Wedbush Defends Applied Genetic Technologies Corp. (AGTC)

January 23, 2020 11:19 AM EST
Get Alerts AGTC Hot Sheet
Price: $3.70 +3.93%

Rating Summary:
    10 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 22 | Down: 26 | New: 45
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Wedbush analyst David Nierengarten weighed in in Applied Genetic Technologies Corp. (NASDAQ: AGTC) with shares down 25% after achromatopsia (ACHM) data underwhelmed. Nierengarten said while disappointing, it is "not a zero."

The analyst sees the price action as "overdone" as it suggests a premature zeroing out of the entire program that they believe is not justified without the more robust 6-month update that’s anticipated in 2H20.

The firm reiterated an Outperform rating and $12.00 price target on AGTC.

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 $9.86 yesterday.

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