Maxim Group Raises Abeona Therapeutics Inc. (ABEO) Price Target to $8.00
Abeona Therapeutics Inc. (NASDAQ:ABEO) had its price target raised by equities researchers at Maxim Group to $8.00 in a research note issued to investors on Wednesday. Maxim Group’s price target would suggest a potential upside of 21.77% from the stock’s previous close.
Several other equities research analysts have also recently weighed in on ABEO. Zacks Investment Research cut Abeona Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, May 24th. FBR & Co reiterated a “buy” rating on shares of Abeona Therapeutics in a report on Wednesday, June 22nd. Finally, Rodman & Renshaw reiterated a “buy” rating and issued a $17.00 price objective on shares of Abeona Therapeutics in a report on Friday, August 5th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $12.80.
Shares of Abeona Therapeutics (NASDAQ:ABEO) traded up 13.67% on Wednesday, hitting $6.57. The company had a trading volume of 1,361,335 shares. The firm’s 50 day moving average price is $4.28 and its 200-day moving average price is $3.09. The stock’s market capitalization is $220.39 million. Abeona Therapeutics has a 52 week low of $2.05 and a 52 week high of $6.74.
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Abeona Therapeutics (NASDAQ:ABEO) last released its quarterly earnings data on Tuesday, August 16th. The biopharmaceutical company reported ($0.20) earnings per share for the quarter, missing the 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%. Analysts forecast that Abeona Therapeutics will post ($0.73) earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Sabby Management LLC raised its position in shares of 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. Geode Capital Management LLC raised its position in shares of 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. Royce & Associates LP raised its position in shares of 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. Finally, BlackRock Fund Advisors raised its position in shares of Abeona Therapeutics by 8.5% in the first quarter. BlackRock Fund Advisors now owns 302,262 shares of the biopharmaceutical company’s stock valued at $774,000 after buying an additional 23,734 shares in the last quarter. 19.95% of the stock is owned by hedge funds and other institutional investors.
Abeona Therapeutics Company Profile
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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