Abeona Therapeutics’ (ABEO) “Buy” Rating Reaffirmed at Maxim Group
Abeona Therapeutics Inc. (NASDAQ:ABEO)‘s stock had its “buy” rating restated by equities researchers at Maxim Group in a research report issued to clients and investors on Tuesday. They presently have a $14.00 price objective on the biopharmaceutical company’s stock. Maxim Group’s price target indicates a potential upside of 105.88% from the company’s previous close.
ABEO has been the topic of several other reports. Cantor Fitzgerald reiterated a “buy” rating and issued a $21.00 price target on shares of Abeona Therapeutics in a research note on Friday, September 23rd. Zacks Investment Research lowered shares of Abeona Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, August 22nd. FBR & Co restated a “buy” rating and set a $15.00 target price on shares of Abeona Therapeutics in a research report on Friday, August 26th. Finally, Rodman & Renshaw restated a “buy” rating and set a $17.00 target price on shares of Abeona Therapeutics in a research report on Sunday, August 21st. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $14.50.
Shares of Abeona Therapeutics (NASDAQ:ABEO) traded up 12.9000% during midday trading on Tuesday, reaching $7.6772. 953,027 shares of the company traded hands. The stock’s market capitalization is $257.53 million. The stock’s 50-day moving average is $5.64 and its 200-day moving average is $3.58. Abeona Therapeutics has a 1-year low of $2.05 and a 1-year high of $7.75.
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Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings results on Tuesday, August 16th. The biopharmaceutical company reported ($0.20) EPS for the quarter, missing the Thomson Reuters’ 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%. Equities analysts predict that Abeona Therapeutics will post ($0.73) EPS for the current fiscal year.
In related news, Director Todd Wider purchased 5,000 shares of the firm’s 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 in the company, valued at $411,000. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 13.00% of the company’s stock.
Several large investors have recently modified their holdings of ABEO. Royce & Associates LP increased its stake 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. Geode Capital Management LLC increased 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 valued at $180,000 after buying an additional 10,082 shares in the last quarter. Finally, Sabby Management LLC increased its stake 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. 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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