UPDATE: Applied Genetic Technologies Corp. (AGTC) PT Raised to 'Street High' $35 at Roth Capital
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(Updated - February 1, 2021 9:36 AM EST)
Roth Capital analyst Zegbeh Jallah raised the price target on Applied Genetic Technologies Corp. (NASDAQ: AGTC) to a 'Street High' $35.00 (from $30.00) while maintaining a Buy rating.
The analyst comments "Wednesday, after-market-close, AGTC press-released encouraging data from its Phase 1/2 studies of AGTC-402 in Achromatopsia (ACHM) patients that typically have little-to-no photoreceptor function, and experience extreme light discomfort. The update from these patients with CNGB3 and CNGA3 mutations was indeed the very first quantitative evidence of visual sensitivity improvements. More updates are expected in 2021, but we view this is as a strong indication of AGTC-402's efficacy potential, and more broadly AGTC's gene therapy platform, supporting our price target increase."
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