Abeona Therapeutics Inc. (ABEO) Releases Earnings Results, Misses Expectations By $0.07 EPS
Abeona Therapeutics Inc. (NASDAQ:ABEO) posted its earnings results on Tuesday. The biopharmaceutical company reported ($0.21) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.14) by $0.07, Bloomberg Earnings reports. The firm had revenue of $0.22 million for the quarter, compared to analysts’ expectations of $0.21 million. Abeona Therapeutics had a negative return on equity of 26.99% and a negative net margin of 2,568.57%.
Abeona Therapeutics (ABEO) traded up 1.23% during trading on Wednesday, hitting $8.20. 78,473 shares of the stock traded hands. Abeona Therapeutics has a 12 month low of $3.90 and a 12 month high of $10.26. The firm’s market cap is $330.09 million. The firm has a 50-day moving average price of $8.18 and a 200 day moving average price of $6.02.
An institutional investor recently bought a new position in Abeona Therapeutics stock. California State Teachers Retirement System purchased a new stake in Abeona Therapeutics Inc. (NASDAQ:ABEO) during the second quarter, according to its most recent filing with the SEC. The fund purchased 42,900 shares of the biopharmaceutical company’s stock, valued at approximately $275,000. California State Teachers Retirement System owned about 0.11% of Abeona Therapeutics as of its most recent SEC filing. Hedge funds and other institutional investors own 36.15% of the company’s stock.
A number of analysts have recently weighed in on the stock. Maxim Group set a $14.00 target price on shares of Abeona Therapeutics and gave the stock a “buy” rating in a report on Saturday, May 13th. Cantor Fitzgerald restated a “buy” rating and issued a $21.00 price objective on shares of Abeona Therapeutics in a report on Tuesday, June 6th. HC Wainwright set a $20.00 price objective on shares of Abeona Therapeutics and gave the stock a “buy” rating in a report on Wednesday, July 19th. BidaskClub lowered shares of Abeona Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th. Finally, Zacks Investment Research upgraded shares of Abeona Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, June 9th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $17.86.
Abeona Therapeutics Company Profile
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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