Cantor Fitzgerald Forecasts Strong Price Appreciation for Abeona Therapeutics (NASDAQ:ABEO) Stock

Abeona Therapeutics (NASDAQ:ABEO) had its target price increased by equities research analysts at Cantor Fitzgerald from $28.00 to $30.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 436.67% from the company’s previous close.

ABEO has been the topic of a number of other reports. Roth Capital began coverage on shares of Abeona Therapeutics in a research report on Thursday. They set a “buy” rating and a $17.00 price target on the stock. HC Wainwright restated a “buy” rating and set a $20.00 target price on shares of Abeona Therapeutics in a research report on Thursday, May 28th. Oppenheimer reaffirmed an “outperform” rating and set a $21.00 target price (down from $22.00) on shares of Abeona Therapeutics in a report on Friday, August 14th. Wall Street Zen upgraded shares of Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings cut Abeona Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Abeona Therapeutics Stock Performance

Shares of NASDAQ ABEO opened at $5.59 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.63 and a quick ratio of 6.40. The stock’s fifty day moving average price is $6.30 and its two-hundred day moving average price is $5.70. Abeona Therapeutics has a one year low of $4.00 and a one year high of $7.65. The firm has a market cap of $319.64 million, a price-to-earnings ratio of -5.13 and a beta of 1.33.

Abeona Therapeutics (NASDAQ:ABEO) last posted its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.12). The firm had revenue of $11.38 million during the quarter, compared to the consensus estimate of $12.24 million. On average, equities analysts forecast that Abeona Therapeutics will post -0.93 EPS for the current year.

Insider Activity

In related news, insider Madhav Vasanthavada sold 12,606 shares of the firm’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $6.96, for a total value of $87,737.76. Following the sale, the insider directly owned 290,623 shares of the company’s stock, valued at $2,022,736.08. This trade represents a 4.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Brendan M. O’malley sold 12,050 shares of Abeona Therapeutics stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $6.96, for a total value of $83,868.00. Following the completion of the transaction, the senior vice president owned 427,953 shares in the company, valued at approximately $2,978,552.88. This represents a 2.74% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 144,985 shares of company stock valued at $980,520. Corporate insiders own 7.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. AIGH Capital Management LLC boosted its position in Abeona Therapeutics by 55.0% in the first quarter. AIGH Capital Management LLC now owns 3,100,000 shares of the biopharmaceutical company’s stock valued at $13,888,000 after buying an additional 1,100,000 shares in the last quarter. AWM Investment Company Inc. acquired a new position in shares of Abeona Therapeutics during the second quarter worth $9,184,000. Simplify Asset Management Inc. lifted its stake in shares of Abeona Therapeutics by 1.5% in the 1st quarter. Simplify Asset Management Inc. now owns 507,988 shares of the biopharmaceutical company’s stock valued at $2,276,000 after acquiring an additional 7,646 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Abeona Therapeutics in the 2nd quarter valued at $1,262,000. Finally, Sei Investments Co. boosted its holdings in shares of Abeona Therapeutics by 142.4% during the 1st quarter. Sei Investments Co. now owns 172,460 shares of the biopharmaceutical company’s stock valued at $773,000 after acquiring an additional 101,307 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

About Abeona Therapeutics

Abeona Therapeutics Inc is a biopharmaceutical company focused on developing and commercializing cell and gene therapies for patients with serious and life-threatening genetic diseases. The company’s programs are designed to address conditions for which existing treatment options are limited or inadequate.

Abeona’s lead product, ZEVASKYN (prademagene zamikeracel, formerly EB-101), is an autologous gene-corrected cell therapy for recessive dystrophic epidermolysis bullosa, a rare inherited disorder that causes fragile skin and chronic wounds.