NasdaqGM:AGTC

Stock Analysis Report

Executive Summary

Applied Genetic Technologies Corporation, a clinical-stage biotechnology company, develops transformational genetic therapies for patients suffering from rare and debilitating diseases.

Rewards

Revenue is forecast to grow 61.77% per year

Earnings have grown 13% per year over the past 5 years

Risk Analysis

Currently unprofitable and not forecast to become profitable over the next 3 years

Highly volatile share price over past 3 months



Snowflake Analysis

Flawless balance sheet with limited growth.

Share Price & News

How has Applied Genetic Technologies's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: AGTC's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

8.4%

AGTC

1.1%

US Biotechs

1.7%

US Market


1 Year Return

180.9%

AGTC

11.3%

US Biotechs

23.6%

US Market

Return vs Industry: AGTC exceeded the US Biotechs industry which returned 10.9% over the past year.

Return vs Market: AGTC exceeded the US Market which returned 24.7% over the past year.


Shareholder returns

AGTCIndustryMarket
7 Day8.4%1.1%1.7%
30 Day112.5%0.2%3.5%
90 Day172.9%19.5%11.7%
1 Year180.9%180.9%12.3%11.3%26.2%23.6%
3 Year-2.9%-2.9%29.2%24.9%53.2%43.3%
5 Year-66.4%-66.4%3.7%-1.2%75.5%56.1%

Price Volatility Vs. Market

How volatile is Applied Genetic Technologies's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Applied Genetic Technologies undervalued compared to its fair value and its price relative to the market?

2.19x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate AGTC's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate AGTC's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: AGTC is unprofitable, so we can't compare its PE Ratio to the Biotechs industry average.

PE vs Market: AGTC is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate AGTC's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: AGTC is good value based on its PB Ratio (2.2x) compared to the US Biotechs industry average (3.2x).


Next Steps

Future Growth

How is Applied Genetic Technologies forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

8.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AGTC is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: AGTC is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: AGTC is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: AGTC's revenue (61.8% per year) is forecast to grow faster than the US market (7.5% per year).

High Growth Revenue: AGTC's revenue (61.8% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if AGTC's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Applied Genetic Technologies performed over the past 5 years?

13.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AGTC is currently unprofitable.

Growing Profit Margin: AGTC is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: AGTC is unprofitable, but has reduced losses over the past 5 years at a rate of 13% per year.

Accelerating Growth: Unable to compare AGTC's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: AGTC is unprofitable, making it difficult to compare its past year earnings growth to the Biotechs industry (103.3%).


Return on Equity

High ROE: AGTC has a negative Return on Equity (-21.75%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Applied Genetic Technologies's financial position?


Financial Position Analysis

Short Term Liabilities: AGTC's short term assets ($73.2M) exceed its short term liabilities ($9.2M).

Long Term Liabilities: AGTC's short term assets ($73.2M) exceed its long term liabilities ($7.4M).


Debt to Equity History and Analysis

Debt Level: AGTC is debt free.

Reducing Debt: AGTC has not had any debt for past 5 years.


Balance Sheet

Inventory Level: AGTC has a low level of unsold assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if AGTC's debt is covered by short term assets.


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: AGTC has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: AGTC has sufficient cash runway for 2 years if free cash flow continues to grow at historical rates of 6.7% each year.


Next Steps

Dividend

What is Applied Genetic Technologies's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.7%industryaverage2.1%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate AGTC's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate AGTC's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if AGTC's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if AGTC's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of AGTC's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

What is the CEO of Applied Genetic Technologies's salary, the management and board of directors tenure and is there insider trading?

17.8yrs

Average management tenure


CEO

Sue Washer (58yo)

17.8yrs

Tenure

US$1,052,232

Compensation

Ms. Susan B. Washer, also known as Sue, has been the President and Chief Executive Officer of Applied Genetic Technologies Corporation since March 2002. Ms. Washer is an experienced entrepreneur with a str ...


CEO Compensation Analysis

Compensation vs Market: Sue's total compensation ($USD1.05M) is above average for companies of similar size in the US market ($USD519.76K).

Compensation vs Earnings: Sue's compensation has been consistent with company performance over the past year.


Management Age and Tenure

17.8yrs

Average Tenure

52yo

Average Age

Experienced Management: AGTC's management team is seasoned and experienced (17.8 years average tenure).


Board Age and Tenure

7.2yrs

Average Tenure

58yo

Average Age

Experienced Board: AGTC's board of directors are considered experienced (7.2 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

SellUS$425,28930 Dec 19
Privium Fund Management BV
EntityCompany
Shares81,162
Max PriceUS$5.24
BuyUS$7,09826 Nov 19
Privium Fund Management BV
EntityCompany
Shares2,544
Max PriceUS$2.79

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Nick Muzyczka

    Co-Founder

    • Tenure: 21yrs
  • Barry Byrne

    Co-Founder

    • Tenure: 21yrs
  • William Hauswirth

    Co-Founder & Member of Ophthalmology Scientific Advisory Board

    • Richard Samulski

      Co-Founder

      • Tenure: 21yrs
    • Sue Washer (58yo)

      President

      • Tenure: 17.8yrs
      • Compensation: US$1.05m
    • Terry Flotte

      Co-Founder

      • Tenure: 21yrs
    • Mark Shearman (59yo)

      Chief Scientific Officer

      • Tenure: 4.6yrs
      • Compensation: US$772.64k
    • Bill Sullivan (48yo)

      Chief Financial Officer

      • Tenure: 2.4yrs
      • Compensation: US$920.61k
    • Matt Feinsod (48yo)

      Executive VP of Global Strategy & Development

      • Tenure: 0.4yrs
      • Compensation: US$820.25k
    • Brian Krex (52yo)

      General Counsel

      • Tenure: 0.8yrs

    Board Members

    • Ed Hurwitz (56yo)

      Independent Director

      • Tenure: 7.2yrs
      • Compensation: US$124.09k
    • Anne VanLent (71yo)

      Independent Director

      • Tenure: 3.4yrs
      • Compensation: US$129.09k
    • Scott Koenig (67yo)

      Chairman of the Board

      • Tenure: 15.8yrs
      • Compensation: US$152.09k
    • William Hauswirth

      Co-Founder & Member of Ophthalmology Scientific Advisory Board

      • Ivana Magovcevic-Liebisch (52yo)

        Independent Director

        • Tenure: 5.6yrs
        • Compensation: US$132.09k
      • David Birch

        Member of Ophthalmology Scientific Advisory Board

        • Bill Aliski (73yo)

          Independent Director

          • Tenure: 1.3yrs
          • Compensation: US$162.28k
        • Sue Washer (58yo)

          President

          • Tenure: 17.8yrs
          • Compensation: US$1.05m
        • Peter Campochiaro

          Member of Ophthalmology Scientific Advisory Board

          • Jimmy Rosen (50yo)

            Independent Director

            • Tenure: 9.8yrs
            • Compensation: US$117.09k

          Company Information

          Applied Genetic Technologies Corporation's company bio, employee growth, exchange listings and data sources


          Key Information

          • Name: Applied Genetic Technologies Corporation
          • Ticker: AGTC
          • Exchange: NasdaqGM
          • Founded: 1999
          • Industry: Biotechnology
          • Sector: Pharmaceuticals & Biotech
          • Market Cap: US$148.662m
          • Shares outstanding: 18.22m
          • Website: https://www.agtc.com

          Number of Employees


          Location

          • Applied Genetic Technologies Corporation
          • 14193 NW 119th Terrace
          • Suite 10
          • Alachua
          • Florida
          • 32615
          • United States

          Listings

          TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
          AGTCNasdaqGM (Nasdaq Global Market)YesCommon SharesUSUSDMar 2014
          2GTDB (Deutsche Boerse AG)YesCommon SharesDEEURMar 2014

          Biography

          Applied Genetic Technologies Corporation, a clinical-stage biotechnology company, develops transformational genetic therapies for patients suffering from rare and debilitating diseases. It focuses in the field of ophthalmology, with clinical programs in X-linked retinoschisis (XLRS), X-linked retinitis pigmentosa (XLRP), and achromatopsia (ACHM), as well as a preclinical program in optogenetics. The company also has initiated preclinical programs in adrenoleukodystrophy and otology indications. Applied Genetic Technologies Corporation has collaboration agreements with Synpromics Limited; Bionic Sight, LLC; and Otonomy, Inc. The company was founded in 1999 and is headquartered in Alachua, Florida. 


          Company Analysis and Financial Data Status

          All financial data provided by Standard & Poor's Capital IQ.
          DataLast Updated (UTC time)
          Company Analysis2020/01/20 00:41
          End of Day Share Price2020/01/17 00:00
          Earnings2019/09/30
          Annual Earnings2019/06/30


          Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.