Abeona Therapeutics (NASDAQ:ABEO) Upgraded by Roth Capital to Strong-Buy Rating

Abeona Therapeutics (NASDAQ:ABEO) was upgraded by stock analysts at Roth Capital to a “strong-buy” rating in a report issued on Thursday, Zacks reports.

Several other equities analysts also recently weighed in on ABEO. Weiss Ratings downgraded Abeona Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, August 17th. Oppenheimer restated an “outperform” rating and issued a $21.00 price target (down from $22.00) on shares of Abeona Therapeutics in a research report on Friday, August 14th. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Abeona Therapeutics in a research note on Thursday, May 28th. Finally, Wall Street Zen raised Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.75.

Abeona Therapeutics Stock Performance

ABEO opened at $5.59 on Thursday. The company’s 50 day moving average is $6.30 and its 200 day moving average is $5.70. The company has a current ratio of 6.63, a quick ratio of 6.40 and a debt-to-equity ratio of 0.01. The company has a market cap of $319.64 million, a price-to-earnings ratio of -5.13 and a beta of 1.33. Abeona Therapeutics has a 12-month low of $4.00 and a 12-month high of $7.65.

Abeona Therapeutics (NASDAQ:ABEO) last announced its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.12). The business had revenue of $11.38 million for the quarter, compared to analyst estimates of $12.24 million. On average, equities research analysts predict that Abeona Therapeutics will post -0.93 EPS for the current year.

Insider Activity at Abeona Therapeutics

In related news, CFO Joseph Vazzano sold 24,880 shares of the company’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $6.96, for a total value of $173,164.80. Following the completion of the transaction, the chief financial officer owned 493,557 shares of the company’s stock, valued at approximately $3,435,156.72. This represents a 4.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Brendan O’Malley sold 12,050 shares of the company’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $6.96, for a total transaction of $83,868.00. Following the completion of the transaction, the senior vice president directly owned 427,953 shares of the company’s stock, valued at $2,978,552.88. This represents a 2.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 144,985 shares of company stock worth $980,520 in the last 90 days. Company insiders own 7.10% of the company’s stock.

Hedge Funds Weigh In On Abeona Therapeutics

A number of hedge funds have recently made changes to their positions in ABEO. Royal Bank of Canada lifted its holdings in Abeona Therapeutics by 49.6% in the 1st quarter. Royal Bank of Canada now owns 6,500 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 2,155 shares in the last quarter. Legato Capital Management LLC boosted its stake in Abeona Therapeutics by 21.0% in the 4th quarter. Legato Capital Management LLC now owns 13,180 shares of the biopharmaceutical company’s stock worth $69,000 after purchasing an additional 2,290 shares during the period. Riverwater Partners LLC grew its holdings in Abeona Therapeutics by 22.2% during the 4th quarter. Riverwater Partners LLC now owns 19,375 shares of the biopharmaceutical company’s stock valued at $102,000 after buying an additional 3,518 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in Abeona Therapeutics during the 1st quarter valued at approximately $154,000. Finally, AXQ Capital LP purchased a new stake in Abeona Therapeutics during the 4th quarter valued at approximately $177,000. Institutional investors own 80.56% of the company’s stock.

Abeona Therapeutics Company Profile

Abeona Therapeutics Inc is a biopharmaceutical company focused on developing and commercializing cell and gene therapies for patients with serious and life-threatening genetic diseases. The company’s programs are designed to address conditions for which existing treatment options are limited or inadequate.

Abeona’s lead product, ZEVASKYN (prademagene zamikeracel, formerly EB-101), is an autologous gene-corrected cell therapy for recessive dystrophic epidermolysis bullosa, a rare inherited disorder that causes fragile skin and chronic wounds.