REGENXBIO Inc. (NASDAQ:RGNX) Expected to Earn Q2 2022 Earnings of ($1.60) Per Share

REGENXBIO Inc. (NASDAQ:RGNX – Get Rating) – Equities research analysts at Wedbush reduced their Q2 2022 earnings per share estimates for shares of REGENXBIO in a report issued on Thursday, May 5th. Wedbush analyst A. Argyrides now forecasts that the biotechnology company will post earnings of ($1.60) per share for the quarter, down from their previous estimate of ($1.37). Wedbush also issued estimates for REGENXBIO’s Q3 2022 earnings at ($1.53) EPS, Q4 2022 earnings at ($1.60) EPS, Q1 2023 earnings at ($1.58) EPS, Q2 2023 earnings at ($1.59) EPS, Q3 2023 earnings at ($1.53) EPS, Q4 2023 earnings at ($1.58) EPS, FY2023 earnings at ($6.28) EPS, FY2024 earnings at ($6.76) EPS, FY2025 earnings at ($7.67) EPS and FY2026 earnings at ($7.44) EPS.

REGENXBIO (NASDAQ:RGNX – Get Rating) last announced its quarterly earnings data on Tuesday, March 1st. The biotechnology company reported $6.67 earnings per share for the quarter, topping the consensus estimate of $4.28 by $2.39. The firm had revenue of $398.66 million during the quarter, compared to analysts’ expectations of $255.76 million. REGENXBIO had a return on equity of 17.92% and a net margin of 21.38%. The company’s quarterly revenue was up 1759.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.24) EPS.

A number of other analysts have also recently commented on RGNX. Morgan Stanley upped their price target on REGENXBIO from $50.00 to $51.00 and gave the company an “overweight” rating in a research note on Wednesday, March 23rd. Zacks Investment Research raised REGENXBIO from a “hold” rating to a “strong-buy” rating and set a $32.00 target price for the company in a research note on Thursday. StockNews.com started coverage on REGENXBIO in a research report on Thursday, March 31st. They set a “hold” rating for the company. Chardan Capital reaffirmed a “buy” rating on shares of REGENXBIO in a research report on Monday, April 11th. Finally, SVB Leerink cut their price objective on REGENXBIO from $29.00 to $25.00 and set a “market perform” rating for the company in a report on Wednesday, March 2nd. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $45.88.

Shares of NASDAQ:RGNX opened at $22.23 on Monday. The stock has a market capitalization of $955.58 million, a P/E ratio of 10.34 and a beta of 1.12. REGENXBIO has a 1-year low of $22.03 and a 1-year high of $46.46. The business has a 50-day moving average price of $29.75 and a two-hundred day moving average price of $30.37.

Several hedge funds and other institutional investors have recently modified their holdings of RGNX. Sofinnova Investments Inc. increased its position in shares of REGENXBIO by 690.1% in the fourth quarter. Sofinnova Investments Inc. now owns 1,008,081 shares of the biotechnology company’s stock worth $32,964,000 after purchasing an additional 880,488 shares during the period. JPMorgan Chase & Co. boosted its stake in REGENXBIO by 20.9% in the fourth quarter. JPMorgan Chase & Co. now owns 5,004,773 shares of the biotechnology company’s stock valued at $163,656,000 after buying an additional 864,447 shares in the last quarter. Norges Bank acquired a new stake in REGENXBIO in the fourth quarter valued at about $11,392,000. BlackRock Inc. boosted its stake in REGENXBIO by 3.3% in the fourth quarter. BlackRock Inc. now owns 6,571,438 shares of the biotechnology company’s stock valued at $214,884,000 after buying an additional 209,635 shares in the last quarter. Finally, Morgan Stanley boosted its stake in REGENXBIO by 77.8% in the second quarter. Morgan Stanley now owns 466,828 shares of the biotechnology company’s stock valued at $18,136,000 after buying an additional 204,340 shares in the last quarter. Institutional investors own 87.57% of the company’s stock.

REGENXBIO Company Profile (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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