Abeona Therapeutics Inc. (ABEO) Given Buy Rating at Cantor Fitzgerald
Cantor Fitzgerald reissued their buy rating on shares of Abeona Therapeutics Inc. (NASDAQ:ABEO) in a research report released on Friday. They currently have a $21.00 target price on the biopharmaceutical company’s stock.
A number of other research analysts have also recently weighed in on the company. Maxim Group restated a buy rating and issued a $14.00 price target (up previously from $8.00) on shares of Abeona Therapeutics in a research report on Thursday. FBR & Co set a $15.00 price objective on Abeona Therapeutics and gave the company a buy rating in a research note on Wednesday, September 21st. Zacks Investment Research lowered Abeona Therapeutics from a hold rating to a sell rating in a research note on Monday, September 12th. Finally, Rodman & Renshaw reaffirmed a buy rating and set a $17.00 price objective on shares of Abeona Therapeutics in a research note on Sunday, August 21st. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $14.00.
Shares of Abeona Therapeutics (NASDAQ:ABEO) traded up 1.83% during mid-day trading on Friday, reaching $6.11. 24,608 shares of the company traded hands. The stock’s market capitalization is $204.96 million. The company’s 50 day moving average is $4.86 and its 200 day moving average is $3.27. Abeona Therapeutics has a 52-week low of $2.05 and a 52-week high of $6.80.
Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings results on Tuesday, August 16th. The biopharmaceutical company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by $0.06. Abeona Therapeutics had a negative net margin of 2,177.03% and a negative return on equity of 30.84%. On average, equities analysts forecast that Abeona Therapeutics will post ($0.73) earnings per share for the current year.
In other news, Director Todd Wider acquired 5,000 shares of Abeona Therapeutics stock in a transaction dated Tuesday, September 20th. The shares were acquired at an average cost of $5.48 per share, with a total value of $27,400.00. Following the purchase, the director now directly owns 75,000 shares of the company’s stock, valued at approximately $411,000. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 13.00% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in ABEO. Royce & Associates LP raised its position in Abeona Therapeutics by 25.6% in the first quarter. Royce & Associates LP now owns 376,321 shares of the biopharmaceutical company’s stock valued at $963,000 after buying an additional 76,678 shares in the last quarter. Sabby Management LLC increased its stake in shares of Abeona Therapeutics by 11.4% in the first quarter. Sabby Management LLC now owns 334,108 shares of the biopharmaceutical company’s stock valued at $855,000 after buying an additional 34,108 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of Abeona Therapeutics by 8.5% in the first quarter. BlackRock Fund Advisors now owns 302,262 shares of the biopharmaceutical company’s stock valued at $774,000 after buying an additional 23,734 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Abeona Therapeutics by 16.7% in the first quarter. Geode Capital Management LLC now owns 70,496 shares of the biopharmaceutical company’s stock valued at $180,000 after buying an additional 10,082 shares during the last quarter. 19.95% of the stock is currently owned by institutional investors and hedge funds.
About Abeona Therapeutics
Abeona Therapeutics, Inc (Abeona), formerly PlasmaTech Biopharmaceuticals, Inc, is focused on developing and delivering gene therapy and plasma-based products for rare diseases. The Company’s lead programs are ABO-101 (AA9 NAGLU) and ABO-102 (scAAV9 SGHG), adeno-associated virus (AAV)-based gene therapies for Sanfilippo syndrome (Mucopolysaccharidosis (MPS) IIIA and IIIB) in collaboration with patient advocate groups, researchers and clinicians.
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