Abeona Therapeutics (NASDAQ:ABEO)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research report issued to clients and investors on Friday. They presently have a $30.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price target indicates a potential upside of 251.29% from the company’s previous close.
The analysts wrote, “Valuation methodology, risks and uncertainties. We ascribe a total risk-adjusted net present value (rNPV) of $1.44B to Abeona’s technology platforms, which yields a price per share of $30.00 based on about 50M shares outstanding as of end-3Q 2019. We utilize an 85% probability of success for EB-101. Risks include, but are not limited to: (1) slower-than-anticipated clinical trial progress; (2) trial failures; (3) slower-than-projected timelines for drug approvals; and (4) poor uptake of the firm’s products once introduced.””
A number of other brokerages have also recently issued reports on ABEO. Zacks Investment Research cut shares of Abeona Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, November 16th. Cantor Fitzgerald restated a “buy” rating and set a $36.00 price objective on shares of Abeona Therapeutics in a report on Thursday. BidaskClub cut shares of Abeona Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, October 4th. Maxim Group restated a “buy” rating and set a $35.00 price objective on shares of Abeona Therapeutics in a report on Friday, August 10th. Finally, ValuEngine cut shares of Abeona Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 30th. Two investment analysts have rated the stock with a sell rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $26.78.
Shares of NASDAQ:ABEO traded up $0.39 during trading on Friday, hitting $8.54. 1,119,203 shares of the company’s stock were exchanged, compared to its average volume of 594,866. Abeona Therapeutics has a 1-year low of $6.94 and a 1-year high of $22.00. The stock has a market cap of $390.75 million, a price-to-earnings ratio of -12.94 and a beta of 1.81.
Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings results on Monday, November 12th. The biopharmaceutical company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.11). Abeona Therapeutics had a negative return on equity of 27.69% and a negative net margin of 843.14%. The business had revenue of $1.71 million for the quarter, compared to analyst estimates of $1.02 million. On average, sell-side analysts anticipate that Abeona Therapeutics will post -0.98 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC boosted its stake in Abeona Therapeutics by 1.4% in the third quarter. FMR LLC now owns 7,191,492 shares of the biopharmaceutical company’s stock worth $92,051,000 after buying an additional 97,185 shares in the last quarter. BlackRock Inc. lifted its position in Abeona Therapeutics by 1.6% in the third quarter. BlackRock Inc. now owns 2,220,116 shares of the biopharmaceutical company’s stock valued at $28,418,000 after purchasing an additional 35,610 shares during the last quarter. Vanguard Group Inc. lifted its position in Abeona Therapeutics by 7.6% in the third quarter. Vanguard Group Inc. now owns 1,539,008 shares of the biopharmaceutical company’s stock valued at $19,699,000 after purchasing an additional 108,333 shares during the last quarter. Millennium Management LLC lifted its position in Abeona Therapeutics by 5.3% in the second quarter. Millennium Management LLC now owns 964,839 shares of the biopharmaceutical company’s stock valued at $15,437,000 after purchasing an additional 48,583 shares during the last quarter. Finally, Nexthera Capital LP lifted its position in Abeona Therapeutics by 35.6% in the third quarter. Nexthera Capital LP now owns 849,979 shares of the biopharmaceutical company’s stock valued at $10,880,000 after purchasing an additional 223,175 shares during the last quarter. Institutional investors and hedge funds own 72.32% of the company’s stock.
About Abeona Therapeutics
Abeona Therapeutics Inc, a clinical-stage biopharmaceutical company, focuses on developing and delivering gene therapy products for severe and life-threatening rare diseases. The company's lead programs are EB-101 (gene-corrected skin grafts) for recessive dystrophic epidermolysis bullosa (RDEB); ABO-102, which are AAV based gene therapies for Sanfilippo syndrome type A; and ABO-101, an adeno-associated virus (AAV) based gene therapies for Sanfilippo syndrome type B.
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