Abeona Therapeutics Inc. (ABEO) Stock Rating Lowered by Zacks Investment Research
Abeona Therapeutics Inc. (NASDAQ:ABEO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.
According to Zacks, “Abeona Therapeutics, Inc. is engaged in developing and delivering gene therapy and plasma-based products for rare diseases. Abeona Therapeutics Inc., formerly known as PlasmaTech Biopharmaceuticals, Inc., is based in Dallas, United States. “
ABEO has been the subject of a number of other reports. Maxim Group set a $17.00 price target on Abeona Therapeutics and gave the stock a “buy” rating in a report on Wednesday, August 16th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $28.00 price target on shares of Abeona Therapeutics in a report on Wednesday. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target (up from $20.00) on shares of Abeona Therapeutics in a report on Monday, October 16th. Citigroup Inc. started coverage on Abeona Therapeutics in a research note on Tuesday, October 10th. They set a “buy” rating and a $32.00 price objective for the company. Finally, Cantor Fitzgerald lifted their price objective on Abeona Therapeutics from $21.00 to $34.00 and gave the company an “overweight” rating in a research note on Wednesday, October 11th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $26.10.
Abeona Therapeutics (NASDAQ:ABEO) last posted its quarterly earnings results on Wednesday, November 15th. The biopharmaceutical company reported ($0.13) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.05. Abeona Therapeutics had a negative return on equity of 27.69% and a negative net margin of 2,946.58%. The firm had revenue of $0.22 million during the quarter, compared to analyst estimates of $0.22 million. equities analysts predict that Abeona Therapeutics will post -0.66 EPS for the current fiscal year.
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Large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its stake in Abeona Therapeutics by 138.5% during the second quarter. Bank of New York Mellon Corp now owns 99,996 shares of the biopharmaceutical company’s stock valued at $640,000 after buying an additional 58,067 shares during the period. Schwab Charles Investment Management Inc. bought a new stake in Abeona Therapeutics during the second quarter worth about $264,000. Goldman Sachs Group Inc. lifted its stake in Abeona Therapeutics by 869.7% during the first quarter. Goldman Sachs Group Inc. now owns 116,000 shares of the biopharmaceutical company’s stock worth $580,000 after purchasing an additional 104,038 shares during the last quarter. Ardsley Advisory Partners lifted its stake in Abeona Therapeutics by 33.3% during the second quarter. Ardsley Advisory Partners now owns 60,000 shares of the biopharmaceutical company’s stock worth $383,000 after purchasing an additional 15,000 shares during the last quarter. Finally, Teachers Advisors LLC bought a new stake in Abeona Therapeutics during the second quarter worth about $284,000. 36.34% of the stock is owned by institutional investors.
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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