Abeona Therapeutics Inc. (ABEO) Upgraded by BidaskClub to “Strong-Buy”
BidaskClub upgraded shares of Abeona Therapeutics Inc. (NASDAQ:ABEO) from a buy rating to a strong-buy rating in a research note published on Wednesday.
Other equities research analysts also recently issued reports about the company. Cantor Fitzgerald reissued a buy rating and issued a $21.00 price objective on shares of Abeona Therapeutics in a research note on Tuesday, June 6th. Jefferies Group LLC reissued a buy rating and set a $11.00 price objective on shares of Abeona Therapeutics in a report on Thursday, June 1st. FBR & Co reiterated a buy rating on shares of Abeona Therapeutics in a research report on Friday, May 26th. Maxim Group set a $14.00 target price on Abeona Therapeutics and gave the stock a buy rating in a research report on Thursday, May 25th. Finally, Zacks Investment Research raised Abeona Therapeutics from a hold rating to a buy rating and set a $10.00 price target on the stock in a research report on Tuesday, July 11th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Buy and an average price target of $17.43.
Abeona Therapeutics (NASDAQ:ABEO) opened at 8.90 on Wednesday. Abeona Therapeutics has a 52-week low of $2.33 and a 52-week high of $9.85. The firm’s market capitalization is $358.27 million. The firm’s 50-day moving average is $5.54 and its 200-day moving average is $5.24.
Abeona Therapeutics (NASDAQ:ABEO) last announced its earnings results on Thursday, May 18th. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.02. Abeona Therapeutics had a negative return on equity of 26.99% and a negative net margin of 2,568.57%. The business had revenue of $0.19 million during the quarter, compared to analysts’ expectations of $0.28 million. On average, analysts anticipate that Abeona Therapeutics will post ($0.56) earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its stake in Abeona Therapeutics by 869.7% in the first quarter. Goldman Sachs Group Inc. now owns 116,000 shares of the biopharmaceutical company’s stock valued at $580,000 after buying an additional 104,038 shares in the last quarter. Family Management Corp purchased a new position in shares of Abeona Therapeutics during the first quarter valued at approximately $120,000. Highbridge Capital Management LLC increased its position in shares of Abeona Therapeutics by 23.5% in the first quarter. Highbridge Capital Management LLC now owns 681,611 shares of the biopharmaceutical company’s stock valued at $3,408,000 after buying an additional 129,811 shares during the period. Geode Capital Management LLC increased its position in shares of Abeona Therapeutics by 2.4% in the first quarter. Geode Capital Management LLC now owns 196,073 shares of the biopharmaceutical company’s stock valued at $980,000 after buying an additional 4,588 shares during the period. Finally, Segantii Capital Management Ltd increased its position in shares of Abeona Therapeutics by 564.6% in the first quarter. Segantii Capital Management Ltd now owns 33,894 shares of the biopharmaceutical company’s stock valued at $169,000 after buying an additional 28,794 shares during the period. Institutional investors own 35.60% of the company’s stock.
About Abeona Therapeutics
Abeona Therapeutics Inc is a clinical-stage biopharmaceutical company developing novel gene therapies for life-threatening rare genetic diseases. The Company’s lead programs include ABO-102 (AAV-SGSH), an adeno-associated virus (AAV) based gene therapy for Sanfilippo syndrome type A (MPS IIIA) and EB-101 (gene-corrected skin grafts) for recessive dystrophic epidermolysis bullosa (RDEB).
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