Abeona Therapeutics (ABEO) Receives “Buy” Rating from Maxim Group

Abeona Therapeutics (NASDAQ:ABEO)‘s stock had its “buy” rating reissued by stock analysts at Maxim Group in a research note issued on Wednesday. They presently have a $35.00 price objective on the biopharmaceutical company’s stock. Maxim Group’s price target indicates a potential upside of 92.31% from the stock’s current price.

The analysts wrote, “Abeona announced positive early data for ABO-101 in the first patient treated in the P1/2 trial for Sanfilippo Syndrome Type IIIB. As a reminder, this is the second gene therapy candidate targeting Sanfilippo Syndrome behind ABO-102, which has demonstrated positive data in 8 patients so far with Type IIIA disease. The difference between ABO-101 and ABO-102 is the replaced gene, same targeted pathway.””

A number of other equities research analysts have also weighed in on ABEO. Citigroup started coverage on Abeona Therapeutics in a research note on Tuesday, October 10th. They issued a “buy” rating and a $32.00 target price for the company. Cantor Fitzgerald boosted their target price on Abeona Therapeutics from $21.00 to $34.00 and gave the company an “overweight” rating in a research note on Wednesday, October 11th. HC Wainwright reissued a “buy” rating and issued a $30.00 target price (up previously from $20.00) on shares of Abeona Therapeutics in a research note on Monday, October 16th. SunTrust Banks started coverage on Abeona Therapeutics in a research note on Wednesday, November 8th. They issued a “buy” rating and a $26.00 target price for the company. Finally, Jefferies Group reissued a “buy” rating and issued a $28.00 target price on shares of Abeona Therapeutics in a research note on Wednesday, November 22nd. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Abeona Therapeutics has an average rating of “Buy” and an average target price of $26.40.

Abeona Therapeutics (NASDAQ ABEO) traded up $2.25 on Wednesday, hitting $18.20. The stock had a trading volume of 2,974,665 shares, compared to its average volume of 875,195. Abeona Therapeutics has a 1 year low of $4.55 and a 1 year high of $22.75. The stock has a market cap of $844.53, a PE ratio of -28.00 and a beta of 1.36.

Abeona Therapeutics (NASDAQ:ABEO) last posted its quarterly earnings data on Wednesday, November 15th. The biopharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $0.22 million. equities analysts anticipate that Abeona Therapeutics will post -0.6 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Swiss National Bank bought a new position in Abeona Therapeutics during the 4th quarter valued at approximately $794,000. California Public Employees Retirement System bought a new position in Abeona Therapeutics during the 4th quarter valued at approximately $557,000. Teacher Retirement System of Texas bought a new position in Abeona Therapeutics during the 4th quarter valued at approximately $163,000. SG Americas Securities LLC bought a new position in Abeona Therapeutics during the 4th quarter valued at approximately $218,000. Finally, Schwab Charles Investment Management Inc. raised its position in Abeona Therapeutics by 37.1% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 56,352 shares of the biopharmaceutical company’s stock valued at $894,000 after purchasing an additional 15,252 shares during the last quarter. 41.97% of the stock is owned by institutional investors and hedge funds.

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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).

Analyst Recommendations for Abeona Therapeutics (NASDAQ:ABEO)

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