Abeona Therapeutics Inc. (ABEO) Posts Earnings Results, Beats Estimates By $0.11 EPS
Abeona Therapeutics Inc. (NASDAQ:ABEO) released its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.11. Abeona Therapeutics had a negative net margin of 2,177.03% and a negative return on equity of 30.84%.
Shares of Abeona Therapeutics (NASDAQ:ABEO) opened at 6.10 on Thursday. The firm has a 50-day moving average of $6.65 and a 200 day moving average of $4.08. The company’s market cap is $204.62 million. Abeona Therapeutics has a 12 month low of $2.05 and a 12 month high of $9.44.
A number of research analysts recently weighed in on the stock. Cantor Fitzgerald reissued a “buy” rating and set a $21.00 price target on shares of Abeona Therapeutics in a research report on Friday, October 21st. Maxim Group set a $14.00 price target on shares of Abeona Therapeutics and gave the company a “buy” rating in a research report on Tuesday, October 25th. Zacks Investment Research raised shares of Abeona Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, October 18th. HC Wainwright reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Abeona Therapeutics in a research report on Thursday, October 6th. Finally, FBR & Co reaffirmed a “positive” rating and issued a $15.00 price objective on shares of Abeona Therapeutics in a research report on Wednesday, October 5th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Abeona Therapeutics has a consensus rating of “Buy” and a consensus target price of $14.50.
In other Abeona Therapeutics news, Director Todd Wider bought 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, with a total value of $27,400.00. Following the transaction, the director now directly owns 75,000 shares of the company’s stock, valued at $411,000. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 13.00% of the stock is currently owned by insiders.
An institutional investor recently raised its position in Abeona Therapeutics stock. Northern Trust Corp increased its stake in shares of Abeona Therapeutics Inc. (NASDAQ:ABEO) by 52.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 24,171 shares of the biopharmaceutical company’s stock after buying an additional 8,287 shares during the period. Northern Trust Corp owned approximately 0.07% of Abeona Therapeutics worth $145,000 at the end of the most recent quarter. Institutional investors own 19.96% of the company’s stock.
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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