Regenxbio (RGNX) Given New $84.00 Price Target at Bank of America

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Regenxbio (NASDAQ:RGNX) had its price target boosted by Bank of America from $76.00 to $84.00 in a report released on Thursday. The firm currently has a “neutral” rating on the biotechnology company’s stock. Bank of America’s target price points to a potential upside of 26.56% from the company’s current price.

RGNX has been the subject of a number of other reports. ValuEngine downgraded Regenxbio from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 11th. Morgan Stanley raised their price objective on Regenxbio from $37.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, July 13th. BidaskClub downgraded Regenxbio from a “buy” rating to a “hold” rating in a research report on Friday, October 5th. Barclays raised their price objective on Regenxbio from $48.00 to $83.00 and gave the stock an “overweight” rating in a research report on Monday, August 13th. Finally, Raymond James set a $96.00 price objective on Regenxbio and gave the stock a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $84.07.

Shares of NASDAQ RGNX traded down $2.60 during trading on Thursday, hitting $66.37. 332,639 shares of the company were exchanged, compared to its average volume of 437,699. Regenxbio has a 12-month low of $23.25 and a 12-month high of $85.10. The firm has a market cap of $2.38 billion, a PE ratio of -27.09, a P/E/G ratio of 14.80 and a beta of -0.49.

Regenxbio (NASDAQ:RGNX) last posted its quarterly earnings results on Wednesday, November 7th. The biotechnology company reported ($0.56) EPS for the quarter, topping the consensus estimate of ($0.86) by $0.30. Regenxbio had a return on equity of 27.33% and a net margin of 44.30%. The business had revenue of $5.31 million for the quarter. As a group, equities research analysts expect that Regenxbio will post 1.64 earnings per share for the current fiscal year.

In other Regenxbio news, SVP Patrick J. Christmas sold 5,000 shares of Regenxbio stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $65.96, for a total value of $329,800.00. Following the completion of the transaction, the senior vice president now directly owns 22,669 shares of the company’s stock, valued at approximately $1,495,247.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Vittal Vasista sold 7,500 shares of Regenxbio stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $65.43, for a total value of $490,725.00. Following the completion of the transaction, the chief financial officer now directly owns 123,584 shares of the company’s stock, valued at $8,086,101.12. The disclosure for this sale can be found here. Insiders have sold a total of 286,585 shares of company stock valued at $18,814,681 over the last three months. Corporate insiders own 16.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Globeflex Capital L P grew its position in Regenxbio by 14.3% in the 3rd quarter. Globeflex Capital L P now owns 6,400 shares of the biotechnology company’s stock valued at $483,000 after acquiring an additional 800 shares in the last quarter. State of Alaska Department of Revenue grew its position in Regenxbio by 9.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 9,590 shares of the biotechnology company’s stock valued at $724,000 after acquiring an additional 820 shares in the last quarter. SG Americas Securities LLC grew its position in Regenxbio by 37.4% in the 3rd quarter. SG Americas Securities LLC now owns 3,422 shares of the biotechnology company’s stock valued at $258,000 after acquiring an additional 931 shares in the last quarter. Louisiana State Employees Retirement System grew its position in Regenxbio by 8.3% in the 3rd quarter. Louisiana State Employees Retirement System now owns 13,000 shares of the biotechnology company’s stock valued at $982,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its position in Regenxbio by 6.2% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 19,165 shares of the biotechnology company’s stock valued at $1,447,000 after acquiring an additional 1,115 shares in the last quarter. 81.17% of the stock is owned by institutional investors.

About Regenxbio

REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapy product candidates to deliver genes to cells to address genetic defects or to enable cells in the body to produce therapeutic proteins that are intended to impact disease. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus (AAV) gene delivery platform.

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Analyst Recommendations for Regenxbio (NASDAQ:RGNX)

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