Abeona Therapeutics Inc. (ABEO) Now Covered by SunTrust Banks, Inc.
SunTrust Banks, Inc. initiated coverage on shares of Abeona Therapeutics Inc. (NASDAQ:ABEO) in a research note published on Wednesday morning, Marketbeat reports. The brokerage issued a buy rating and a $26.00 target price on the biopharmaceutical company’s stock. SunTrust Banks also issued estimates for Abeona Therapeutics’ Q3 2017 earnings at ($0.23) EPS, Q4 2017 earnings at ($0.24) EPS, FY2017 earnings at ($0.81) EPS, Q1 2018 earnings at ($0.25) EPS, Q2 2018 earnings at ($0.30) EPS, Q3 2018 earnings at ($0.30) EPS, Q4 2018 earnings at ($0.28) EPS, FY2018 earnings at ($1.13) EPS, FY2019 earnings at ($1.09) EPS, FY2020 earnings at ($1.04) EPS and FY2021 earnings at ($0.80) EPS.
A number of other analysts also recently weighed in on the stock. HC Wainwright reaffirmed a buy rating and set a $30.00 price target (up previously from $20.00) on shares of Abeona Therapeutics in a report on Monday, October 16th. Cantor Fitzgerald upped their price target on shares of Abeona Therapeutics from $21.00 to $34.00 and gave the stock an overweight rating in a report on Wednesday, October 11th. Citigroup Inc. began coverage on shares of Abeona Therapeutics in a report on Tuesday, October 10th. They set a buy rating and a $32.00 price target for the company. Royal Bank Of Canada began coverage on shares of Abeona Therapeutics in a report on Thursday, September 14th. They set an outperform rating and a $23.00 price target for the company. Finally, Maxim Group set a $17.00 price target on shares of Abeona Therapeutics and gave the stock a buy rating in a report on Tuesday, August 29th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. Abeona Therapeutics presently has an average rating of Buy and a consensus target price of $22.90.
Shares of Abeona Therapeutics (ABEO) traded up $0.45 during trading on Wednesday, hitting $15.25. 631,700 shares of the stock were exchanged, compared to its average volume of 1,274,200. Abeona Therapeutics has a 12 month low of $4.05 and a 12 month high of $22.75.
Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings results on Tuesday, August 15th. The biopharmaceutical company reported ($0.21) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.07). Abeona Therapeutics had a negative return on equity of 26.66% and a negative net margin of 2,746.38%. The firm had revenue of $0.22 million for the quarter, compared to the consensus estimate of $0.21 million. research analysts forecast that Abeona Therapeutics will post -0.7 earnings per share for the current year.
A number of hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its position in Abeona Therapeutics by 3,421.8% during the 3rd quarter. Wells Fargo & Company MN now owns 35,218 shares of the biopharmaceutical company’s stock worth $600,000 after purchasing an additional 34,218 shares in the last quarter. EAM Investors LLC acquired a new position in Abeona Therapeutics during the 3rd quarter worth approximately $2,509,000. Ardsley Advisory Partners increased its position in Abeona Therapeutics by 33.3% during the 2nd quarter. Ardsley Advisory Partners now owns 60,000 shares of the biopharmaceutical company’s stock worth $383,000 after purchasing an additional 15,000 shares in the last quarter. California State Teachers Retirement System acquired a new position in Abeona Therapeutics during the 2nd quarter worth approximately $275,000. Finally, State Street Corp acquired a new position in Abeona Therapeutics during the 2nd quarter worth approximately $1,900,000. Institutional investors and hedge funds own 33.35% of the company’s stock.
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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