HC Wainwright Reiterates “Buy” Rating for Abeona Therapeutics (NASDAQ:ABEO)

Abeona Therapeutics (NASDAQ:ABEO)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a note issued to investors on Thursday,Benzinga reports. They currently have a $20.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price objective would indicate a potential upside of 349.44% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Oppenheimer restated an “outperform” rating on shares of Abeona Therapeutics in a research report on Monday, March 9th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Abeona Therapeutics in a research report on Wednesday, January 21st. Finally, Stifel Nicolaus set a $17.00 target price on shares of Abeona Therapeutics in a research note on Tuesday. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

Abeona Therapeutics Trading Down 2.0%

Shares of ABEO stock opened at $4.45 on Thursday. Abeona Therapeutics has a 1-year low of $3.93 and a 1-year high of $7.54. The company has a current ratio of 6.93, a quick ratio of 9.53 and a debt-to-equity ratio of 0.05. The stock has a market cap of $253.87 million, a price-to-earnings ratio of 4.32 and a beta of 1.13. The stock has a 50-day moving average of $5.07 and a 200-day moving average of $5.21.

Abeona Therapeutics (NASDAQ:ABEO) last posted its quarterly earnings data on Tuesday, March 17th. The biopharmaceutical company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.01. The company had revenue of $3.00 million during the quarter, compared to analyst estimates of $5.65 million. On average, equities research analysts forecast that Abeona Therapeutics will post -1.16 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Leila Alland sold 18,065 shares of Abeona Therapeutics stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $5.09, for a total value of $91,950.85. Following the completion of the sale, the director owned 173,614 shares in the company, valued at $883,695.26. The trade was a 9.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Madhav Vasanthavada sold 12,610 shares of Abeona Therapeutics stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $5.29, for a total transaction of $66,706.90. Following the completion of the sale, the insider owned 318,619 shares of the company’s stock, valued at $1,685,494.51. This represents a 3.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 209,605 shares of company stock valued at $1,101,300 in the last 90 days. Company insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On Abeona Therapeutics

A number of large investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. bought a new stake in Abeona Therapeutics in the second quarter valued at $25,000. Legal & General Group Plc bought a new position in shares of Abeona Therapeutics during the 2nd quarter worth about $27,000. Russell Investments Group Ltd. acquired a new stake in shares of Abeona Therapeutics in the 3rd quarter valued at about $37,000. Truvestments Capital LLC grew its stake in shares of Abeona Therapeutics by 191.4% in the 4th quarter. Truvestments Capital LLC now owns 10,307 shares of the biopharmaceutical company’s stock valued at $54,000 after buying an additional 6,770 shares during the period. Finally, Legato Capital Management LLC bought a new stake in Abeona Therapeutics in the 3rd quarter valued at about $57,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Abeona Therapeutics Company Profile

Abeona Therapeutics is a clinical‐stage biopharmaceutical company focused on the development and commercialization of gene and cell therapies for severe, life‐threatening rare diseases and oncology indications. Founded in 2014 and headquartered in Cleveland, Ohio, Abeona leverages proprietary viral and non‐viral delivery platforms to correct or compensate for underlying genetic deficiencies. The company’s research efforts target pediatric neurodegenerative disorders as well as debilitating dermatologic conditions with high unmet medical need.

The company’s lead clinical programs include separate AAV‐based gene therapies for CLN1 and CLN3 forms of neuronal ceroid lipofuscinosis, alongside an ex vivo autologous cell therapy for recessive dystrophic epidermolysis bullosa.