Cantor Fitzgerald Increases Abeona Therapeutics Inc. (ABEO) Price Target to $34.00
Abeona Therapeutics Inc. (NASDAQ:ABEO) had its target price raised by analysts at Cantor Fitzgerald from $21.00 to $34.00 in a research report issued to clients and investors on Wednesday. The firm presently has an “overweight” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 70.43% from the stock’s previous close.
A number of other research analysts have also recently issued reports on ABEO. Jefferies Group LLC restated a “buy” rating and issued a $22.00 target price on shares of Abeona Therapeutics in a research report on Thursday, June 22nd. BidaskClub upgraded shares of Abeona Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Zacks Investment Research upgraded shares of Abeona Therapeutics from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Tuesday, July 11th. Maxim Group restated a “buy” rating and issued a $17.00 target price (up previously from $14.00) on shares of Abeona Therapeutics in a research report on Tuesday, July 18th. Finally, HC Wainwright set a $20.00 target price on shares of Abeona Therapeutics and gave the company a “buy” rating in a research report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $21.44.
Abeona Therapeutics (ABEO) traded down 2.882% during trading on Wednesday, reaching $19.375. The company had a trading volume of 3,043,598 shares. The firm’s market capitalization is $780.56 million. The stock has a 50 day moving average price of $14.58 and a 200 day moving average price of $8.49. Abeona Therapeutics has a 12 month low of $4.05 and a 12 month high of $22.75.
Abeona Therapeutics (NASDAQ:ABEO) last announced its earnings results on Tuesday, August 15th. The biopharmaceutical company reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $0.22 million for the quarter, compared to the consensus estimate of $0.21 million. On average, equities research analysts predict that Abeona Therapeutics will post ($0.68) earnings per share for the current year.
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Hedge funds have recently added to or reduced their stakes in the stock. Family Management Corp bought a new stake in Abeona Therapeutics in the first quarter valued at $120,000. State of Wisconsin Investment Board bought a new stake in Abeona Therapeutics in the second quarter valued at $122,000. Rhumbline Advisers bought a new stake in Abeona Therapeutics in the second quarter valued at $190,000. Bank of New York Mellon Corp increased its stake in Abeona Therapeutics by 125.8% in the first quarter. Bank of New York Mellon Corp now owns 41,929 shares of the biopharmaceutical company’s stock valued at $210,000 after purchasing an additional 23,358 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. bought a new stake in Abeona Therapeutics in the second quarter valued at $264,000. Institutional investors and hedge funds own 38.38% of the company’s stock.
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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