AGTC's programs are advancing, value has been created with a multi-million dollar deal with Biogen and news flow is expected in the relative near term.

Analyst Mara Goldstein commented, "Recent positive news in the gene therapy/ ophthalmology sector could boost AGTC shares and help to dissipate an overhang from prior sector (not AGTC) clinical disappointments, in our view. The shares have pulled back YTD on clinical news of companies in both ophthalmology and gene therapy, and have also been hurt by the broader biotech sell-off. However, AGTC's programs are advancing, value has been created with a multi-million dollar deal with Biogen and news flow is expected in the relative near term. We think that positive news in the gene therapy/ophthalmology sector may provide visibility for valuation expansion. We continue to like the shares and maintain a $32 PT."

For an analyst ratings summary and ratings history on Applied Genetic Technologies Corp. click here. For more ratings news on Applied Genetic Technologies Corp. click here.

Shares of Applied Genetic Technologies Corp. closed at $13.04 yesterday.

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