REGENXBIO (NASDAQ:RGNX) Posts Quarterly Earnings Results, Beats Estimates By $0.26 EPS

REGENXBIO (NASDAQ:RGNX) issued its quarterly earnings results on Thursday. The biotechnology company reported ($1.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.27) by $0.26, Zacks reports. REGENXBIO had a negative net margin of 283.19% and a negative return on equity of 70.65%. The company had revenue of $21.21 million during the quarter, compared to the consensus estimate of $23.70 million.

REGENXBIO Stock Up 5.3 %

Shares of RGNX stock traded up $0.35 during trading on Friday, hitting $6.90. The company had a trading volume of 850,935 shares, compared to its average volume of 928,273. The stock’s 50-day moving average is $7.34 and its two-hundred day moving average is $9.08. The stock has a market capitalization of $341.86 million, a price-to-earnings ratio of -1.37 and a beta of 1.35. REGENXBIO has a 52 week low of $5.62 and a 52 week high of $23.14.

Analyst Ratings Changes

RGNX has been the topic of a number of research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $30.00 target price on shares of REGENXBIO in a research report on Tuesday, January 21st. HC Wainwright reiterated a “buy” rating and set a $36.00 price objective on shares of REGENXBIO in a research report on Wednesday, January 15th. Morgan Stanley increased their price target on REGENXBIO from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday. Chardan Capital restated a “buy” rating and issued a $52.00 target price on shares of REGENXBIO in a research note on Friday. Finally, StockNews.com upgraded shares of REGENXBIO from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $34.13.

REGENXBIO Company Profile

REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapies that deliver functional genes to cells with genetic defects in the United States. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus gene delivery platform. The company’s products in pipeline includes ABBV-RGX-314 for the treatment of wet age-related macular degeneration, diabetic retinopathy, and other chronic retinal diseases; and RGX-202, which is in Phase I/II clinical trial for the treatment of Duchenne muscular dystrophy.