BidaskClub downgraded shares of Abeona Therapeutics Inc. (NASDAQ:ABEO) from a strong-buy rating to a buy rating in a report published on Thursday.
ABEO has been the subject of a number of other reports. Cantor Fitzgerald set a $21.00 price objective on Abeona Therapeutics and gave the stock a buy rating in a report on Tuesday, July 18th. Maxim Group reissued a buy rating and set a $14.00 price target on shares of Abeona Therapeutics in a research report on Wednesday, April 12th. Jefferies Group LLC reissued a buy rating and set a $11.00 price target on shares of Abeona Therapeutics in a research report on Wednesday, April 26th. Zacks Investment Research raised Abeona Therapeutics from a hold rating to a buy rating and set a $10.00 price target for the company in a research report on Tuesday, July 11th. Finally, FBR & Co reissued a buy rating on shares of Abeona Therapeutics in a research report on Friday, May 26th. Eight investment analysts have rated the stock with a buy rating, The company has a consensus rating of Buy and a consensus target price of $17.86.
Shares of Abeona Therapeutics (ABEO) traded up 4.17% during midday trading on Thursday, hitting $8.75. The stock had a trading volume of 593,603 shares. Abeona Therapeutics has a one year low of $2.70 and a one year high of $10.26. The firm’s 50-day moving average is $7.25 and its 200 day moving average is $5.78. The company’s market capitalization is $352.23 million.
Abeona Therapeutics (NASDAQ:ABEO) last posted its quarterly earnings data on Thursday, May 18th. The biopharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.02. The business had revenue of $0.19 million during the quarter, compared to the consensus estimate of $0.28 million. Abeona Therapeutics had a negative return on equity of 26.99% and a negative net margin of 2,568.57%. Equities analysts expect that Abeona Therapeutics will post ($0.57) earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in ABEO. Highbridge Capital Management LLC boosted its stake in Abeona Therapeutics by 108.1% in the fourth quarter. Highbridge Capital Management LLC now owns 551,800 shares of the biopharmaceutical company’s stock worth $2,676,000 after buying an additional 286,657 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Abeona Therapeutics by 869.7% in the first quarter. Goldman Sachs Group Inc. now owns 116,000 shares of the biopharmaceutical company’s stock worth $580,000 after buying an additional 104,038 shares during the last quarter. Essex Investment Management Co. LLC acquired a new stake in Abeona Therapeutics during the second quarter worth about $594,000. Laurion Capital Management LP acquired a new stake in Abeona Therapeutics during the first quarter worth about $277,000. Finally, Wellington Management Group LLP boosted its stake in Abeona Therapeutics by 17.4% in the first quarter. Wellington Management Group LLP now owns 204,590 shares of the biopharmaceutical company’s stock worth $1,023,000 after buying an additional 30,300 shares during the last quarter. 35.64% of the stock is owned by institutional investors.
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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