REGENXBIO (NASDAQ:RGNX) Upgraded by Zacks Investment Research to “Buy”

REGENXBIO (NASDAQ:RGNXGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, Zacks.com reports. The brokerage currently has a $35.00 target price on the biotechnology company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 14.68% from the stock’s current price.

According to Zacks, “REGENXBIO Inc. is a biotechnology company. The Company focuses on the development, commercialization and licensing of recombinant adeno-associated virus gene therapy. Its products candidates include RGX-501, for the treatment of homozygous familial hypercholesterolemia which uses the AAV8 vector to deliver the human low-density lipoprotein receptor gene to liver cells; RGX-111, for the treatment of Mucopolysaccharidosis Type I which uses the AAV9 vector to deliver the human a-l-iduronidase gene to the central nervous system; RGX-121, for the treatment of Mucopolysaccharidosis Type II; RGX-314, for the treatment of wet age-related macular degeneration and RGX-321, for the treatment of X-linked retinitis pigmentosa. REGENXBIO Inc. is headquartered in Rockville, Maryland. “

Several other brokerages have also recently weighed in on RGNX. StockNews.com started coverage on REGENXBIO in a research report on Thursday, March 31st. They set a “hold” rating on the stock. SVB Leerink decreased their price target on REGENXBIO from $29.00 to $25.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 2nd. Chardan Capital restated a “buy” rating on shares of REGENXBIO in a research report on Monday. Morgan Stanley upped their price objective on shares of REGENXBIO from $50.00 to $51.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 23rd. Finally, TheStreet upgraded shares of REGENXBIO from a “d” rating to a “c” rating in a research report on Tuesday, March 1st. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $46.25.

NASDAQ RGNX opened at $30.52 on Friday. The company has a market cap of $1.31 billion, a PE ratio of 11.14 and a beta of 1.06. REGENXBIO has a 52 week low of $24.09 and a 52 week high of $46.46. The firm’s 50-day simple moving average is $28.86 and its two-hundred day simple moving average is $31.35.

REGENXBIO (NASDAQ:RGNXGet Rating) last announced its quarterly earnings results on Tuesday, March 1st. The biotechnology company reported $6.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.28 by $2.39. REGENXBIO had a return on equity of 22.35% and a net margin of 27.18%. The firm had revenue of $398.66 million for the quarter, compared to analysts’ expectations of $255.76 million. During the same period in the prior year, the business posted ($1.24) earnings per share. The company’s revenue was up 1759.0% on a year-over-year basis. As a group, equities research analysts expect that REGENXBIO will post -3.87 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Amalgamated Bank boosted its stake in REGENXBIO by 1.7% in the third quarter. Amalgamated Bank now owns 19,139 shares of the biotechnology company’s stock worth $802,000 after buying an additional 314 shares in the last quarter. Voya Investment Management LLC boosted its stake in REGENXBIO by 1.2% in the third quarter. Voya Investment Management LLC now owns 26,186 shares of the biotechnology company’s stock worth $1,098,000 after buying an additional 314 shares in the last quarter. New York State Teachers Retirement System boosted its stake in shares of REGENXBIO by 0.9% during the fourth quarter. New York State Teachers Retirement System now owns 45,631 shares of the biotechnology company’s stock valued at $1,492,000 after purchasing an additional 400 shares during the period. TD Asset Management Inc. boosted its stake in shares of REGENXBIO by 2.2% during the third quarter. TD Asset Management Inc. now owns 20,600 shares of the biotechnology company’s stock valued at $864,000 after purchasing an additional 435 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of REGENXBIO by 3.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,443 shares of the biotechnology company’s stock valued at $472,000 after purchasing an additional 488 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

About REGENXBIO (Get Rating)

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 or antibodies that are intended to impact disease. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus gene delivery platform.

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