Zacks: Brokerages Expect Abeona Therapeutics Inc. (ABEO) Will Announce Quarterly Sales of $230,000.00
Wall Street brokerages expect Abeona Therapeutics Inc. (NASDAQ:ABEO) to post sales of $230,000.00 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Abeona Therapeutics’ earnings, with the lowest sales estimate coming in at $200,000.00 and the highest estimate coming in at $250,000.00. Abeona Therapeutics reported sales of $180,000.00 during the same quarter last year, which indicates a positive year-over-year growth rate of 27.8%. The company is scheduled to report its next quarterly earnings report on Monday, November 13th.
On average, analysts expect that Abeona Therapeutics will report full-year sales of $230,000.00 for the current financial year, with estimates ranging from $800,000.00 to $930,000.00. For the next fiscal year, analysts forecast that the company will post sales of $1.26 million per share, with estimates ranging from $800,000.00 to $1.72 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Abeona Therapeutics.
Abeona Therapeutics (NASDAQ:ABEO) last released its earnings results on Tuesday, August 15th. The biopharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.07). The firm had revenue of $0.22 million during the quarter, compared to the consensus estimate of $0.21 million. Abeona Therapeutics had a negative return on equity of 26.66% and a negative net margin of 2,746.38%.
ABEO has been the subject of a number of research reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $22.00 target price on shares of Abeona Therapeutics in a report on Thursday, June 22nd. BidaskClub raised shares of Abeona Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Zacks Investment Research raised shares of Abeona Therapeutics from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Tuesday, July 11th. Maxim Group reissued a “buy” rating and issued a $17.00 price objective (up previously from $14.00) on shares of Abeona Therapeutics in a report on Tuesday, July 18th. Finally, Cantor Fitzgerald set a $21.00 price objective on shares of Abeona Therapeutics and gave the company a “buy” rating in a report on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. Abeona Therapeutics presently has a consensus rating of “Buy” and an average target price of $18.50.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Family Management Corp purchased a new stake in shares of Abeona Therapeutics in the first quarter valued at about $120,000. State of Wisconsin Investment Board purchased a new stake in shares of Abeona Therapeutics in the second quarter valued at about $122,000. Rhumbline Advisers purchased a new stake in shares of Abeona Therapeutics in the second quarter valued at about $190,000. Bank of New York Mellon Corp grew its holdings in shares of Abeona Therapeutics by 125.8% in the first quarter. Bank of New York Mellon Corp now owns 41,929 shares of the biopharmaceutical company’s stock valued at $210,000 after purchasing an additional 23,358 shares during the period. Finally, Schwab Charles Investment Management Inc. purchased a new stake in shares of Abeona Therapeutics in the second quarter valued at about $264,000. 38.38% of the stock is owned by hedge funds and other institutional investors.
Shares of Abeona Therapeutics (NASDAQ:ABEO) opened at 17.70 on Friday. Abeona Therapeutics has a 12-month low of $4.05 and a 12-month high of $18.90. The stock has a 50 day moving average of $13.95 and a 200 day moving average of $8.24. The company’s market cap is $713.08 million.
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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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