Abeona Therapeutics Inc (ABEO) Given Consensus Recommendation of “Buy” by Brokerages
Abeona Therapeutics Inc (NASDAQ:ABEO) has received an average recommendation of “Buy” from the twelve brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $28.50.
Several analysts have issued reports on ABEO shares. Zacks Investment Research upgraded Abeona Therapeutics from a “sell” rating to a “buy” rating and set a $18.00 target price on the stock in a research note on Wednesday, November 22nd. SunTrust Banks assumed coverage on Abeona Therapeutics in a research report on Wednesday, November 8th. They issued a “buy” rating and a $26.00 price target for the company. Maxim Group set a $35.00 price target on Abeona Therapeutics and gave the company a “buy” rating in a research report on Monday, November 20th. Cantor Fitzgerald reiterated a “buy” rating and issued a $21.00 price target on shares of Abeona Therapeutics in a research report on Friday, October 6th. Finally, HC Wainwright set a $30.00 price target on Abeona Therapeutics and gave the company a “buy” rating in a research report on Thursday, January 4th.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Abeona Therapeutics by 11.2% in the second 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 in the last quarter. State Street Corp purchased a new position in Abeona Therapeutics during the second quarter worth about $1,900,000. Northern Trust Corp grew its position in Abeona Therapeutics by 406.3% during the second quarter. Northern Trust Corp now owns 257,668 shares of the biopharmaceutical company’s stock worth $1,649,000 after buying an additional 206,775 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Abeona Therapeutics during the third quarter worth about $3,527,000. Finally, EAM Investors LLC purchased a new position in Abeona Therapeutics during the third quarter worth about $2,509,000. Institutional investors own 41.95% of the company’s stock.
Abeona Therapeutics (NASDAQ:ABEO) last issued its earnings results on Wednesday, November 15th. The biopharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.05. The firm had revenue of $0.22 million for the quarter, compared to analyst estimates of $0.22 million. Abeona Therapeutics had a negative return on equity of 27.69% and a negative net margin of 2,946.58%. equities analysts forecast that Abeona Therapeutics will post -0.6 earnings per share for the current fiscal year.
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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