REGENXBIO (NASDAQ:RGNX) Price Target Cut to $47.00 by Analysts at Morgan Stanley

REGENXBIO (NASDAQ:RGNXGet Rating) had its price objective decreased by Morgan Stanley from $51.00 to $47.00 in a report issued on Tuesday, Stock Target Advisor reports. The firm presently has an “overweight” rating on the biotechnology company’s stock. Morgan Stanley’s price objective indicates a potential upside of 150.13% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Zacks Investment Research downgraded REGENXBIO from a “buy” rating to a “hold” rating in a report on Tuesday, May 10th. Chardan Capital reiterated a “buy” rating on shares of REGENXBIO in a report on Monday, April 11th. SVB Leerink cut their price objective 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. TheStreet cut REGENXBIO from a “c” rating to a “d+” rating in a research report on Monday, May 16th. Finally, StockNews.com initiated coverage on REGENXBIO in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $45.38.

RGNX stock traded down $0.77 during trading hours on Tuesday, hitting $18.79. 675 shares of the stock were exchanged, compared to its average volume of 418,912. The firm has a market capitalization of $810.49 million, a P/E ratio of 8.79 and a beta of 1.12. The company has a 50-day simple moving average of $28.03 and a two-hundred day simple moving average of $29.10. REGENXBIO has a 12 month low of $18.69 and a 12 month high of $46.46.

REGENXBIO (NASDAQ:RGNXGet Rating) last released its quarterly earnings data on Tuesday, March 1st. The biotechnology company reported $6.67 earnings per share for the quarter, beating the consensus estimate of $4.28 by $2.39. REGENXBIO had a return on equity of 17.92% and a net margin of 21.38%. The business had revenue of $398.66 million for the quarter, compared to analyst estimates of $255.76 million. During the same period last year, the firm posted ($1.24) earnings per share. REGENXBIO’s revenue was up 1759.0% compared to the same quarter last year. Equities research analysts anticipate that REGENXBIO will post -4.47 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in shares of REGENXBIO by 0.3% in the first quarter. BlackRock Inc. now owns 6,588,815 shares of the biotechnology company’s stock worth $218,683,000 after buying an additional 17,377 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of REGENXBIO by 20.9% in the fourth quarter. JPMorgan Chase & Co. now owns 5,004,773 shares of the biotechnology company’s stock worth $163,656,000 after buying an additional 864,447 shares during the period. Vanguard Group Inc. grew its stake in REGENXBIO by 0.4% in the first quarter. Vanguard Group Inc. now owns 4,070,462 shares of the biotechnology company’s stock worth $135,099,000 after purchasing an additional 16,496 shares in the last quarter. State Street Corp grew its stake in REGENXBIO by 6.6% in the first quarter. State Street Corp now owns 2,653,766 shares of the biotechnology company’s stock worth $88,078,000 after purchasing an additional 163,513 shares in the last quarter. Finally, RTW Investments LP boosted its position in REGENXBIO by 5.0% during the 3rd quarter. RTW Investments LP now owns 1,845,366 shares of the biotechnology company’s stock valued at $77,358,000 after acquiring an additional 87,623 shares in the last quarter. 87.57% of the stock is owned by institutional investors and hedge funds.

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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