Abeona Therapeutics (NASDAQ:ABEO) Earns “Buy” Rating from HC Wainwright

Abeona Therapeutics (NASDAQ:ABEO)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a note issued to investors on Thursday,Benzinga reports. They currently have a $20.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price target would suggest a potential upside of 251.49% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Oppenheimer reaffirmed an “outperform” rating on shares of Abeona Therapeutics in a report on Monday, March 9th. Wall Street Zen raised Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Stifel Nicolaus set a $17.00 price target on Abeona Therapeutics in a report on Tuesday, March 17th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.00.

Abeona Therapeutics Stock Performance

Shares of NASDAQ ABEO opened at $5.69 on Thursday. The company has a quick ratio of 5.70, a current ratio of 5.89 and a debt-to-equity ratio of 0.03. The firm’s 50-day moving average price is $5.16 and its two-hundred day moving average price is $5.08. Abeona Therapeutics has a 52-week low of $4.00 and a 52-week high of $7.54. The stock has a market capitalization of $324.27 million, a P/E ratio of 5.87 and a beta of 1.35.

Abeona Therapeutics (NASDAQ:ABEO) last issued its earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.03. The business had revenue of $8.72 million during the quarter, compared to the consensus estimate of $4.57 million. As a group, sell-side analysts forecast that Abeona Therapeutics will post -0.79 earnings per share for the current year.

Insider Activity at Abeona Therapeutics

In related news, Director Eric Crombez sold 26,143 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $5.53, for a total transaction of $144,570.79. Following the transaction, the director owned 37,313 shares in the company, valued at $206,340.89. This trade represents a 41.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Alvino sold 6,500 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $5.46, for a total transaction of $35,490.00. Following the transaction, the director owned 77,565 shares in the company, valued at $423,504.90. This represents a 7.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 38,191 shares of company stock worth $213,127 over the last quarter. 6.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Legal & General Group Plc bought a new position in shares of Abeona Therapeutics in the second quarter valued at $27,000. Royal Bank of Canada increased its holdings in shares of Abeona Therapeutics by 49.6% in the first quarter. Royal Bank of Canada now owns 6,500 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 2,155 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of Abeona Therapeutics in the third quarter valued at $37,000. Truvestments Capital LLC increased its holdings in shares of Abeona Therapeutics by 191.4% in the fourth quarter. Truvestments Capital LLC now owns 10,307 shares of the biopharmaceutical company’s stock valued at $54,000 after buying an additional 6,770 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Abeona Therapeutics in the fourth quarter valued at $57,000. Institutional investors own 80.56% of the company’s stock.

About Abeona Therapeutics

Abeona Therapeutics is a clinical‐stage biopharmaceutical company focused on the development and commercialization of gene and cell therapies for severe, life‐threatening rare diseases and oncology indications. Founded in 2014 and headquartered in Cleveland, Ohio, Abeona leverages proprietary viral and non‐viral delivery platforms to correct or compensate for underlying genetic deficiencies. The company’s research efforts target pediatric neurodegenerative disorders as well as debilitating dermatologic conditions with high unmet medical need.

The company’s lead clinical programs include separate AAV‐based gene therapies for CLN1 and CLN3 forms of neuronal ceroid lipofuscinosis, alongside an ex vivo autologous cell therapy for recessive dystrophic epidermolysis bullosa.