Maxim Group set a $35.00 price objective on Abeona Therapeutics Inc. (NASDAQ:ABEO) in a research note issued to investors on Monday morning. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

“Abeona reported 3Q17 with a net loss of $5.3M and ended the period with $56.5M in cash. The company also completed an equity financing in October raising $92M in cash. As of 10/31, Abeona reported $143M in cash on the balance sheet, sufficient runway for the next several years.”,” Maxim Group’s analyst commented.

A number of other research analysts have also commented on the stock. HC Wainwright restated a buy rating and set a $20.00 price target on shares of Abeona Therapeutics in a research report on Thursday, August 24th. SunTrust Banks, Inc. started coverage on shares of Abeona Therapeutics in a research report on Wednesday, November 8th. They set a buy rating and a $26.00 price target for the company. Citigroup Inc. started coverage on shares of Abeona Therapeutics in a research report on Tuesday, October 10th. They set a buy rating and a $32.00 price target for the company. Cantor Fitzgerald restated a buy rating and set a $21.00 price target on shares of Abeona Therapeutics in a research report on Friday, October 6th. Finally, BidaskClub lowered shares of Abeona Therapeutics from a strong-buy rating to a buy rating in a research report on Thursday, July 27th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $26.10.

Shares of Abeona Therapeutics (NASDAQ ABEO) remained flat at $$16.15 during mid-day trading on Monday. 501,000 shares of the company’s stock were exchanged, compared to its average volume of 623,707. Abeona Therapeutics has a twelve month low of $4.05 and a twelve month high of $22.75.

Abeona Therapeutics (NASDAQ:ABEO) last issued its earnings results on Wednesday, November 15th. The biopharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.05. Abeona Therapeutics had a negative net margin of 2,946.58% and a negative return on equity of 27.69%. The business had revenue of $0.22 million for the quarter, compared to analysts’ expectations of $0.22 million. equities analysts anticipate that Abeona Therapeutics will post -0.63 earnings per share for the current year.

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Several institutional investors and hedge funds have recently added to or reduced their stakes in ABEO. Point72 Asset Management L.P. purchased a new position in Abeona Therapeutics in the third quarter worth $3,527,000. Family Management Corp grew its position in Abeona Therapeutics by 50.0% in the third quarter. Family Management Corp now owns 36,000 shares of the biopharmaceutical company’s stock worth $614,000 after acquiring an additional 12,000 shares in the last quarter. Wells Fargo & Company MN grew its position in Abeona Therapeutics by 3,421.8% in the third quarter. Wells Fargo & Company MN now owns 35,218 shares of the biopharmaceutical company’s stock worth $600,000 after acquiring an additional 34,218 shares in the last quarter. EAM Investors LLC purchased a new position in Abeona Therapeutics in the third quarter worth $2,509,000. Finally, Ardsley Advisory Partners grew its position in Abeona Therapeutics by 33.3% in the second quarter. Ardsley Advisory Partners now owns 60,000 shares of the biopharmaceutical company’s stock worth $383,000 after acquiring an additional 15,000 shares in the last quarter. Hedge funds and other institutional investors own 36.34% of the company’s stock.

Abeona Therapeutics Company Profile

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).

Analyst Recommendations for Abeona Therapeutics (NASDAQ:ABEO)

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