HC Wainwright Reiterates Buy Rating for Abeona Therapeutics (NASDAQ:ABEO)

Abeona Therapeutics (NASDAQ:ABEO)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a research note issued on Thursday,Benzinga reports. They currently have a $20.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price objective indicates a potential upside of 339.56% from the company’s current price.

Several other equities research analysts also recently weighed in on ABEO. Weiss Ratings reissued a “sell (d+)” rating on shares of Abeona Therapeutics in a research report on Wednesday, January 21st. Stifel Nicolaus set a $17.00 target price on Abeona Therapeutics in a research note on Tuesday. Finally, Oppenheimer reissued an “outperform” rating on shares of Abeona Therapeutics in a report on Monday, March 9th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

Abeona Therapeutics Price Performance

Shares of NASDAQ:ABEO opened at $4.55 on Thursday. The business has a fifty day moving average price of $5.10 and a 200-day moving average price of $5.23. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.93 and a quick ratio of 9.53. The company has a market capitalization of $246.56 million, a PE ratio of 4.42 and a beta of 1.13. Abeona Therapeutics has a 1-year low of $3.93 and a 1-year high of $7.54.

Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings data on Tuesday, March 17th. The biopharmaceutical company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.01. The firm had revenue of $3.00 million for the quarter, compared to analysts’ expectations of $5.65 million. As a group, equities analysts expect that Abeona Therapeutics will post -1.16 EPS for the current fiscal year.

Insider Activity at Abeona Therapeutics

In other news, Director Leila Alland sold 18,065 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $5.09, for a total transaction of $91,950.85. Following the transaction, the director directly owned 173,614 shares of the company’s stock, valued at $883,695.26. This represents a 9.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eric Crombez sold 16,284 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $5.09, for a total value of $82,885.56. Following the completion of the transaction, the director owned 63,456 shares in the company, valued at approximately $322,991.04. This trade represents a 20.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 209,605 shares of company stock valued at $1,101,300 over the last quarter. 6.90% of the stock is owned by company insiders.

Institutional Trading of Abeona Therapeutics

Hedge funds have recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. lifted its holdings in Abeona Therapeutics by 14.2% in the second quarter. Adage Capital Partners GP L.L.C. now owns 3,072,985 shares of the biopharmaceutical company’s stock valued at $17,455,000 after acquiring an additional 381,357 shares during the period. Vanguard Group Inc. grew its stake in shares of Abeona Therapeutics by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 2,602,901 shares of the biopharmaceutical company’s stock valued at $13,743,000 after purchasing an additional 95,878 shares during the period. AIGH Capital Management LLC bought a new stake in shares of Abeona Therapeutics during the 4th quarter valued at about $10,540,000. Boone Capital Management LLC purchased a new stake in shares of Abeona Therapeutics during the 2nd quarter valued at about $7,126,000. Finally, Geode Capital Management LLC lifted its stake in shares of Abeona Therapeutics by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 1,137,127 shares of the biopharmaceutical company’s stock worth $5,994,000 after purchasing an additional 9,996 shares during the period. Hedge funds and other 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.