Abeona Therapeutics Inc. (NASDAQ:ABEO)‘s stock had its “buy” rating reaffirmed by investment analysts at Maxim Group in a report released on Thursday. They presently have a $14.00 price objective on the biopharmaceutical company’s stock, up from their prior price objective of $8.00. Maxim Group’s price target indicates a potential upside of 133.33% from the stock’s current price.
Several other brokerages also recently issued reports on ABEO. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $21.00 price target on shares of Abeona Therapeutics in a report on Friday, September 23rd. FBR & Co set a $15.00 price target on shares of Abeona Therapeutics and gave the company a “buy” rating in a report on Wednesday, September 21st. Zacks Investment Research downgraded shares of Abeona Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, September 12th. Finally, Rodman & Renshaw reissued a “buy” rating and issued a $17.00 price objective on shares of Abeona Therapeutics in a research report on Sunday, August 21st. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Abeona Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $14.00.
Abeona Therapeutics (NASDAQ:ABEO) opened at 6.00 on Thursday. The firm has a 50-day moving average of $4.86 and a 200 day moving average of $3.27. The stock’s market cap is $201.27 million. Abeona Therapeutics has a 12 month low of $2.05 and a 12 month high of $6.80.
Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings results on Tuesday, August 16th. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by $0.06. Abeona Therapeutics had a negative net margin of 2,177.03% and a negative return on equity of 30.84%. Analysts anticipate that Abeona Therapeutics will post ($0.73) EPS for the current year.
In other news, Director Todd Wider acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, September 20th. The stock was acquired at an average price of $5.48 per share, with a total value of $27,400.00. Following the completion of the transaction, the director now directly owns 75,000 shares in the company, valued at approximately $411,000. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 13.00% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of ABEO. Royce & Associates LP raised its position in shares of Abeona Therapeutics by 25.6% in the first quarter. Royce & Associates LP now owns 376,321 shares of the biopharmaceutical company’s stock valued at $963,000 after buying an additional 76,678 shares during the period. Sabby Management LLC raised its position in shares of Abeona Therapeutics by 11.4% in the first quarter. Sabby Management LLC now owns 334,108 shares of the biopharmaceutical company’s stock valued at $855,000 after buying an additional 34,108 shares during the period. BlackRock Fund Advisors raised its position in shares of Abeona Therapeutics by 8.5% in the first quarter. BlackRock Fund Advisors now owns 302,262 shares of the biopharmaceutical company’s stock valued at $774,000 after buying an additional 23,734 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Abeona Therapeutics by 16.7% in the first quarter. Geode Capital Management LLC now owns 70,496 shares of the biopharmaceutical company’s stock valued at $180,000 after buying an additional 10,082 shares during the period. 19.95% of the stock is owned by hedge funds and other institutional investors.
About Abeona Therapeutics
Abeona Therapeutics, Inc (Abeona), formerly PlasmaTech Biopharmaceuticals, Inc, is focused on developing and delivering gene therapy and plasma-based products for rare diseases. The Company’s lead programs are ABO-101 (AA9 NAGLU) and ABO-102 (scAAV9 SGHG), adeno-associated virus (AAV)-based gene therapies for Sanfilippo syndrome (Mucopolysaccharidosis (MPS) IIIA and IIIB) in collaboration with patient advocate groups, researchers and clinicians.
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