Abeona Therapeutics (NASDAQ:ABEO) Posts Earnings Results, Beats Expectations By $0.06 EPS

Abeona Therapeutics (NASDAQ:ABEO) issued its quarterly earnings data on Monday. The biopharmaceutical company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.06, FiscalAI reports. The company had revenue of $13.49 million for the quarter, compared to analyst estimates of $14.82 million.

Abeona Therapeutics Stock Performance

Shares of ABEO stock opened at $4.17 on Monday. Abeona Therapeutics has a 12 month low of $3.91 and a 12 month high of $7.65. The company’s fifty day simple moving average is $5.05 and its 200-day simple moving average is $5.46. The firm has a market cap of $238.44 million, a PE ratio of -3.83 and a beta of 1.50. The company has a quick ratio of 6.40, a current ratio of 6.63 and a debt-to-equity ratio of 0.01.

Analysts Set New Price Targets

ABEO has been the subject of a number of research analyst reports. Weiss Ratings lowered shares of Abeona Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, August 17th. Oppenheimer reiterated an “outperform” rating and set a $21.00 target price (down from $22.00) on shares of Abeona Therapeutics in a report on Friday, August 14th. Wall Street Zen raised Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 1st. Cantor Fitzgerald boosted their price target on Abeona Therapeutics from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, September 18th. Finally, HC Wainwright restated a “buy” rating on shares of Abeona Therapeutics in a report on Friday, September 25th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Abeona Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Insiders Place Their Bets

In other Abeona Therapeutics news, CEO Vishwas Seshadri sold 19,608 shares of the business’s stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $5.16, for a total transaction of $101,177.28. Following the sale, the chief executive officer directly owned 1,286,500 shares of the company’s stock, valued at $6,638,340. The trade was a 1.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Madhav Vasanthavada sold 4,902 shares of the stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $5.16, for a total transaction of $25,294.32. Following the transaction, the insider owned 285,721 shares of the company’s stock, valued at approximately $1,474,320.36. This represents a 1.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 55,428 shares of company stock valued at $296,508 in the last quarter. Company insiders own 7.10% of the company’s stock.

About Abeona Therapeutics

Abeona Therapeutics Inc (NASDAQ: ABEO) is a biopharmaceutical company focused on developing and commercializing cell and gene therapies for serious and rare genetic diseases. The company’s programs are designed to address conditions with limited treatment options, including diseases caused by genetic defects affecting the skin and other tissues.

Abeona’s lead product, prademagene zamikeracel, is an autologous cell therapy for recessive dystrophic epidermolysis bullosa (RDEB), a rare inherited disorder that causes fragile skin and chronic wounds.