Abeona Therapeutics (NASDAQ:ABEO)‘s stock had its “buy” rating reissued by equities researchers at Cantor Fitzgerald in a research note issued on Thursday. They presently have a $36.00 target price on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 318.12% from the company’s current price.
The analysts wrote, “: This morning Abeona Therapeutics hosted an New York. Management and KOLs provided additional color on Abeona’s internal programs, and future pipeline directions. In the new year, we believe a majority of investor focus will be on the Phase 3 EB-101 trial initiation, and clinical and commercialization strategy updates related to the MPS III programs.””
Several other research analysts have also weighed in on the company. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price on shares of Abeona Therapeutics in a research report on Thursday, September 13th. Maxim Group reaffirmed a “buy” rating and issued a $26.00 target price on shares of Abeona Therapeutics in a research report on Monday, November 5th. Mizuho initiated coverage on Abeona Therapeutics in a research report on Thursday, October 11th. They issued a “buy” rating and a $17.00 target price on the stock. ValuEngine lowered Abeona Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, October 11th. Finally, Citigroup dropped their target price on Abeona Therapeutics from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, November 13th. Two analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. Abeona Therapeutics presently has an average rating of “Buy” and an average target price of $26.78.
ABEO stock traded up $0.46 during mid-day trading on Thursday, hitting $8.61. The stock had a trading volume of 196,176 shares, compared to its average volume of 609,641. Abeona Therapeutics has a 1-year low of $6.94 and a 1-year high of $22.00. The firm has a market cap of $363.90 million, a P/E ratio of -13.05 and a beta of 1.81.
Abeona Therapeutics (NASDAQ:ABEO) last issued its earnings results on Monday, November 12th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.11). Abeona Therapeutics had a negative return on equity of 27.69% and a negative net margin of 843.14%. The firm had revenue of $1.71 million during the quarter, compared to analyst estimates of $1.02 million. As a group, sell-side analysts forecast that Abeona Therapeutics will post -0.98 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. MetLife Investment Advisors LLC increased its holdings in shares of Abeona Therapeutics by 57.8% during the 2nd quarter. MetLife Investment Advisors LLC now owns 19,333 shares of the biopharmaceutical company’s stock valued at $309,000 after acquiring an additional 7,085 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in Abeona Therapeutics by 9.4% in the 3rd quarter. Allianz Asset Management GmbH now owns 110,649 shares of the biopharmaceutical company’s stock valued at $1,416,000 after buying an additional 9,465 shares during the last quarter. United Services Automobile Association acquired a new stake in Abeona Therapeutics in the 2nd quarter valued at approximately $162,000. Parkside Advisors LLC acquired a new stake in Abeona Therapeutics in the 3rd quarter valued at approximately $160,000. Finally, Trexquant Investment LP acquired a new stake in Abeona Therapeutics in the 3rd quarter valued at approximately $163,000. 72.32% of the stock is currently owned by institutional investors and hedge funds.
Abeona Therapeutics Company Profile
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.
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