Analysts forecast that Abeona Therapeutics Inc. (NASDAQ:ABEO) will post ($0.12) earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Abeona Therapeutics’ earnings, with estimates ranging from ($0.13) to ($0.12). Abeona Therapeutics posted earnings per share of ($0.20) during the same quarter last year, which suggests a positive year-over-year growth rate of 40%. The business is expected to report its next earnings results on Tuesday, August 15th.
On average, analysts expect that Abeona Therapeutics will report full year earnings of ($0.53) per share for the current financial year, with EPS estimates ranging from ($0.62) to ($0.44). For the next year, analysts anticipate that the business will post earnings of ($0.23) per share, with EPS estimates ranging from ($0.76) to $0.86. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover Abeona Therapeutics.
Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings results on Thursday, May 18th. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. Abeona Therapeutics had a negative net margin of 2,568.57% and a negative return on equity of 26.99%. The firm had revenue of $0.19 million during the quarter, compared to analysts’ expectations of $0.28 million.
A number of research analysts have recently weighed in on the stock. BidaskClub downgraded shares of Abeona Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Thursday. HC Wainwright set a $20.00 price target on shares of Abeona Therapeutics and gave the company a “buy” rating in a report on Wednesday, July 19th. Cantor Fitzgerald set a $21.00 price target on shares of Abeona Therapeutics and gave the company a “buy” rating in a report on Tuesday, July 18th. Maxim Group restated a “buy” rating and set a $17.00 price target (up previously from $14.00) on shares of Abeona Therapeutics in a report on Tuesday, July 18th. Finally, Zacks Investment Research upgraded shares of Abeona Therapeutics from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Tuesday, July 11th. Eight investment analysts have rated the stock with a buy rating, Abeona Therapeutics currently has an average rating of “Buy” and an average price target of $17.86.
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Shares of Abeona Therapeutics (ABEO) traded up 4.17% during mid-day trading on Monday, reaching $8.75. 593,603 shares of the company were exchanged. The firm’s 50-day moving average is $7.25 and its 200-day moving average is $5.78. The company’s market capitalization is $352.23 million. Abeona Therapeutics has a 12 month low of $2.70 and a 12 month high of $10.26.
A number of hedge funds and other institutional investors have recently made changes to their positions in ABEO. Highbridge Capital Management LLC increased its position in shares of Abeona Therapeutics by 108.1% in the fourth quarter. Highbridge Capital Management LLC now owns 551,800 shares of the biopharmaceutical company’s stock valued at $2,676,000 after buying an additional 286,657 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Abeona Therapeutics by 869.7% in the first quarter. Goldman Sachs Group Inc. now owns 116,000 shares of the biopharmaceutical company’s stock valued at $580,000 after buying an additional 104,038 shares during the period. Essex Investment Management Co. LLC purchased a new position in shares of Abeona Therapeutics during the second quarter valued at approximately $594,000. Laurion Capital Management LP purchased a new position in shares of Abeona Therapeutics during the first quarter valued at approximately $277,000. Finally, Allianz Asset Management AG purchased a new position in shares of Abeona Therapeutics during the fourth quarter valued at approximately $236,000. Hedge funds and other institutional investors own 35.64% of the company’s stock.
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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