Analysts Expect Abeona Therapeutics Inc. (ABEO) Will Post Quarterly Sales of $230,000.00
Wall Street brokerages expect that Abeona Therapeutics Inc. (NASDAQ:ABEO) will report sales of $230,000.00 for the current quarter, Zacks reports. Two analysts have made estimates for Abeona Therapeutics’ earnings, with the highest sales estimate coming in at $250,000.00 and the lowest estimate coming in at $200,000.00. Abeona Therapeutics reported sales of $180,000.00 in the same quarter last year, which would suggest a positive year over year growth rate of 27.8%. The company is expected to report its next earnings results on Monday, November 13th.
On average, analysts expect that Abeona Therapeutics will report full year sales of $230,000.00 for the current year, with estimates ranging from $800,000.00 to $930,000.00. For the next financial year, analysts forecast that the company will report sales of $1.26 million per share, with estimates ranging from $800,000.00 to $1.72 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Abeona Therapeutics.
Abeona Therapeutics (NASDAQ:ABEO) last released its quarterly earnings results on Tuesday, August 15th. The biopharmaceutical company reported ($0.21) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.07). Abeona Therapeutics had a negative return on equity of 26.66% and a negative net margin of 2,746.38%. The company had revenue of $0.22 million during the quarter, compared to analysts’ expectations of $0.21 million.
ABEO has been the topic of a number of recent research reports. Maxim Group set a $14.00 target price on Abeona Therapeutics and gave the company a “buy” rating in a research report on Thursday, May 25th. FBR & Co restated a “buy” rating on shares of Abeona Therapeutics in a research report on Friday, May 26th. Jefferies Group LLC restated a “buy” rating and issued a $11.00 price objective on shares of Abeona Therapeutics in a research report on Thursday, June 1st. Cantor Fitzgerald restated a “buy” rating and issued a $21.00 price objective on shares of Abeona Therapeutics in a research report on Tuesday, June 6th. Finally, Zacks Investment Research upgraded Abeona Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $18.50.
Abeona Therapeutics (NASDAQ ABEO) opened at 16.50 on Tuesday. The firm has a 50-day moving average of $10.50 and a 200-day moving average of $7.13. Abeona Therapeutics has a 1-year low of $4.05 and a 1-year high of $17.90. The stock’s market cap is $664.74 million.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Abeona Therapeutics by 11.2% in the 2nd quarter. Vanguard Group Inc. now owns 1,081,670 shares of the biopharmaceutical company’s stock valued at $6,922,000 after purchasing an additional 108,730 shares during the last quarter. Highbridge Capital Management LLC raised its stake in Abeona Therapeutics by 23.5% in the 1st quarter. Highbridge Capital Management LLC now owns 681,611 shares of the biopharmaceutical company’s stock valued at $3,408,000 after purchasing an additional 129,811 shares during the last quarter. State Street Corp acquired a new position in Abeona Therapeutics in the 2nd quarter valued at $1,900,000. Northern Trust Corp raised its stake in Abeona Therapeutics by 406.3% in the 2nd quarter. Northern Trust Corp now owns 257,668 shares of the biopharmaceutical company’s stock valued at $1,649,000 after purchasing an additional 206,775 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Abeona Therapeutics by 17.4% in the 1st quarter. Wellington Management Group LLP now owns 204,590 shares of the biopharmaceutical company’s stock valued at $1,023,000 after purchasing an additional 30,300 shares during the last quarter. 38.24% of the stock is owned by hedge funds and other institutional investors.
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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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