REGENXBIO’s (RGNX) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of REGENXBIO (NASDAQ:RGNXFree Report) in a report published on Thursday, Benzinga reports. They currently have a $38.00 price target on the biotechnology company’s stock.

A number of other research firms have also recently issued reports on RGNX. The Goldman Sachs Group assumed coverage on shares of REGENXBIO in a research note on Friday, June 7th. They issued a buy rating and a $38.00 target price for the company. Stifel Nicolaus restated a buy rating and issued a $40.00 price objective on shares of REGENXBIO in a research note on Friday, April 12th. Chardan Capital restated a buy rating and issued a $52.00 price objective on shares of REGENXBIO in a research note on Thursday, March 7th. SVB Leerink upgraded shares of REGENXBIO from a market perform rating to an outperform rating and set a $37.00 price objective for the company in a research note on Wednesday, March 6th. Finally, Leerink Partnrs upgraded shares of REGENXBIO from a market perform rating to an outperform rating in a research note on Wednesday, March 6th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $38.58.

View Our Latest Report on REGENXBIO

REGENXBIO Price Performance

REGENXBIO stock opened at $12.02 on Thursday. The firm’s 50 day simple moving average is $15.06 and its 200-day simple moving average is $17.13. The company has a market cap of $592.11 million, a P/E ratio of -2.04 and a beta of 1.34. REGENXBIO has a fifty-two week low of $11.43 and a fifty-two week high of $28.80.

REGENXBIO (NASDAQ:RGNXGet Free Report) last released its earnings results on Wednesday, May 8th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($1.28) by ($0.10). REGENXBIO had a negative return on equity of 70.72% and a negative net margin of 299.96%. The firm had revenue of $15.60 million during the quarter, compared to analysts’ expectations of $23.52 million. During the same period last year, the business earned ($1.53) earnings per share. The business’s revenue was down 18.3% on a year-over-year basis. On average, analysts expect that REGENXBIO will post -3.9 EPS for the current fiscal year.

Insider Buying and Selling at REGENXBIO

In other news, CEO Kenneth T. Mills sold 15,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $15.81, for a total value of $237,150.00. Following the sale, the chief executive officer now owns 408,035 shares of the company’s stock, valued at approximately $6,451,033.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 13.13% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its position in REGENXBIO by 73.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 746 shares during the period. ProShare Advisors LLC lifted its position in REGENXBIO by 8.3% during the 1st quarter. ProShare Advisors LLC now owns 11,384 shares of the biotechnology company’s stock valued at $240,000 after purchasing an additional 874 shares during the period. Harbor Capital Advisors Inc. lifted its position in REGENXBIO by 2.0% during the 4th quarter. Harbor Capital Advisors Inc. now owns 49,549 shares of the biotechnology company’s stock valued at $889,000 after purchasing an additional 990 shares during the period. Texas Permanent School Fund Corp lifted its position in REGENXBIO by 3.2% during the 3rd quarter. Texas Permanent School Fund Corp now owns 34,333 shares of the biotechnology company’s stock valued at $565,000 after purchasing an additional 1,051 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in REGENXBIO by 8.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,177 shares of the biotechnology company’s stock valued at $383,000 after purchasing an additional 1,438 shares during the period. Institutional investors and hedge funds own 88.08% of the company’s stock.

About REGENXBIO

(Get Free Report)

REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapies that deliver functional genes to cells with genetic defects in the United States. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus gene delivery platform. The company's products in pipeline includes ABBV-RGX-314 for the treatment of wet age-related macular degeneration, diabetic retinopathy, and other chronic retinal diseases; and RGX-202, which is in Phase I/II clinical trial for the treatment of Duchenne muscular dystrophy.

Read More

Analyst Recommendations for REGENXBIO (NASDAQ:RGNX)

Receive News & Ratings for REGENXBIO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for REGENXBIO and related companies with MarketBeat.com's FREE daily email newsletter.