Abeona Therapeutics Inc. (NASDAQ:ABEO) Given Average Recommendation of “Buy” by Brokerages
Abeona Therapeutics Inc. (NASDAQ:ABEO) has earned an average rating of “Buy” from the six brokerages that are currently covering the company. One analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $17.25.
A number of brokerages have issued reports on ABEO. HC Wainwright restated a “buy” rating and set a $17.00 price objective on shares of Abeona Therapeutics in a research report on Thursday. Zacks Investment Research upgraded Abeona Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, June 15th. FBR & Co set a $15.00 price objective on Abeona Therapeutics and gave the company a “buy” rating in a research report on Thursday, August 18th. Finally, Maxim Group upped their price objective on Abeona Therapeutics from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, September 21st.
In other Abeona Therapeutics news, Director Todd Wider purchased 5,000 shares of Abeona Therapeutics stock in a transaction dated Tuesday, September 20th. The shares were purchased at an average cost of $5.48 per share, for a total transaction of $27,400.00. Following the completion of the acquisition, the director now owns 75,000 shares in the company, valued at approximately $411,000. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 13.00% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in ABEO. BlackRock Fund Advisors boosted its position 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 period. Royce & Associates LP boosted its position in shares of 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 during the period. Geode Capital Management LLC boosted its position 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 period. Finally, Sabby Management LLC boosted its position 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 period. 19.95% of the stock is currently owned by institutional investors.
Shares of Abeona Therapeutics (NASDAQ:ABEO) traded down 0.30% on Thursday, reaching $6.67. The company’s stock had a trading volume of 329,964 shares. The firm has a 50-day moving average price of $5.08 and a 200 day moving average price of $3.35. The firm’s market capitalization is $223.75 million. Abeona Therapeutics has a one year low of $2.05 and a one year high of $7.00.
Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings data on Tuesday, August 16th. The biopharmaceutical company reported ($0.20) earnings per share (EPS) 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, analysts anticipate that Abeona Therapeutics will post ($0.73) earnings per share for the current fiscal year.
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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