REGENXBIO’s (RGNX) Buy Rating Reaffirmed at Stifel Nicolaus

REGENXBIO (NASDAQ:RGNX)‘s stock had its “buy” rating reissued by analysts at Stifel Nicolaus in a research note issued to investors on Friday, Benzinga reports. They currently have a $40.00 target price on the biotechnology company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 121.12% from the company’s previous close.

Several other research analysts also recently commented on the company. Wedbush reissued a “neutral” rating and set a $21.00 target price on shares of REGENXBIO in a research note on Wednesday, February 28th. Barclays increased their price objective on shares of REGENXBIO from $45.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. SVB Leerink raised shares of REGENXBIO from a “market perform” rating to an “outperform” rating and set a $37.00 target price on the stock in a research note on Wednesday, March 6th. Raymond James reiterated an “outperform” rating and set a $45.00 price target on shares of REGENXBIO in a report on Wednesday, February 21st. Finally, Robert W. Baird raised their price objective on REGENXBIO from $34.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, REGENXBIO has an average rating of “Moderate Buy” and an average target price of $38.45.

REGENXBIO Price Performance

Shares of NASDAQ:RGNX opened at $18.09 on Friday. REGENXBIO has a 1 year low of $11.83 and a 1 year high of $28.80. The stock has a market capitalization of $887.13 million, a price-to-earnings ratio of -3.00 and a beta of 1.29. The company’s 50 day simple moving average is $19.78 and its 200 day simple moving average is $17.85.

REGENXBIO (NASDAQ:RGNX) last issued its quarterly earnings results on Tuesday, February 27th. The biotechnology company reported ($1.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.27) by ($0.16). REGENXBIO had a negative net margin of 291.99% and a negative return on equity of 68.18%. The business had revenue of $22.30 million during the quarter, compared to the consensus estimate of $34.01 million. During the same quarter in the previous year, the business posted ($1.38) EPS. The company’s revenue for the quarter was down 28.8% on a year-over-year basis. As a group, analysts anticipate that REGENXBIO will post -3.98 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Kenneth T. Mills sold 45,000 shares of REGENXBIO stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $15.18, for a total value of $683,100.00. Following the transaction, the chief executive officer now directly owns 408,035 shares of the company’s stock, valued at $6,193,971.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Kenneth T. Mills sold 45,000 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $15.18, for a total value of $683,100.00. Following the transaction, the chief executive officer now owns 408,035 shares in the company, valued at $6,193,971.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Kenneth T. Mills sold 15,000 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $16.76, for a total transaction of $251,400.00. Following the sale, the chief executive officer now directly owns 408,035 shares in the company, valued at approximately $6,838,666.60. The disclosure for this sale can be found here. Insiders sold a total of 87,878 shares of company stock valued at $1,627,620 in the last three months. Insiders own 12.70% of the company’s stock.

Institutional Investors Weigh In On REGENXBIO

Hedge funds have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. bought a new position in shares of REGENXBIO during the 4th quarter worth approximately $1,915,000. Raymond James & Associates boosted its stake in REGENXBIO by 405.3% during the third quarter. Raymond James & Associates now owns 100,620 shares of the biotechnology company’s stock worth $1,656,000 after acquiring an additional 80,706 shares in the last quarter. Swiss National Bank grew its holdings in REGENXBIO by 6.8% in the third quarter. Swiss National Bank now owns 86,000 shares of the biotechnology company’s stock worth $1,416,000 after purchasing an additional 5,500 shares during the period. Hudson Bay Capital Management LP increased its stake in REGENXBIO by 35.3% in the third quarter. Hudson Bay Capital Management LP now owns 115,000 shares of the biotechnology company’s stock valued at $1,893,000 after purchasing an additional 30,000 shares in the last quarter. Finally, Trexquant Investment LP raised its holdings in shares of REGENXBIO by 552.3% during the third quarter. Trexquant Investment LP now owns 85,913 shares of the biotechnology company’s stock valued at $1,414,000 after purchasing an additional 72,742 shares during the period. 88.08% of the stock is currently owned by institutional investors.

About REGENXBIO

REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapies that deliver functional genes to cells with genetic defects in the United States. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus gene delivery platform. The company's products in pipeline includes ABBV-RGX-314 for the treatment of wet age-related macular degeneration, diabetic retinopathy, and other chronic retinal diseases; and RGX-202, which is in Phase I/II clinical trial for the treatment of Duchenne muscular dystrophy.