Abeona Therapeutics Inc. (ABEO) Raised to Buy at BidaskClub
Abeona Therapeutics Inc. (NASDAQ:ABEO) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.
Several other research firms have also recently weighed in on ABEO. Jefferies Group LLC reissued a “buy” rating and set a $11.00 price objective on shares of Abeona Therapeutics in a report on Thursday, June 1st. FBR & Co reissued a “buy” rating on shares of Abeona Therapeutics in a report on Friday, March 10th. Cantor Fitzgerald reissued a “buy” rating and set a $21.00 price objective on shares of Abeona Therapeutics in a report on Friday, May 12th. Maxim Group set a $14.00 price objective on shares of Abeona Therapeutics and gave the company a “buy” rating in a report on Thursday, May 25th. Finally, Zacks Investment Research raised shares of Abeona Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, June 9th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $16.75.
Abeona Therapeutics (NASDAQ:ABEO) traded up 5.70% during midday trading on Thursday, hitting $8.35. 754,513 shares of the company were exchanged. Abeona Therapeutics has a 1-year low of $2.31 and a 1-year high of $9.44. The stock has a 50 day moving average of $5.54 and a 200 day moving average of $5.24. The firm’s market capitalization is $336.13 million.
Abeona Therapeutics (NASDAQ:ABEO) last released its quarterly earnings data on Thursday, May 18th. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.02. Abeona Therapeutics had a negative net margin of 2,568.57% and a negative return on equity of 26.99%. The firm had revenue of $0.19 million during the quarter, compared to analysts’ expectations of $0.28 million. On average, equities analysts predict that Abeona Therapeutics will post ($0.56) earnings per share for the current fiscal year.
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A number of hedge funds have recently made changes to their positions in ABEO. Allianz Asset Management AG acquired a new stake in shares of Abeona Therapeutics during the fourth quarter worth approximately $236,000. A.R.T. Advisors LLC acquired a new stake in shares of Abeona Therapeutics during the fourth quarter worth approximately $117,000. Tudor Investment Corp Et Al acquired a new stake in shares of Abeona Therapeutics during the fourth quarter worth approximately $162,000. Highbridge Capital Management LLC boosted its stake in shares of Abeona Therapeutics by 108.1% in the fourth quarter. Highbridge Capital Management LLC now owns 551,800 shares of the biopharmaceutical company’s stock worth $2,676,000 after buying an additional 286,657 shares in the last quarter. Finally, Hikari Power Ltd acquired a new stake in shares of Abeona Therapeutics during the first quarter worth approximately $150,000. 35.84% of the stock is owned by institutional investors and hedge funds.
About Abeona Therapeutics
Abeona Therapeutics Inc is a clinical-stage biopharmaceutical company developing novel gene therapies for life-threatening rare genetic diseases. The Company’s lead programs include ABO-102 (AAV-SGSH), an adeno-associated virus (AAV) based gene therapy for Sanfilippo syndrome type A (MPS IIIA) and EB-101 (gene-corrected skin grafts) for recessive dystrophic epidermolysis bullosa (RDEB).
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