Zacks Investment Research Downgrades Abeona Therapeutics Inc. (ABEO) to Sell
Abeona Therapeutics Inc. (NASDAQ:ABEO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
According to Zacks, “Abeona Therapeutics, Inc. is engaged in developing and delivering gene therapy and plasma-based products for rare diseases. Abeona Therapeutics Inc., formerly known as PlasmaTech Biopharmaceuticals, Inc., is based in Dallas, United States. “
A number of other analysts have also weighed in on the company. Maxim Group set a $17.00 price objective on Abeona Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, August 16th. BidaskClub lowered Abeona Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. HC Wainwright set a $20.00 price objective on Abeona Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Cantor Fitzgerald set a $21.00 price objective on Abeona Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $22.00 price objective on shares of Abeona Therapeutics in a research report on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. Abeona Therapeutics presently has an average rating of “Buy” and a consensus price target of $17.86.
Abeona Therapeutics (NASDAQ:ABEO) opened at 8.75 on Tuesday. The stock’s market capitalization is $352.51 million. Abeona Therapeutics has a 52 week low of $3.90 and a 52 week high of $10.26. The firm has a 50-day moving average price of $8.43 and a 200-day moving average price of $6.16.
Abeona Therapeutics (NASDAQ:ABEO) last announced its earnings results on Tuesday, August 15th. The biopharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by $0.07. Abeona Therapeutics had a negative net margin of 2,746.38% and a negative return on equity of 26.66%. The firm had revenue of $0.22 million during the quarter, compared to analysts’ expectations of $0.21 million. Equities research analysts predict that Abeona Therapeutics will post ($0.62) EPS for the current fiscal year.
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Hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System bought a new stake in Abeona Therapeutics during the second quarter worth $275,000. State Street Corp acquired a new position in Abeona Therapeutics during the second quarter valued at approximately $1,900,000. Vanguard Group Inc. raised its position in Abeona Therapeutics by 11.2% in the second quarter. Vanguard Group Inc. now owns 1,081,670 shares of the biopharmaceutical company’s stock valued at $6,922,000 after buying an additional 108,730 shares during the period. Northern Trust Corp raised its position in Abeona Therapeutics by 406.3% in the second quarter. Northern Trust Corp now owns 257,668 shares of the biopharmaceutical company’s stock valued at $1,649,000 after buying an additional 206,775 shares during the period. Finally, TIAA CREF Investment Management LLC acquired a new position in Abeona Therapeutics during the second quarter valued at approximately $430,000. 36.15% of the stock is currently owned by institutional investors and hedge funds.
Abeona Therapeutics Company Profile
Abeona Therapeutics Inc is a clinical-stage biopharmaceutical company developing novel gene therapies for life-threatening rare genetic diseases. The Company’s lead programs include ABO-102 (AAV-SGSH), an adeno-associated virus (AAV) based gene therapy for Sanfilippo syndrome type A (MPS IIIA) and EB-101 (gene-corrected skin grafts) for recessive dystrophic epidermolysis bullosa (RDEB).
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