Zacks Investment Research Upgrades Abeona Therapeutics Inc. (ABEO) to Buy
Abeona Therapeutics Inc. (NASDAQ:ABEO) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage currently has a $18.00 price objective on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.46% from the stock’s previous close.
According to Zacks, “Abeona Therapeutics, Inc. is engaged in developing and delivering gene therapy and plasma-based products for rare diseases. Abeona Therapeutics Inc., formerly known as PlasmaTech Biopharmaceuticals, Inc., is based in Dallas, United States. “
Other analysts have also recently issued research reports about the stock. BidaskClub cut shares of Abeona Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. HC Wainwright restated a “buy” rating and set a $30.00 price objective (up previously from $20.00) on shares of Abeona Therapeutics in a research report on Monday, October 16th. 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 objective on the stock. Cantor Fitzgerald restated a “buy” rating and set a $21.00 price objective on shares of Abeona Therapeutics in a research report on Friday, October 6th. Finally, Maxim Group set a $17.00 price objective on shares of Abeona Therapeutics and gave the company a “buy” rating in a research report on Tuesday, August 29th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Abeona Therapeutics currently has an average rating of “Buy” and an average price target of $26.10.
Shares of Abeona Therapeutics (ABEO) opened at $16.15 on Wednesday. Abeona Therapeutics has a 52-week low of $4.05 and a 52-week high of $22.75.
Abeona Therapeutics (NASDAQ:ABEO) last posted its quarterly earnings data on Wednesday, November 15th. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.05. The firm had revenue of $0.22 million for the quarter, compared to analysts’ expectations of $0.22 million. Abeona Therapeutics had a negative net margin of 2,946.58% and a negative return on equity of 27.69%. analysts forecast that Abeona Therapeutics will post -0.66 earnings per share for the current year.
Large investors have recently modified their holdings of the stock. State of Wisconsin Investment Board purchased a new position in Abeona Therapeutics in the 2nd quarter worth $122,000. Rhumbline Advisers purchased a new position in Abeona Therapeutics in the 2nd quarter worth $190,000. Wells Fargo & Company MN raised its position in Abeona Therapeutics by 3,421.8% in the 3rd quarter. Wells Fargo & Company MN now owns 35,218 shares of the biopharmaceutical company’s stock worth $600,000 after purchasing an additional 34,218 shares during the period. Family Management Corp raised its position in Abeona Therapeutics by 50.0% in the 3rd quarter. Family Management Corp now owns 36,000 shares of the biopharmaceutical company’s stock worth $614,000 after purchasing an additional 12,000 shares during the period. Finally, Schwab Charles Investment Management Inc. purchased a new position in Abeona Therapeutics in the 2nd quarter worth $264,000. Institutional investors own 36.34% of the company’s stock.
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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