HC Wainwright Reaffirms Buy Rating for Abeona Therapeutics Inc. (ABEO)
HC Wainwright restated their buy rating on shares of Abeona Therapeutics Inc. (NASDAQ:ABEO) in a report released on Monday morning. The brokerage currently has a $20.00 price objective on the biopharmaceutical company’s stock.
ABEO has been the subject of a number of other reports. Maxim Group set a $17.00 price objective on Abeona Therapeutics and gave the stock a buy rating in a research report on Wednesday, August 16th. FBR & Co restated a buy rating on shares of Abeona Therapeutics in a report on Friday, May 26th. Cantor Fitzgerald restated a buy rating and set a $21.00 target price on shares of Abeona Therapeutics in a report on Tuesday, June 6th. Zacks Investment Research cut Abeona Therapeutics from a hold rating to a sell rating in a report on Tuesday, August 22nd. Finally, BidaskClub upgraded Abeona Therapeutics from a buy rating to a strong-buy rating in a report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $18.50.
Shares of Abeona Therapeutics (NASDAQ ABEO) opened at 16.20 on Monday. The company has a 50-day moving average of $10.74 and a 200 day moving average of $7.22. The firm’s market cap is $652.65 million. Abeona Therapeutics has a 12-month low of $4.05 and a 12-month high of $17.90.
Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings data on Tuesday, August 15th. The biopharmaceutical company reported ($0.21) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.07). The firm had revenue of $0.22 million during the quarter, compared to analyst estimates of $0.21 million. Abeona Therapeutics had a negative return on equity of 26.66% and a negative net margin of 2,746.38%. Equities analysts predict that Abeona Therapeutics will post ($0.68) EPS for the current year.
Several large investors have recently added to or reduced their stakes in ABEO. State Street Corp bought a new position in shares of Abeona Therapeutics during the 2nd quarter valued at about $1,900,000. Northern Trust Corp raised its position in Abeona Therapeutics by 406.3% in the 2nd quarter. Northern Trust Corp now owns 257,668 shares of the biopharmaceutical company’s stock valued at $1,649,000 after buying an additional 206,775 shares during the last quarter. Highbridge Capital Management LLC raised its position in Abeona Therapeutics by 23.5% in the 1st 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 last quarter. Vanguard Group Inc. raised its position in Abeona Therapeutics by 11.2% in the 2nd quarter. Vanguard Group Inc. now owns 1,081,670 shares of the biopharmaceutical company’s stock valued at $6,922,000 after buying an additional 108,730 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Abeona Therapeutics by 869.7% in the 1st 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 during the last quarter. Institutional investors and hedge funds own 38.24% 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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