HC Wainwright reaffirmed their buy rating on shares of Abeona Therapeutics (NASDAQ:ABEO) in a research report released on Thursday, September 13th. The firm currently has a $30.00 price objective on the biopharmaceutical company’s stock.
“Valuation methodology, risks and uncertainties. We ascribe a total risk-adjusted net present value (rNPV) of $1.46B to Abeona’s technology platforms, which yields a price per share of $30.00 based on about 50M shares outstanding as of end-2Q 2019. We utilize an 85% probability of success for EB-101.”,” the firm’s analyst commented.
Several other research firms also recently commented on ABEO. SunTrust Banks dropped their target price on Abeona Therapeutics to $23.00 and set a positive rating for the company in a research report on Wednesday, May 16th. Cantor Fitzgerald reissued a buy rating and issued a $36.00 price target on shares of Abeona Therapeutics in a research note on Wednesday, May 16th. ValuEngine raised Abeona Therapeutics from a hold rating to a buy rating in a research note on Friday, June 1st. BidaskClub raised Abeona Therapeutics from a hold rating to a buy rating in a research note on Thursday, June 28th. Finally, B. Riley started coverage on Abeona Therapeutics in a research note on Wednesday, June 27th. They issued a buy rating and a $26.00 price target for the company. Two equities research analysts have rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $28.30.
Shares of ABEO stock traded down $0.43 on Thursday, hitting $11.11. 631,200 shares of the company’s stock were exchanged, compared to its average volume of 888,110. The company has a market cap of $613.67 million, a P/E ratio of -16.83 and a beta of 1.10. Abeona Therapeutics has a 12 month low of $10.50 and a 12 month high of $22.75.
Abeona Therapeutics (NASDAQ:ABEO) last posted its earnings results on Friday, August 10th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.06). The firm had revenue of $0.82 million during the quarter, compared to the consensus estimate of $1.81 million. Abeona Therapeutics had a negative net margin of 881.74% and a negative return on equity of 23.02%. On average, analysts anticipate that Abeona Therapeutics will post -0.88 EPS for the current year.
A number of institutional investors have recently made changes to their positions in ABEO. Trexquant Investment LP acquired a new stake in Abeona Therapeutics in the first quarter valued at approximately $260,000. Virginia Retirement Systems ET AL acquired a new stake in Abeona Therapeutics in the first quarter valued at approximately $152,000. Schwab Charles Investment Management Inc. grew its stake in Abeona Therapeutics by 11.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 62,852 shares of the biopharmaceutical company’s stock valued at $902,000 after acquiring an additional 6,500 shares during the period. Northern Trust Corp grew its stake in Abeona Therapeutics by 1.3% in the first quarter. Northern Trust Corp now owns 304,434 shares of the biopharmaceutical company’s stock valued at $4,369,000 after acquiring an additional 3,941 shares during the period. Finally, BlackRock Inc. grew its stake in Abeona Therapeutics by 0.3% in the first quarter. BlackRock Inc. now owns 1,873,472 shares of the biopharmaceutical company’s stock valued at $26,884,000 after acquiring an additional 5,094 shares during the period. 76.24% of the stock is owned by hedge funds and other institutional investors.
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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