Abeona Therapeutics Inc. (ABEO) Downgraded by Zacks Investment Research
Zacks Investment Research lowered shares of Abeona Therapeutics Inc. (NASDAQ:ABEO) from a buy rating to a hold rating in a research report released on Thursday.
According to Zacks, “Abeona Therapeutics, Inc. is engaged in developing and delivering gene therapy and plasma-based products for rare diseases. Abeona Therapeutics Inc., formerly known as PlasmaTech Biopharmaceuticals, Inc., is based in Dallas, United States. “
ABEO has been the topic of a number of other research reports. SunTrust Banks, Inc. assumed coverage on Abeona Therapeutics in a report on Wednesday, November 8th. They issued a buy rating and a $26.00 target price on the stock. BidaskClub lowered Abeona Therapeutics from a buy rating to a hold rating in a report on Wednesday, August 2nd. Maxim Group set a $35.00 target price on Abeona Therapeutics and gave the company a buy rating in a report on Monday, November 20th. Royal Bank Of Canada assumed coverage on Abeona Therapeutics in a report on Thursday, September 14th. They issued an outperform rating and a $23.00 target price on the stock. Finally, Cantor Fitzgerald reissued a buy rating and issued a $21.00 target price on shares of Abeona Therapeutics in a report on Friday, October 6th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $26.10.
Shares of Abeona Therapeutics (NASDAQ ABEO) opened at $16.75 on Thursday. Abeona Therapeutics has a 52 week low of $4.05 and a 52 week high of $22.75.
Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings data on Wednesday, November 15th. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.05. Abeona Therapeutics had a negative return on equity of 27.69% and a negative net margin of 2,946.58%. The company had revenue of $0.22 million during the quarter, compared to analysts’ expectations of $0.22 million. research analysts expect that Abeona Therapeutics will post -0.6 EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in ABEO. Vanguard Group Inc. grew its holdings in Abeona Therapeutics by 11.2% during the second quarter. Vanguard Group Inc. now owns 1,081,670 shares of the biopharmaceutical company’s stock worth $6,922,000 after acquiring an additional 108,730 shares during the period. State Street Corp acquired a new position in Abeona Therapeutics during the second quarter worth $1,900,000. Northern Trust Corp grew its holdings in Abeona Therapeutics by 406.3% during the second quarter. Northern Trust Corp now owns 257,668 shares of the biopharmaceutical company’s stock worth $1,649,000 after acquiring an additional 206,775 shares during the period. Point72 Asset Management L.P. acquired a new position in Abeona Therapeutics during the third quarter worth $3,527,000. Finally, Geode Capital Management LLC grew its holdings in Abeona Therapeutics by 2.4% during the first quarter. Geode Capital Management LLC now owns 196,073 shares of the biopharmaceutical company’s stock worth $980,000 after acquiring an additional 4,588 shares during the period. 36.34% of the stock is currently owned by institutional investors and hedge funds.
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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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