Zacks: Brokerages Anticipate Abeona Therapeutics Inc (ABEO) Will Announce Quarterly Sales of $1.02 Million

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Equities research analysts expect Abeona Therapeutics Inc (NASDAQ:ABEO) to post sales of $1.02 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Abeona Therapeutics’ earnings. The lowest sales estimate is $200,000.00 and the highest is $1.81 million. Abeona Therapeutics reported sales of $220,000.00 during the same quarter last year, which indicates a positive year-over-year growth rate of 363.6%. The firm is expected to issue its next quarterly earnings results on Wednesday, November 21st.

On average, analysts expect that Abeona Therapeutics will report full year sales of $6.08 million for the current financial year, with estimates ranging from $5.63 million to $6.83 million. For the next year, analysts expect that the company will post sales of $18.32 million per share, with estimates ranging from $4.23 million to $43.30 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 posted its quarterly earnings results on Friday, August 10th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.06). Abeona Therapeutics had a negative net margin of 881.74% and a negative return on equity of 23.02%. The firm had revenue of $0.82 million for the quarter, compared to the consensus estimate of $1.81 million.

A number of research firms recently commented on ABEO. TheStreet lowered shares of Abeona Therapeutics from a “c-” rating to a “d+” rating in a report on Wednesday, August 29th. ValuEngine lowered shares of Abeona Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 30th. Cantor Fitzgerald set a $36.00 price target on shares of Abeona Therapeutics and gave the company a “buy” rating in a report on Friday, August 17th. Zacks Investment Research lowered shares of Abeona Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, August 15th. Finally, HC Wainwright set a $30.00 price target on shares of Abeona Therapeutics and gave the company a “buy” rating in a report on Monday, August 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $28.30.

A number of hedge funds and other institutional investors have recently modified their holdings of ABEO. Knott David M bought a new position in Abeona Therapeutics in the 1st quarter worth $101,000. Fortaleza Asset Management Inc. bought a new position in Abeona Therapeutics in the 2nd quarter worth $104,000. Virginia Retirement Systems ET AL bought a new position in Abeona Therapeutics in the 1st quarter worth $152,000. Sabby Management LLC bought a new position in Abeona Therapeutics in the 1st quarter worth $187,000. Finally, Trexquant Investment LP bought a new position in Abeona Therapeutics in the 1st quarter worth $260,000. Institutional investors and hedge funds own 76.24% of the company’s stock.

NASDAQ:ABEO traded down $0.05 during midday trading on Thursday, reaching $13.65. 466,164 shares of the stock traded hands, compared to its average volume of 451,333. Abeona Therapeutics has a 12 month low of $10.50 and a 12 month high of $22.75.

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.

See Also: Price to Earnings Ratio (PE) Basics

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Earnings History and Estimates for Abeona Therapeutics (NASDAQ:ABEO)

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