Stifel Reiterates Buy Rating on Applied Genetic Technologies Corp. (AGTC)

Stifel analyst Dae Gon Ha reiterated a Buy rating on Applied Genetic Technologies Corp. (NASDAQ: AGTC) in light of the upcoming catalysts.

The analyst quotes: "We are reiterating our Buy rating on AGTC ahead of meaningful 2Q catalysts including Ph.2 SKYLINE data (X-linked retinitis pigmentosa [XLRP]) having hosted management meeting (CEO Sue Washer, CFO Jonathan Lieber) with investors. Key discussion points touched on prior XLRP data, trial designs for SKYLINE and VISTA, and the relevance of various endpoints assessed in these trials. We suspect investor sentiment to be more cautious towards clinical programs addressing ocular and retinal diseases - 2 of which is pursued by AGTC. Yet given the market opportunity, a lack of treatment option, and limited competitors on the horizon, we think even the upcoming SKYLINE outcome - if positive - can be an upside-biased catalyst. And though key differences exist between the 2 programs, success in the XLRP program could be seen as a positive readthrough to the achromatopsia program - a program receiving minimal value today."

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 $1.80 yesterday.

By Vlad Schepkov | [email protected]

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