Zacks Investment Research upgraded shares of Regenxbio (NASDAQ:RGNX) from a hold rating to a buy rating in a research note released on Tuesday. Zacks Investment Research currently has $50.00 price objective on the biotechnology company’s stock.
According to Zacks, “REGENXBIO Inc. is a biotechnology company. The Company focuses on the development, commercialization and licensing of recombinant adeno-associated virus gene therapy. Its products candidates include RGX-501, for the treatment of homozygous familial hypercholesterolemia which uses the AAV8 vector to deliver the human low-density lipoprotein receptor gene to liver cells; RGX-111, for the treatment of Mucopolysaccharidosis Type I which uses the AAV9 vector to deliver the human a-l-iduronidase gene to the central nervous system; RGX-121, for the treatment of Mucopolysaccharidosis Type II; RGX-314, for the treatment of wet age-related macular degeneration and RGX-321, for the treatment of X-linked retinitis pigmentosa. REGENXBIO Inc. is headquartered in Rockville, Maryland. “
A number of other equities analysts have also recently commented on RGNX. ValuEngine cut Regenxbio from a strong-buy rating to a buy rating in a report on Thursday, October 11th. Raymond James reiterated a buy rating on shares of Regenxbio in a report on Monday, October 29th. BidaskClub upgraded Regenxbio from a hold rating to a buy rating in a report on Saturday, November 3rd. Bank of America lifted their target price on Regenxbio from $76.00 to $84.00 and gave the stock a neutral rating in a report on Thursday, November 8th. Finally, Leerink Swann initiated coverage on Regenxbio in a report on Tuesday, November 27th. They issued an underperform rating and a $42.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $74.81.
Shares of Regenxbio stock opened at $47.12 on Tuesday. The company has a market capitalization of $1.63 billion, a PE ratio of -19.23 and a beta of 0.41. Regenxbio has a one year low of $23.25 and a one year high of $85.10.
Regenxbio (NASDAQ:RGNX) last announced its earnings results on Wednesday, November 7th. The biotechnology company reported ($0.56) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.86) by $0.30. The firm had revenue of $5.31 million during the quarter. Regenxbio had a return on equity of 22.52% and a net margin of 44.30%. As a group, research analysts forecast that Regenxbio will post 2.34 earnings per share for the current year.
In related news, CFO Vittal Vasista sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $60.29, for a total transaction of $452,175.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Curran Simpson sold 32,882 shares of the firm’s stock in a transaction that occurred on Friday, November 16th. The stock was sold at an average price of $63.76, for a total value of $2,096,556.32. The disclosure for this sale can be found here. Insiders have sold a total of 224,879 shares of company stock valued at $13,351,900 over the last three months. 16.90% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of RGNX. Vanguard Group Inc. lifted its stake in shares of Regenxbio by 51.0% during the 3rd quarter. Vanguard Group Inc. now owns 2,805,969 shares of the biotechnology company’s stock worth $211,851,000 after acquiring an additional 947,671 shares during the last quarter. Vanguard Group Inc lifted its stake in shares of Regenxbio by 51.0% during the 3rd quarter. Vanguard Group Inc now owns 2,805,969 shares of the biotechnology company’s stock worth $211,851,000 after acquiring an additional 947,671 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Regenxbio by 12.1% during the 3rd quarter. BlackRock Inc. now owns 4,727,045 shares of the biotechnology company’s stock worth $356,893,000 after acquiring an additional 508,632 shares during the last quarter. Bank of New York Mellon Corp raised its position in Regenxbio by 140.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 319,330 shares of the biotechnology company’s stock valued at $22,911,000 after purchasing an additional 186,595 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in Regenxbio by 113.5% during the 3rd quarter. Renaissance Technologies LLC now owns 286,500 shares of the biotechnology company’s stock valued at $21,631,000 after purchasing an additional 152,300 shares in the last quarter. 79.14% of the stock is owned by hedge funds and other institutional investors.
Regenxbio Company Profile
REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapy product candidates to deliver genes to cells to address genetic defects or to enable cells in the body to produce therapeutic proteins that are intended to impact disease. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus (AAV) gene delivery platform.
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