$230,000.00 in Sales Expected for Abeona Therapeutics Inc. (ABEO) This Quarter
Brokerages predict that Abeona Therapeutics Inc. (NASDAQ:ABEO) will announce sales of $230,000.00 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Abeona Therapeutics’ earnings, with the lowest sales estimate coming in at $200,000.00 and the highest estimate coming in at $250,000.00. Abeona Therapeutics reported sales of $180,000.00 during the same quarter last year, which indicates a positive year-over-year growth rate of 27.8%. The company is expected to announce its next quarterly earnings report on Monday, November 13th.
On average, analysts expect that Abeona Therapeutics will report full-year sales of $230,000.00 for the current fiscal year, with estimates ranging from $800,000.00 to $930,000.00. For the next fiscal year, analysts anticipate that the business will report sales of $1.26 million per share, with estimates ranging from $800,000.00 to $1.72 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Abeona Therapeutics.
Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings results on Tuesday, August 15th. The biopharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.07). The business had revenue of $0.22 million during the quarter, compared to analyst estimates of $0.21 million. Abeona Therapeutics had a negative net margin of 2,746.38% and a negative return on equity of 26.66%.
A number of analysts recently issued reports on the stock. HC Wainwright restated a “buy” rating and set a $30.00 price objective (up previously from $20.00) on shares of Abeona Therapeutics in a report on Monday, October 16th. Cantor Fitzgerald lifted their target price on shares of Abeona Therapeutics from $21.00 to $34.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 11th. Citigroup Inc. began coverage on shares of Abeona Therapeutics in a research report on Tuesday, October 10th. They issued a “buy” rating and a $32.00 price objective for the company. Royal Bank Of Canada began coverage on shares of Abeona Therapeutics in a research report on Thursday, September 14th. They issued an “outperform” rating and a $23.00 price objective for the company. Finally, Maxim Group set a $17.00 price objective on shares of Abeona Therapeutics and gave the company a “buy” rating in a research report on Tuesday, August 29th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $22.56.
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Abeona Therapeutics (ABEO) opened at 17.40 on Friday. The stock’s 50 day moving average is $16.55 and its 200 day moving average is $9.48. The firm’s market capitalization is $700.99 million. Abeona Therapeutics has a 1-year low of $4.05 and a 1-year high of $22.75.
Several large investors have recently modified their holdings of ABEO. State of Wisconsin Investment Board bought a new position in shares of Abeona Therapeutics in the 2nd quarter worth approximately $122,000. Rhumbline Advisers purchased a new stake in Abeona Therapeutics in the 2nd quarter worth approximately $190,000. Bank of New York Mellon Corp increased its holdings in Abeona Therapeutics by 125.8% in the 1st quarter. Bank of New York Mellon Corp now owns 41,929 shares of the biopharmaceutical company’s stock worth $210,000 after acquiring an additional 23,358 shares in the last quarter. Schwab Charles Investment Management Inc. purchased a new stake in Abeona Therapeutics in the 2nd quarter worth approximately $264,000. Finally, California State Teachers Retirement System purchased a new stake in Abeona Therapeutics in the 2nd quarter worth approximately $275,000. Hedge funds and other institutional investors own 34.15% of the company’s stock.
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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