Abeona Therapeutics Inc. (NASDAQ:ABEO)‘s stock had its “buy” rating reaffirmed by equities research analysts at Maxim Group in a report released on Tuesday. They currently have a $14.00 price target on the biopharmaceutical company’s stock. Maxim Group’s price objective points to a potential upside of 105.88% from the stock’s previous close.
A number of other analysts have also issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $17.00 price target on shares of Abeona Therapeutics in a research note on Thursday, October 6th. FBR & Co restated a “positive” rating and set a $15.00 target price on shares of Abeona Therapeutics in a research note on Wednesday, October 5th. Cantor Fitzgerald restated a “buy” rating and set a $21.00 target price on shares of Abeona Therapeutics in a research note on Friday, September 30th. Zacks Investment Research lowered shares of Abeona Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, September 12th. Finally, Rodman & Renshaw restated a “buy” rating and set a $17.00 target price on shares of Abeona Therapeutics in a research note on Sunday, August 21st. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Abeona Therapeutics presently has an average rating of “Buy” and a consensus price target of $14.50.
Abeona Therapeutics (NASDAQ:ABEO) traded up 12.721% during mid-day trading on Tuesday, hitting $7.665. 951,727 shares of the stock were exchanged. The firm’s market cap is $257.12 million. The company has a 50 day moving average of $5.64 and a 200 day moving average of $3.58. Abeona Therapeutics has a 12-month low of $2.05 and a 12-month high of $7.75.
Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings results on Tuesday, August 16th. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.14) by $0.06. Abeona Therapeutics had a negative return on equity of 30.84% and a negative net margin of 2,177.03%. On average, equities analysts anticipate that Abeona Therapeutics will post ($0.73) earnings per share for the current fiscal year.
In other Abeona Therapeutics news, Director Todd Wider purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, September 20th. The stock was purchased at an average cost of $5.48 per share, with a total value of $27,400.00. Following the completion of the acquisition, the director now directly owns 75,000 shares of the company’s stock, valued at approximately $411,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 13.00% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased 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 during the last quarter. Sabby Management LLC increased 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 during the last quarter. Finally, Royce & Associates LP increased 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 during the last quarter. 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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