Zacks: Brokerages Set $30.50 Target Price for REGENXBIO Inc. (RGNX)
REGENXBIO Inc. (NASDAQ:RGNX) has been given an average broker rating score of 1.13 (Strong Buy) from the four brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a buy recommendation and three have given a strong buy recommendation to the company.
Brokerages have set a 12-month consensus price target of $30.50 for the company and are predicting that the company will post ($0.60) earnings per share for the current quarter, according to Zacks. Zacks has also given REGENXBIO an industry rank of 68 out of 265 based on the ratings given to related companies.
Several research firms have issued reports on RGNX. Zacks Investment Research raised shares of REGENXBIO from a “sell” rating to a “hold” rating in a research report on Thursday. Piper Jaffray Companies reaffirmed a “buy” rating and set a $25.00 price target on shares of REGENXBIO in a research report on Sunday, November 13th.
REGENXBIO (NASDAQ:RGNX) traded up 4.52% during mid-day trading on Friday, reaching $19.65. 67,949 shares of the company’s stock traded hands. The firm’s market cap is $520.23 million. The firm has a 50 day moving average of $20.65 and a 200 day moving average of $14.79. REGENXBIO has a 1-year low of $7.07 and a 1-year high of $24.55.
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Several institutional investors have recently added to or reduced their stakes in RGNX. Bank of New York Mellon Corp increased its position in REGENXBIO by 126.0% in the second quarter. Bank of New York Mellon Corp now owns 43,740 shares of the company’s stock valued at $350,000 after buying an additional 24,388 shares in the last quarter. California State Teachers Retirement System increased its position in REGENXBIO by 173.3% in the second quarter. California State Teachers Retirement System now owns 42,475 shares of the company’s stock valued at $340,000 after buying an additional 26,935 shares in the last quarter. Nationwide Fund Advisors increased its position in REGENXBIO by 196.1% in the second quarter. Nationwide Fund Advisors now owns 12,815 shares of the company’s stock valued at $103,000 after buying an additional 8,487 shares in the last quarter. Vanguard Group Inc. increased its position in REGENXBIO by 116.4% in the second quarter. Vanguard Group Inc. now owns 569,935 shares of the company’s stock valued at $4,559,000 after buying an additional 306,596 shares in the last quarter. Finally, BlackRock Advisors LLC increased its position in REGENXBIO by 27,318.5% in the second quarter. BlackRock Advisors LLC now owns 687,657 shares of the company’s stock valued at $5,501,000 after buying an additional 685,149 shares in the last quarter. Hedge funds and other institutional investors own 63.81% of the company’s stock.
REGENXBIO Inc is a biotechnology company. The Company is focused on the development, commercialization and licensing of recombinant adeno-associated virus (AAV) gene therapy. Its AAV gene delivery platform (its NAV Technology Platform) consists of rights to over 100 novel AAV vectors, including AAV7, AAV8, AAV9 and AAVrh10 (NAV Vectors).
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