Abeona Therapeutics Inc. (ABEO) Raised to Hold at Zacks Investment Research
Abeona Therapeutics Inc. (NASDAQ:ABEO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Abeona Therapeutics, Inc. is engaged in developing and delivering gene therapy and plasma-based products for rare diseases. Abeona Therapeutics Inc., formerly known as PlasmaTech Biopharmaceuticals, Inc., is based in Dallas, United States. “
ABEO has been the topic of several other research reports. Cantor Fitzgerald initiated coverage on Abeona Therapeutics in a research report on Wednesday, September 7th. They set a “buy” rating and a $21.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $17.00 target price on shares of Abeona Therapeutics in a research report on Thursday, October 6th. Maxim Group reissued a “buy” rating and issued a $14.00 price objective on shares of Abeona Therapeutics in a research report on Wednesday, October 12th. FBR & Co set a $15.00 price objective on Abeona Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, September 21st. Finally, Rodman & Renshaw reissued a “buy” rating and issued a $17.00 price objective on shares of Abeona Therapeutics in a research report on Sunday, August 21st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $14.50.
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Abeona Therapeutics (NASDAQ:ABEO) traded up 16.91% during mid-day trading on Tuesday, hitting $7.95. The stock had a trading volume of 2,652,879 shares. The company’s 50 day moving average is $5.70 and its 200-day moving average is $3.61. Abeona Therapeutics has a 52 week low of $2.05 and a 52 week high of $8.10. The stock’s market capitalization is $266.68 million.
Abeona Therapeutics (NASDAQ:ABEO) last announced its earnings results on Tuesday, August 16th. The biopharmaceutical company reported ($0.20) earnings per share (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%. On average, analysts expect that Abeona Therapeutics will post ($0.73) EPS for the current fiscal year.
In other news, Director Todd Wider bought 5,000 shares of the stock in a transaction on Tuesday, September 20th. The shares were purchased at an average cost of $5.48 per share, for a total transaction of $27,400.00. Following the completion of the purchase, the director now directly owns 75,000 shares in the company, valued at approximately $411,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 13.00% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the stock. Royce & Associates LP raised 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 during the last quarter. 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 worth $180,000 after buying an additional 10,082 shares during the last quarter. Finally, 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 worth $855,000 after buying an additional 34,108 shares during the last quarter. Hedge funds and other institutional investors own 19.95% of the company’s stock.
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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