Abeona Therapeutics (ABEO) Announces Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Abeona Therapeutics (NASDAQ:ABEO) posted its earnings results on Friday, March 16th. The biopharmaceutical company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.05), Bloomberg Earnings reports. Abeona Therapeutics had a negative return on equity of 24.57% and a negative net margin of 3,263.92%. The firm had revenue of $0.22 million for the quarter, compared to analysts’ expectations of $0.24 million. The company’s revenue for the quarter was down 16.0% on a year-over-year basis.

NASDAQ ABEO opened at $14.00 on Friday. Abeona Therapeutics has a 12-month low of $4.55 and a 12-month high of $22.75.

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Several equities analysts have recently weighed in on ABEO shares. Royal Bank of Canada reissued a “buy” rating and set a $26.00 price target on shares of Abeona Therapeutics in a report on Wednesday, January 24th. Maxim Group restated a “buy” rating and set a $35.00 price objective on shares of Abeona Therapeutics in a research report on Wednesday, February 7th. HC Wainwright set a $30.00 price objective on Abeona Therapeutics and gave the company a “buy” rating in a research report on Thursday, January 4th. BidaskClub lowered Abeona Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, January 23rd. Finally, Cantor Fitzgerald set a $36.00 price target on Abeona Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, March 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. Abeona Therapeutics presently has an average rating of “Buy” and an average price target of $28.88.

A hedge fund recently bought a new stake in Abeona Therapeutics stock. State Street Corp purchased a new stake in Abeona Therapeutics Inc (NASDAQ:ABEO) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 296,946 shares of the biopharmaceutical company’s stock, valued at approximately $1,900,000. State Street Corp owned about 0.74% of Abeona Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 62.04% of the company’s stock.

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About Abeona Therapeutics

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).

Earnings History for Abeona Therapeutics (NASDAQ:ABEO)

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