Abeona Therapeutics Inc. (NASDAQ:ABEO) Receives $20.00 Consensus Target Price from Brokerages

Abeona Therapeutics Inc. (NASDAQ:ABEO) has been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $20.00.

Several analysts have issued reports on the company. Weiss Ratings cut Abeona Therapeutics from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 24th. Oppenheimer raised their price objective on Abeona Therapeutics from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, August 15th. HC Wainwright reiterated a “buy” rating and issued a $20.00 target price on shares of Abeona Therapeutics in a research note on Monday, October 13th. Finally, Wall Street Zen downgraded shares of Abeona Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 15th.

Insider Activity

In related news, Director Mark Alvino sold 15,000 shares of the stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $4.74, for a total transaction of $71,100.00. Following the completion of the sale, the director owned 62,252 shares of the company’s stock, valued at $295,074.48. This represents a 19.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Joseph Walter Vazzano sold 9,035 shares of Abeona Therapeutics stock in a transaction on Monday, September 29th. The stock was sold at an average price of $5.39, for a total transaction of $48,698.65. Following the completion of the transaction, the chief financial officer directly owned 453,631 shares in the company, valued at $2,445,071.09. This represents a 1.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 78,612 shares of company stock worth $410,271. Insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. acquired a new stake in Abeona Therapeutics in the second quarter worth about $25,000. Legal & General Group Plc purchased a new position in shares of Abeona Therapeutics in the 2nd quarter valued at approximately $27,000. Russell Investments Group Ltd. acquired a new stake in Abeona Therapeutics in the 3rd quarter worth approximately $37,000. Legato Capital Management LLC purchased a new stake in Abeona Therapeutics during the 3rd quarter worth approximately $57,000. Finally, Riverwater Partners LLC acquired a new position in Abeona Therapeutics during the 2nd quarter valued at approximately $62,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Abeona Therapeutics Trading Up 2.1%

NASDAQ ABEO opened at $5.24 on Friday. Abeona Therapeutics has a one year low of $3.93 and a one year high of $7.54. The company has a debt-to-equity ratio of 0.06, a quick ratio of 9.53 and a current ratio of 9.74. The company has a market capitalization of $283.96 million, a price-to-earnings ratio of 4.26 and a beta of 1.12. The company’s 50-day simple moving average is $4.97 and its two-hundred day simple moving average is $5.82.

Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings results on Wednesday, November 12th. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.17. Equities analysts forecast that Abeona Therapeutics will post -1.16 EPS for the current fiscal year.

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.