StockNews.com Initiates Coverage on Abeona Therapeutics (NASDAQ:ABEO)

StockNews.com assumed coverage on shares of Abeona Therapeutics (NASDAQ:ABEO – Get Rating) in a report released on Wednesday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Separately, Zacks Investment Research upgraded shares of Abeona Therapeutics from a “hold” rating to a “buy” rating and set a $0.25 price objective for the company in a report on Tuesday, April 5th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Abeona Therapeutics currently has a consensus rating of “Buy” and an average price target of $1.75.

ABEO opened at $0.22 on Wednesday. The company’s 50 day moving average is $0.28 and its 200-day moving average is $0.45. Abeona Therapeutics has a 1-year low of $0.21 and a 1-year high of $2.04. The company has a market cap of $33.01 million, a P/E ratio of -0.26 and a beta of 1.35.

Abeona Therapeutics (NASDAQ:ABEO – Get Rating) last issued its quarterly earnings data on Thursday, March 31st. The biopharmaceutical company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). The company had revenue of $3.00 million for the quarter. On average, equities analysts predict that Abeona Therapeutics will post -0.33 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. GSA Capital Partners LLP bought a new position in Abeona Therapeutics in the 3rd quarter valued at approximately $37,000. Acadian Asset Management LLC bought a new position in Abeona Therapeutics during the 4th quarter worth approximately $78,000. Virtu Financial LLC bought a new position in Abeona Therapeutics during the 4th quarter worth approximately $84,000. Citadel Advisors LLC bought a new position in Abeona Therapeutics during the 4th quarter worth approximately $112,000. Finally, Millennium Management LLC raised its holdings in Abeona Therapeutics by 20.3% during the 4th quarter. Millennium Management LLC now owns 825,996 shares of the biopharmaceutical company’s stock worth $278,000 after purchasing an additional 139,259 shares during the last quarter. Institutional investors and hedge funds own 27.03% of the company’s stock.

Abeona Therapeutics Company Profile (Get Rating)

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.

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