Abeona Therapeutics (NASDAQ:ABEO) Earns “Buy” Rating from HC Wainwright

Abeona Therapeutics (NASDAQ:ABEO)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a report issued on Thursday,Benzinga reports. They currently have a $20.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s target price suggests a potential upside of 251.49% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Wall Street Zen upgraded shares of Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Stifel Nicolaus set a $17.00 price target on shares of Abeona Therapeutics in a report on Tuesday, March 17th. Finally, Oppenheimer restated an “outperform” rating on shares of Abeona Therapeutics in a report on Monday, March 9th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $19.00.

Abeona Therapeutics Trading Up 3.6%

NASDAQ ABEO opened at $5.69 on Thursday. Abeona Therapeutics has a twelve month low of $4.00 and a twelve month high of $7.54. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.70 and a current ratio of 5.89. The stock has a market cap of $324.27 million, a price-to-earnings ratio of 5.87 and a beta of 1.35. The firm’s 50 day moving average price is $5.16 and its two-hundred day moving average price is $5.08.

Abeona Therapeutics (NASDAQ:ABEO) last posted its quarterly earnings data on Wednesday, May 13th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.03. The firm had revenue of $8.72 million for the quarter, compared to analysts’ expectations of $4.57 million. Equities analysts anticipate that Abeona Therapeutics will post -0.79 EPS for the current year.

Insider Activity at Abeona Therapeutics

In related news, Director Mark Alvino sold 6,500 shares of Abeona Therapeutics stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $5.46, for a total value of $35,490.00. Following the completion of the sale, the director owned 77,565 shares of the company’s stock, valued at approximately $423,504.90. The trade was a 7.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eric Crombez sold 26,143 shares of Abeona Therapeutics stock in a transaction on Friday, May 15th. The shares were sold at an average price of $5.53, for a total transaction of $144,570.79. Following the completion of the sale, the director directly owned 37,313 shares of the company’s stock, valued at approximately $206,340.89. The trade was a 41.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 38,191 shares of company stock valued at $213,127. Insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ABEO. Legal & General Group Plc acquired a new position in Abeona Therapeutics during the 2nd quarter worth $27,000. Royal Bank of Canada raised its position in shares of Abeona Therapeutics by 49.6% during the first quarter. Royal Bank of Canada now owns 6,500 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 2,155 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Abeona Therapeutics during the third quarter valued at about $37,000. Truvestments Capital LLC increased its stake in Abeona Therapeutics by 191.4% in the fourth quarter. Truvestments Capital LLC now owns 10,307 shares of the biopharmaceutical company’s stock valued at $54,000 after acquiring an additional 6,770 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Abeona Therapeutics in the fourth quarter valued at about $57,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Abeona Therapeutics Company Profile

Abeona Therapeutics is a clinical‐stage biopharmaceutical company focused on the development and commercialization of gene and cell therapies for severe, life‐threatening rare diseases and oncology indications. Founded in 2014 and headquartered in Cleveland, Ohio, Abeona leverages proprietary viral and non‐viral delivery platforms to correct or compensate for underlying genetic deficiencies. The company’s research efforts target pediatric neurodegenerative disorders as well as debilitating dermatologic conditions with high unmet medical need.

The company’s lead clinical programs include separate AAV‐based gene therapies for CLN1 and CLN3 forms of neuronal ceroid lipofuscinosis, alongside an ex vivo autologous cell therapy for recessive dystrophic epidermolysis bullosa.