Abeona Therapeutics (ABEO) Receives “Buy” Rating from HC Wainwright
HC Wainwright reiterated their buy rating on shares of Abeona Therapeutics (NASDAQ:ABEO) in a research note published on Friday morning. HC Wainwright 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 $1.44B to Abeona’s technology platforms, which yields a price per share of $30.00 based on about 50M shares outstanding as of end-3Q 2019. We utilize an 85% probability of success for EB-101. Risks include, but are not limited to: (1) slower-than-anticipated clinical trial progress; (2) trial failures; (3) slower-than-projected timelines for drug approvals; and (4) poor uptake of the firm’s products once introduced.”,” HC Wainwright’s analyst wrote.
Several other analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Abeona Therapeutics from a hold rating to a sell rating in a research note on Wednesday, August 15th. Maxim Group reissued a buy rating and issued a $35.00 price objective on shares of Abeona Therapeutics in a research report on Friday, August 10th. Cantor Fitzgerald set a $36.00 price objective on shares of Abeona Therapeutics and gave the company a buy rating in a research report on Monday, November 12th. TheStreet cut shares of Abeona Therapeutics from a c- rating to a d+ rating in a research report on Wednesday, August 29th. Finally, BidaskClub cut shares of Abeona Therapeutics from a sell rating to a strong sell rating in a research report on Thursday, November 8th. Two investment analysts have rated the stock with a sell rating and ten have assigned a buy rating to the company. The stock has an average rating of Buy and an average target price of $26.78.
Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings data on Monday, November 12th. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.11). The company had revenue of $1.71 million during the quarter, compared to analyst estimates of $1.02 million. Abeona Therapeutics had a negative net margin of 843.14% and a negative return on equity of 27.69%. As a group, sell-side analysts expect that Abeona Therapeutics will post -0.98 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of Abeona Therapeutics by 1.4% in the third quarter. FMR LLC now owns 7,191,492 shares of the biopharmaceutical company’s stock worth $92,051,000 after acquiring an additional 97,185 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Abeona Therapeutics by 1.6% in the 3rd quarter. BlackRock Inc. now owns 2,220,116 shares of the biopharmaceutical company’s stock worth $28,418,000 after purchasing an additional 35,610 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Abeona Therapeutics by 7.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,539,008 shares of the biopharmaceutical company’s stock worth $19,699,000 after purchasing an additional 108,333 shares during the period. Millennium Management LLC boosted its holdings in shares of Abeona Therapeutics by 5.3% in the 2nd quarter. Millennium Management LLC now owns 964,839 shares of the biopharmaceutical company’s stock worth $15,437,000 after purchasing an additional 48,583 shares during the period. Finally, Nexthera Capital LP boosted its holdings in shares of Abeona Therapeutics by 35.6% in the 3rd quarter. Nexthera Capital LP now owns 849,979 shares of the biopharmaceutical company’s stock worth $10,880,000 after purchasing an additional 223,175 shares during the period. 72.32% of the stock is owned by hedge funds and other institutional investors.
Abeona Therapeutics Company Profile
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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