Cantor Fitzgerald Reiterates Buy Rating for Abeona Therapeutics (ABEO)
Cantor Fitzgerald restated their buy rating on shares of Abeona Therapeutics (NASDAQ:ABEO) in a research note issued to investors on Thursday. Cantor Fitzgerald currently has a $36.00 price target on the biopharmaceutical company’s stock.
“: This morning Abeona Therapeutics hosted an New York. Management and KOLs provided additional color on Abeona’s internal programs, and future pipeline directions. In the new year, we believe a majority of investor focus will be on the Phase 3 EB-101 trial initiation, and clinical and commercialization strategy updates related to the MPS III programs.”,” Cantor Fitzgerald’s analyst commented.
ABEO has been the topic of a number of other reports. Citigroup dropped their price target on Abeona Therapeutics from $32.00 to $28.00 and set a buy rating on the stock in a research report on Tuesday, November 13th. ValuEngine cut Abeona Therapeutics from a strong-buy rating to a buy rating in a research report on Thursday, August 30th. BidaskClub cut Abeona Therapeutics from a hold rating to a sell rating in a research report on Thursday, October 4th. Mizuho began coverage on Abeona Therapeutics in a research report on Thursday, October 11th. They set a buy rating and a $17.00 price target on the stock. Finally, TheStreet cut Abeona Therapeutics from a c- rating to a d+ rating in a research report on Wednesday, August 29th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. Abeona Therapeutics currently has an average rating of Buy and a consensus target price of $26.78.
Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings results on Monday, November 12th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.11). The company had revenue of $1.71 million for the quarter, compared to analyst estimates of $1.02 million. Abeona Therapeutics had a negative return on equity of 27.69% and a negative net margin of 843.14%. Analysts anticipate that Abeona Therapeutics will post -0.98 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of ABEO. FMR LLC increased its position in Abeona Therapeutics by 47.7% in the 2nd quarter. FMR LLC now owns 7,094,307 shares of the biopharmaceutical company’s stock valued at $113,509,000 after acquiring an additional 2,291,016 shares during the period. PointState Capital LP acquired a new stake in Abeona Therapeutics in the 2nd quarter valued at approximately $9,210,000. BlackRock Inc. increased its position in Abeona Therapeutics by 16.6% in the 2nd quarter. BlackRock Inc. now owns 2,184,506 shares of the biopharmaceutical company’s stock valued at $34,951,000 after acquiring an additional 311,034 shares during the period. Marshall Wace LLP acquired a new stake in Abeona Therapeutics in the 3rd quarter valued at approximately $3,823,000. Finally, Nexthera Capital LP increased its position in Abeona Therapeutics by 69.6% in the 2nd quarter. Nexthera Capital LP now owns 626,804 shares of the biopharmaceutical company’s stock valued at $10,029,000 after acquiring an additional 257,304 shares during the period. Hedge funds and other institutional investors own 72.32% of the company’s stock.
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.
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