Abeona Therapeutics Inc. (NASDAQ:ABEO) shares gapped up prior to trading on Wednesday after Cantor Fitzgerald raised their price target on the stock from $21.00 to $34.00. The stock had previously closed at $21.90, but opened at $19.95. Cantor Fitzgerald currently has an overweight rating on the stock. Abeona Therapeutics shares last traded at $19.40, with a volume of 1,823,352 shares.
ABEO has been the subject of several other research reports. Zacks Investment Research cut Abeona Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. HC Wainwright reiterated a “buy” rating and issued a $20.00 price objective on shares of Abeona Therapeutics in a research report on Monday. Royal Bank Of Canada started coverage on Abeona Therapeutics in a research report on Thursday, September 14th. They issued an “outperform” rating and a $23.00 price objective for the company. Maxim Group set a $17.00 price objective on Abeona Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, August 29th. Finally, BidaskClub upgraded Abeona Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $21.44.
Several hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC increased its position in shares of Abeona Therapeutics by 2.4% in the first quarter. Geode Capital Management LLC now owns 196,073 shares of the biopharmaceutical company’s stock valued at $980,000 after buying an additional 4,588 shares in the last quarter. Ardsley Advisory Partners increased its position in shares of Abeona Therapeutics by 33.3% in the second quarter. Ardsley Advisory Partners now owns 60,000 shares of the biopharmaceutical company’s stock valued at $383,000 after buying an additional 15,000 shares in the last quarter. State of Wisconsin Investment Board purchased a new position in shares of Abeona Therapeutics in the second quarter valued at $122,000. Bank of New York Mellon Corp increased its position in shares of Abeona Therapeutics by 125.8% in the first quarter. Bank of New York Mellon Corp now owns 41,929 shares of the biopharmaceutical company’s stock valued at $210,000 after buying an additional 23,358 shares in the last quarter. Finally, Family Management Corp purchased a new position in shares of Abeona Therapeutics in the first quarter valued at $120,000. Institutional investors and hedge funds own 38.38% of the company’s stock.
The stock’s market capitalization is $707.04 million. The firm’s 50-day moving average price is $15.16 and its 200 day moving average price is $8.64.
Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings data on Tuesday, August 15th. The biopharmaceutical company reported ($0.21) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.07). The firm had revenue of $0.22 million during the quarter, compared to analyst estimates of $0.21 million. Abeona Therapeutics had a negative net margin of 2,746.38% and a negative return on equity of 26.66%. On average, equities analysts forecast that Abeona Therapeutics Inc. will post ($0.70) EPS for the current year.
Abeona Therapeutics Company Profile
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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