Abeona Therapeutics Inc. (ABEO) Receives “Buy” Rating from Maxim Group
Abeona Therapeutics Inc. (NASDAQ:ABEO)‘s stock had its “buy” rating reiterated by equities research analysts at Maxim Group in a report issued on Wednesday. They presently have a $14.00 target price on the biopharmaceutical company’s stock. Maxim Group’s price target suggests a potential upside of 112.44% from the stock’s current price.
Other analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Abeona Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, June 15th. FBR & Co set a $15.00 price target on shares of Abeona Therapeutics and gave the stock a “buy” rating in a research report on Thursday, August 18th. 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 five have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $14.50.
Shares of Abeona Therapeutics (NASDAQ:ABEO) traded down 0.91% during trading on Wednesday, hitting $6.53. The company’s stock had a trading volume of 81,254 shares. The company’s market cap is $219.05 million. The firm’s 50 day moving average price is $5.36 and its 200-day moving average price is $3.47. Abeona Therapeutics has a 52 week low of $2.05 and a 52 week high of $7.19.
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Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings results on Tuesday, August 16th. The biopharmaceutical company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates 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, analysts predict that Abeona Therapeutics will post ($0.73) earnings per share for the current year.
In related news, Director Todd Wider bought 5,000 shares of the business’s stock in a transaction dated Tuesday, September 20th. The shares were acquired at an average price of $5.48 per share, for a total transaction of $27,400.00. Following the purchase, the director now owns 75,000 shares in the company, valued at approximately $411,000. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 13.00% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its stake 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 worth $180,000 after buying an additional 10,082 shares during the period. 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 during the period. 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 during the period. Institutional investors and hedge funds own 19.95% of the company’s stock.
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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