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 research report issued to clients and investors 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 subject of a number of other reports. Cantor Fitzgerald restated a “buy” rating and issued a $21.00 price objective on shares of Abeona Therapeutics in a research report on Friday, September 23rd. Maxim Group restated a “buy” rating and issued a $14.00 price objective on shares of Abeona Therapeutics in a research report on Tuesday. FBR & Co reiterated a “buy” rating and set a $15.00 price target on shares of Abeona Therapeutics in a research report on Friday, August 26th. Finally, Rodman & Renshaw reiterated a “buy” rating and set a $17.00 price target on shares of Abeona Therapeutics in a research report on Sunday, August 21st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $14.50.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/18/abeona-therapeutics-inc-abeo-raised-to-hold-at-zacks-investment-research.html
Shares of Abeona Therapeutics (NASDAQ:ABEO) traded up 16.91% during mid-day trading on Tuesday, reaching $7.95. The company had a trading volume of 2,652,879 shares. The company’s market capitalization is $266.68 million. The stock’s 50-day moving average price is $5.70 and its 200 day moving average price is $3.61. Abeona Therapeutics has a 1-year low of $2.05 and a 1-year high of $8.10.
Abeona Therapeutics (NASDAQ:ABEO) last posted its quarterly earnings data on Tuesday, August 16th. The biopharmaceutical company reported ($0.20) EPS for the quarter, missing the Zacks’ 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 expect that Abeona Therapeutics will post ($0.73) EPS for the current year.
In related news, Director Todd Wider bought 5,000 shares of the company’s stock in a transaction on Tuesday, September 20th. The stock was bought at an average cost of $5.48 per share, for a total transaction of $27,400.00. Following the acquisition, the director now directly owns 75,000 shares in the company, valued at $411,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 13.00% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Royce & Associates LP boosted 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. 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 during the period. Finally, 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 during the period. 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Abeona Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abeona Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.