Abeona Therapeutics’ (ABEO) Buy Rating Reaffirmed at Maxim Group
Maxim Group reaffirmed their buy rating on shares of Abeona Therapeutics Inc. (NASDAQ:ABEO) in a research note released on Tuesday. Maxim Group currently has a $14.00 price objective on the biopharmaceutical company’s stock.
ABEO has been the topic of several other reports. Cantor Fitzgerald restated a buy rating and set a $21.00 price target on shares of Abeona Therapeutics in a report on Friday, September 23rd. Zacks Investment Research lowered shares of Abeona Therapeutics from a hold rating to a sell rating in a research report on Monday, August 22nd. FBR & Co reaffirmed a buy rating and issued a $15.00 price objective on shares of Abeona Therapeutics in a research report on Friday, August 26th. Finally, Rodman & Renshaw reaffirmed a buy rating and issued a $17.00 price objective on shares of Abeona Therapeutics in a research report on Sunday, August 21st. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Abeona Therapeutics presently has a consensus rating of Buy and an average price target of $14.50.
Abeona Therapeutics (NASDAQ:ABEO) traded down 2.8591% during mid-day trading on Tuesday, hitting $7.7227. 82,951 shares of the company traded hands. The firm’s market capitalization is $259.06 million. The firm has a 50 day moving average of $5.70 and a 200 day moving average of $3.61. Abeona Therapeutics has a one year low of $2.05 and a one year high of $8.10.
Abeona Therapeutics (NASDAQ:ABEO) last released its quarterly earnings results on Tuesday, August 16th. The biopharmaceutical company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.14) by $0.06. Abeona Therapeutics had a negative return on equity of 30.84% and a negative net margin of 2,177.03%. Equities research analysts expect that Abeona Therapeutics will post ($0.73) earnings per share for the current fiscal year.
In other news, Director Todd Wider bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 20th. The shares were acquired at an average price of $5.48 per share, with a total value of $27,400.00. Following the acquisition, the director now owns 75,000 shares of the company’s stock, valued at approximately $411,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 13.00% of the company’s stock.
A number of hedge funds have recently bought and sold shares of ABEO. Royce & Associates LP raised its stake in Abeona Therapeutics by 25.6% in the first quarter. Royce & Associates LP now owns 376,321 shares of the biopharmaceutical company’s stock worth $963,000 after buying an additional 76,678 shares during the period. Sabby Management LLC raised its stake in Abeona Therapeutics by 11.4% in the first quarter. Sabby Management LLC now owns 334,108 shares of the biopharmaceutical company’s stock worth $855,000 after buying an additional 34,108 shares during the period. Finally, Geode Capital Management LLC raised its stake in Abeona Therapeutics by 16.7% in the first quarter. Geode Capital Management LLC now owns 70,496 shares of the biopharmaceutical company’s stock worth $180,000 after buying an additional 10,082 shares during the period. 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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