Abeona Therapeutics (ABEO) PT Lowered to $23.00 at SunTrust Banks

Abeona Therapeutics (NASDAQ:ABEO) had its price objective cut by SunTrust Banks to $23.00 in a report released on Wednesday. They currently have a positive rating on the biopharmaceutical company’s stock. SunTrust Banks also issued estimates for Abeona Therapeutics’ Q2 2018 earnings at ($0.18) EPS, Q3 2018 earnings at ($0.18) EPS, Q4 2018 earnings at ($0.16) EPS, FY2018 earnings at ($0.70) EPS, FY2019 earnings at ($0.80) EPS, FY2020 earnings at ($0.82) EPS, FY2021 earnings at ($0.78) EPS and FY2022 earnings at ($0.73) EPS.

ABEO has been the topic of a number of other research reports. Royal Bank of Canada reissued a buy rating and issued a $26.00 price objective on shares of Abeona Therapeutics in a research report on Wednesday, January 24th. BidaskClub lowered shares of Abeona Therapeutics from a buy rating to a hold rating in a research report on Thursday, April 26th. Zacks Investment Research lowered shares of Abeona Therapeutics from a hold rating to a sell rating in a research report on Wednesday, March 21st. Maxim Group set a $35.00 price objective on shares of Abeona Therapeutics and gave the stock a buy rating in a research report on Monday, May 14th. Finally, ValuEngine raised shares of Abeona Therapeutics from a sell rating to a hold rating in a research report on Monday, April 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $28.50.

Shares of ABEO stock opened at $18.88 on Wednesday. The firm has a market capitalization of $1.01 billion, a PE ratio of -28.60 and a beta of 1.27. Abeona Therapeutics has a 12 month low of $4.55 and a 12 month high of $22.75.

Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings data on Monday, May 14th. The biopharmaceutical company reported ($0.18) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.01. The business had revenue of $2.60 million for the quarter, compared to analyst estimates of $0.27 million. Abeona Therapeutics had a negative net margin of 939.83% and a negative return on equity of 23.57%. research analysts forecast that Abeona Therapeutics will post -0.73 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Viking Global Investors LP raised its position in Abeona Therapeutics by 80.5% during the fourth quarter. Viking Global Investors LP now owns 4,040,727 shares of the biopharmaceutical company’s stock worth $64,046,000 after acquiring an additional 1,802,007 shares in the last quarter. BlackRock Inc. raised its position in Abeona Therapeutics by 0.3% during the first quarter. BlackRock Inc. now owns 1,873,472 shares of the biopharmaceutical company’s stock worth $26,884,000 after acquiring an additional 5,094 shares in the last quarter. Millennium Management LLC raised its position 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 worth $13,148,000 after acquiring an additional 878,969 shares in the last quarter. Nexthera Capital LP bought a new stake in Abeona Therapeutics during the first quarter worth $5,302,000. Finally, Northern Trust Corp raised its position in Abeona Therapeutics by 1.3% during the first quarter. Northern Trust Corp now owns 304,434 shares of the biopharmaceutical company’s stock worth $4,369,000 after acquiring an additional 3,941 shares in the last quarter. 62.04% of the stock is currently owned by hedge funds and other institutional investors.

About Abeona Therapeutics

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.

Analyst Recommendations for Abeona Therapeutics (NASDAQ:ABEO)

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