$230,000.00 in Sales Expected for Abeona Therapeutics Inc. (ABEO) This Quarter
Equities research analysts predict that Abeona Therapeutics Inc. (NASDAQ:ABEO) will report $230,000.00 in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Abeona Therapeutics’ earnings, with the highest sales estimate coming in at $280,000.00 and the lowest estimate coming in at $200,000.00. Abeona Therapeutics posted sales of $260,000.00 in the same quarter last year, which would indicate a negative year over year growth rate of 11.5%. The company is scheduled to announce its next earnings results on Friday, March 30th.
On average, analysts expect that Abeona Therapeutics will report full-year sales of $230,000.00 for the current fiscal year, with estimates ranging from $800,000.00 to $930,000.00. For the next fiscal year, analysts anticipate that the business will post sales of $1.14 million per share, with estimates ranging from $800,000.00 to $1.72 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Abeona Therapeutics.
Abeona Therapeutics (NASDAQ:ABEO) last released its earnings results on Wednesday, November 15th. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.05. Abeona Therapeutics had a negative return on equity of 27.69% and a negative net margin of 2,946.58%. The firm had revenue of $0.22 million for the quarter, compared to analyst estimates of $0.22 million.
Several equities research analysts have issued reports on ABEO shares. Zacks Investment Research downgraded Abeona Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. HC Wainwright restated a “buy” rating and issued a $30.00 price target (up from $20.00) on shares of Abeona Therapeutics in a report on Monday, October 9th. Royal Bank Of Canada started coverage on Abeona Therapeutics in a report on Thursday, September 14th. They issued an “outperform” rating and a $23.00 price target for the company. Maxim Group set a $17.00 price target on Abeona Therapeutics and gave the stock a “buy” rating in a report on Tuesday, August 29th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $21.00 price target on shares of Abeona Therapeutics in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. Abeona Therapeutics presently has a consensus rating of “Buy” and an average target price of $22.90.
Shares of Abeona Therapeutics (NASDAQ:ABEO) traded down $0.65 during trading on Friday, hitting $16.10. The company’s stock had a trading volume of 723,200 shares, compared to its average volume of 623,496. Abeona Therapeutics has a 12 month low of $4.05 and a 12 month high of $22.75.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Abeona Therapeutics by 11.2% during the second quarter. Vanguard Group Inc. now owns 1,081,670 shares of the biopharmaceutical company’s stock valued at $6,922,000 after purchasing an additional 108,730 shares during the last quarter. State Street Corp acquired a new position in Abeona Therapeutics during the second quarter valued at approximately $1,900,000. Northern Trust Corp boosted its position in Abeona Therapeutics by 406.3% during the second quarter. Northern Trust Corp now owns 257,668 shares of the biopharmaceutical company’s stock valued at $1,649,000 after purchasing an additional 206,775 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Abeona Therapeutics during the third quarter valued at approximately $3,527,000. Finally, Wellington Management Group LLP boosted its position in Abeona Therapeutics by 17.4% during the first quarter. Wellington Management Group LLP now owns 204,590 shares of the biopharmaceutical company’s stock valued at $1,023,000 after purchasing an additional 30,300 shares during the last quarter. 33.36% of the stock is owned by hedge funds and other institutional investors.
Abeona Therapeutics Company Profile
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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