Abeona Therapeutics Inc. (ABEO) Receives Buy Rating from HC Wainwright
Abeona Therapeutics Inc. (NASDAQ:ABEO)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a note issued to investors on Monday. They currently have a $20.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price objective would indicate a potential upside of 16.28% from the stock’s previous close.
ABEO has been the topic of a number of other research reports. Maxim Group set a $17.00 target price on shares of Abeona Therapeutics and gave the company a “buy” rating in a research report on Wednesday, August 16th. FBR & Co reiterated a “buy” rating on shares of Abeona Therapeutics in a research report on Friday, May 26th. Cantor Fitzgerald reiterated a “buy” rating and set a $21.00 target price on shares of Abeona Therapeutics in a research report on Tuesday, June 6th. Zacks Investment Research downgraded shares of Abeona Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. Finally, BidaskClub upgraded shares of Abeona Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $18.50.
Shares of Abeona Therapeutics (NASDAQ ABEO) opened at 17.20 on Monday. Abeona Therapeutics has a 12 month low of $4.05 and a 12 month high of $17.25. The company’s market cap is $692.94 million. The stock’s 50 day moving average is $10.28 and its 200 day moving average is $7.02.
Abeona Therapeutics (NASDAQ:ABEO) last released its earnings results on Tuesday, August 15th. The biopharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 company had revenue of $0.22 million for the quarter, compared to analyst estimates of $0.21 million. On average, analysts anticipate that Abeona Therapeutics will post ($0.68) EPS for the current fiscal year.
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A number of hedge funds have recently made changes to their positions in ABEO. State Street Corp bought a new stake in Abeona Therapeutics during the 2nd quarter valued at $1,900,000. Northern Trust Corp increased its stake in Abeona Therapeutics by 406.3% during the 2nd quarter. Northern Trust Corp now owns 257,668 shares of the biopharmaceutical company’s stock valued at $1,649,000 after purchasing an additional 206,775 shares in the last quarter. Highbridge Capital Management LLC increased its stake in Abeona Therapeutics by 23.5% during the 1st quarter. Highbridge Capital Management LLC now owns 681,611 shares of the biopharmaceutical company’s stock valued at $3,408,000 after purchasing an additional 129,811 shares in the last quarter. Vanguard Group Inc. increased its stake in Abeona Therapeutics by 11.2% during the 2nd quarter. Vanguard Group Inc. now owns 1,081,670 shares of the biopharmaceutical company’s stock valued at $6,922,000 after purchasing an additional 108,730 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Abeona Therapeutics by 869.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 116,000 shares of the biopharmaceutical company’s stock valued at $580,000 after purchasing an additional 104,038 shares in the last quarter. Institutional investors and hedge funds own 38.24% of the company’s stock.
About Abeona Therapeutics
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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