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Surging Earnings Estimates Signal Good News for Applied Genetic Technologies (AGTC)

Applied Genetic Technologies Corporation AGTC is a clinical-stage biotechnology company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on AGTC’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Applied Genetic Technologies could be a solid choice for investors.

Current Quarter Estimates for AGTC

In the past 30 days, no estimate has gone higher for Applied Genetic Technologies. However, the trend has been pretty favorable, with estimates increasing from 1 penny a share 30 days ago, to 4 cents today, a significant move.

Current Year Estimates for AGTC

Meanwhile, Applied Genetic Technologies’ consensus estimate trend for the current year has also seen a boost for this time frame, narrowing from a loss of 32 cents per share 30 days ago to a loss of 27 cents per share today, an increase of 15.6%.

Bottom Line

The stock has also started to move higher lately, adding 10% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future.

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APPLIED GEN TEC (AGTC): Free Stock Analysis Report
 
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