Abeona Therapeutics Inc. (NASDAQ:ABEO) Receives $19.00 Consensus Target Price from Brokerages

Abeona Therapeutics Inc. (NASDAQ:ABEO) has received a consensus recommendation of “Moderate Buy” from the five research firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $19.00.

ABEO has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of Abeona Therapeutics in a report on Wednesday, January 21st. Oppenheimer reiterated an “outperform” rating on shares of Abeona Therapeutics in a research report on Monday, March 9th. HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Abeona Therapeutics in a research note on Thursday, March 19th. Finally, Stifel Nicolaus set a $17.00 price target on shares of Abeona Therapeutics in a report on Tuesday, March 17th.

Institutional Trading of Abeona Therapeutics

Several large investors have recently made changes to their positions in ABEO. Dimensional Fund Advisors LP acquired a new position in Abeona Therapeutics during the 1st quarter worth approximately $154,000. AIGH Capital Management LLC grew its stake in Abeona Therapeutics by 55.0% in the first quarter. AIGH Capital Management LLC now owns 3,100,000 shares of the biopharmaceutical company’s stock valued at $13,888,000 after acquiring an additional 1,100,000 shares during the period. Simplify Asset Management Inc. grew its stake in Abeona Therapeutics by 1.5% in the first quarter. Simplify Asset Management Inc. now owns 507,988 shares of the biopharmaceutical company’s stock valued at $2,276,000 after acquiring an additional 7,646 shares during the period. XTX Topco Ltd increased its holdings in shares of Abeona Therapeutics by 25.4% during the fourth quarter. XTX Topco Ltd now owns 49,338 shares of the biopharmaceutical company’s stock valued at $260,000 after acquiring an additional 9,979 shares in the last quarter. Finally, Tang Capital Management LLC bought a new stake in shares of Abeona Therapeutics during the fourth quarter valued at approximately $5,270,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Abeona Therapeutics Stock Up 2.3%

Shares of NASDAQ:ABEO opened at $5.90 on Monday. Abeona Therapeutics has a 1 year low of $4.00 and a 1 year high of $7.54. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.93 and a quick ratio of 6.74. The business’s 50-day moving average is $5.02 and its 200-day moving average is $5.03. The company has a market capitalization of $335.59 million, a price-to-earnings ratio of 5.73 and a beta of 1.35.

Abeona Therapeutics (NASDAQ:ABEO) last released its earnings results on Tuesday, March 17th. The biopharmaceutical company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.01. The business had revenue of $3.00 million for the quarter, compared to analyst estimates of $5.65 million. Equities research analysts predict that Abeona Therapeutics will post -0.73 earnings per share for the current year.

About Abeona Therapeutics

Abeona Therapeutics is a clinical‐stage biopharmaceutical company focused on the development and commercialization of gene and cell therapies for severe, life‐threatening rare diseases and oncology indications. Founded in 2014 and headquartered in Cleveland, Ohio, Abeona leverages proprietary viral and non‐viral delivery platforms to correct or compensate for underlying genetic deficiencies. The company’s research efforts target pediatric neurodegenerative disorders as well as debilitating dermatologic conditions with high unmet medical need.

The company’s lead clinical programs include separate AAV‐based gene therapies for CLN1 and CLN3 forms of neuronal ceroid lipofuscinosis, alongside an ex vivo autologous cell therapy for recessive dystrophic epidermolysis bullosa.