Abeona Therapeutics Inc. (NASDAQ:ABEO)‘s stock had its “buy” rating reissued by research analysts at Maxim Group in a research note issued to investors on Wednesday. They currently have a $14.00 target price on the biopharmaceutical company’s stock. Maxim Group’s target price indicates a potential upside of 108.64% from the stock’s current price.
Several other research firms have also recently commented on ABEO. HC Wainwright restated a “buy” rating and issued a $17.00 target price on shares of Abeona Therapeutics in a research report on Thursday, October 6th. Cantor Fitzgerald restated a “buy” rating and issued a $21.00 target price on shares of Abeona Therapeutics in a research report on Friday, September 23rd. FBR & Co restated a “positive” rating and issued a $15.00 target price on shares of Abeona Therapeutics in a research report on Wednesday, October 5th. Finally, Zacks Investment Research lowered Abeona Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, September 12th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $14.50.
Abeona Therapeutics (NASDAQ:ABEO) opened at 6.71 on Wednesday. The stock has a 50 day moving average price of $5.50 and a 200-day moving average price of $3.51. The firm’s market capitalization is $225.09 million. Abeona Therapeutics has a 12-month low of $2.05 and a 12-month high of $7.19.
Abeona Therapeutics (NASDAQ:ABEO) last posted its earnings results on Tuesday, August 16th. The biopharmaceutical company reported ($0.20) 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%. On average, equities research analysts forecast that Abeona Therapeutics will post ($0.73) EPS for the current year.
In related news, Director Todd Wider acquired 5,000 shares of Abeona Therapeutics stock in a transaction dated Tuesday, September 20th. The stock was acquired at an average cost of $5.48 per share, with a total value of $27,400.00. Following the purchase, 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 can be accessed through the SEC website. Company insiders own 13.00% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in 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 in the last quarter. Sabby Management LLC raised its stake in 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 in the last quarter. Finally, Royce & Associates LP raised its stake in 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 in the last quarter. 19.95% of the stock is owned by institutional investors and hedge funds.
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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