Abeona Therapeutics Inc. (NASDAQ:ABEO) announced its earnings results on Thursday, May 18th. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02, Bloomberg Earnings reports. Abeona Therapeutics had a negative net margin of 2,568.57% and a negative return on equity of 26.99%. The business had revenue of $0.19 million during the quarter, compared to the consensus estimate of $0.28 million.

Shares of Abeona Therapeutics (ABEO) traded down 1.05% on Friday, hitting $4.70. 191,091 shares of the stock were exchanged. The company’s market cap is $189.20 million. The company has a 50-day moving average price of $5.54 and a 200 day moving average price of $5.26. Abeona Therapeutics has a 12 month low of $2.31 and a 12 month high of $9.44.

Earnings History for Abeona Therapeutics (NASDAQ:ABEO)

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A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Abeona Therapeutics by 6.6% in the first quarter. Vanguard Group Inc. now owns 972,940 shares of the biopharmaceutical company’s stock worth $4,864,000 after buying an additional 59,974 shares in the last quarter. Geode Capital Management LLC raised its stake in Abeona Therapeutics by 2.4% in the first quarter. Geode Capital Management LLC now owns 196,073 shares of the biopharmaceutical company’s stock worth $980,000 after buying an additional 4,588 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Abeona Therapeutics by 869.7% in the first quarter. Goldman Sachs Group Inc. now owns 116,000 shares of the biopharmaceutical company’s stock worth $580,000 after buying an additional 104,038 shares in the last quarter. Morgan Stanley raised its stake in Abeona Therapeutics by 2,555.0% in the first quarter. Morgan Stanley now owns 104,632 shares of the biopharmaceutical company’s stock worth $523,000 after buying an additional 100,691 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Abeona Therapeutics by 125.8% in the first quarter. Bank of New York Mellon Corp now owns 41,929 shares of the biopharmaceutical company’s stock worth $210,000 after buying an additional 23,358 shares in the last quarter. Institutional investors and hedge funds own 35.84% of the company’s stock.

A number of brokerages recently weighed in on ABEO. FBR & Co reissued a “buy” rating on shares of Abeona Therapeutics in a research note on Friday, May 26th. Maxim Group set a $14.00 price target on shares of Abeona Therapeutics and gave the company a “buy” rating in a research note on Saturday, May 13th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $21.00 price target on shares of Abeona Therapeutics in a research note on Tuesday, June 6th. Zacks Investment Research downgraded shares of Abeona Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, March 14th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $11.00 price target on shares of Abeona Therapeutics in a research note on Friday, February 17th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $15.18.

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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