Abeona Therapeutics (NASDAQ:ABEO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Abeona Therapeutics, Inc. is engaged in developing and delivering gene therapy and plasma-based products for rare diseases. Abeona Therapeutics Inc., formerly known as PlasmaTech Biopharmaceuticals, Inc., is based in Dallas, United States. “

A number of other brokerages also recently commented on ABEO. HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of Abeona Therapeutics in a research note on Thursday, September 13th. Maxim Group reissued a “buy” rating and set a $35.00 target price on shares of Abeona Therapeutics in a research note on Friday, August 10th. ValuEngine raised shares of Abeona Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 2nd. BidaskClub raised shares of Abeona Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Finally, B. Riley started coverage on shares of Abeona Therapeutics in a research note on Wednesday, June 27th. They set a “buy” rating and a $26.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $26.80.

ABEO traded down $0.41 during trading on Wednesday, reaching $10.04. The stock had a trading volume of 19,264 shares, compared to its average volume of 885,135. The company has a market capitalization of $613.67 million, a price-to-earnings ratio of -15.21 and a beta of 1.10. Abeona Therapeutics has a 1-year low of $9.66 and a 1-year high of $22.00.

Abeona Therapeutics (NASDAQ:ABEO) last released its earnings results on Friday, August 10th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.06). The firm had revenue of $0.82 million during the quarter, compared to analyst estimates of $1.81 million. Abeona Therapeutics had a negative return on equity of 23.02% and a negative net margin of 881.74%. As a group, research analysts predict that Abeona Therapeutics will post -0.88 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of ABEO. FMR LLC boosted its holdings in Abeona Therapeutics by 47.7% in the second quarter. FMR LLC now owns 7,094,307 shares of the biopharmaceutical company’s stock worth $113,509,000 after purchasing an additional 2,291,016 shares in the last quarter. Millennium Management LLC boosted its holdings in Abeona Therapeutics by 2,357.3% during the first quarter. Millennium Management LLC now owns 916,256 shares of the biopharmaceutical company’s stock valued at $13,148,000 after acquiring an additional 878,969 shares during the period. PointState Capital LP bought a new stake in Abeona Therapeutics during the second quarter valued at about $9,210,000. BlackRock Inc. boosted its holdings in Abeona Therapeutics by 16.6% during the second quarter. BlackRock Inc. now owns 2,184,506 shares of the biopharmaceutical company’s stock valued at $34,951,000 after acquiring an additional 311,034 shares during the period. Finally, Nexthera Capital LP boosted its holdings in Abeona Therapeutics by 69.6% during the second quarter. Nexthera Capital LP now owns 626,804 shares of the biopharmaceutical company’s stock valued at $10,029,000 after acquiring an additional 257,304 shares during the period. Hedge funds and other institutional investors own 76.24% of the company’s stock.

Abeona Therapeutics Company Profile

Abeona Therapeutics Inc, a clinical-stage biopharmaceutical company, focuses on developing and delivering gene therapy products for severe and life-threatening rare diseases. The company's lead programs are EB-101 (gene-corrected skin grafts) for recessive dystrophic epidermolysis bullosa (RDEB); ABO-102, which are AAV based gene therapies for Sanfilippo syndrome type A; and ABO-101, an adeno-associated virus (AAV) based gene therapies for Sanfilippo syndrome type B.

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