REGENXBIO Inc. to Post FY2023 Earnings of ($5.80) Per Share, Wedbush Forecasts (NASDAQ:RGNX)

REGENXBIO Inc. (NASDAQ:RGNX) – Analysts at Wedbush upped their FY2023 EPS estimates for shares of REGENXBIO in a research note issued to investors on Tuesday, November 14th. Wedbush analyst A. Argyrides now anticipates that the biotechnology company will post earnings per share of ($5.80) for the year, up from their prior forecast of ($6.42). Wedbush has a “Neutral” rating and a $20.00 price target on the stock. The consensus estimate for REGENXBIO’s current full-year earnings is ($5.07) per share. Wedbush also issued estimates for REGENXBIO’s Q4 2023 earnings at ($1.20) EPS, FY2024 earnings at ($4.64) EPS, FY2025 earnings at ($4.32) EPS, FY2026 earnings at ($4.18) EPS and FY2027 earnings at ($3.72) EPS.

REGENXBIO (NASDAQ:RGNX) last released its quarterly earnings data on Wednesday, November 8th. The biotechnology company reported ($1.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.44) by $0.03. The business had revenue of $28.90 million during the quarter, compared to analyst estimates of $26.14 million. REGENXBIO had a negative net margin of 262.18% and a negative return on equity of 59.54%. REGENXBIO’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the business earned ($1.75) EPS.

RGNX has been the subject of a number of other reports. Morgan Stanley reduced their price objective on shares of REGENXBIO from $43.00 to $42.00 and set an “overweight” rating for the company in a research note on Tuesday, August 29th. Chardan Capital reiterated a “buy” rating and issued a $55.00 price target on shares of REGENXBIO in a research note on Thursday, August 3rd. StockNews.com started coverage on shares of REGENXBIO in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Stifel Nicolaus started coverage on shares of REGENXBIO in a research note on Wednesday, November 1st. They issued a “buy” rating and a $35.00 price target for the company. Finally, William Blair reiterated a “neutral” rating and issued a $21.00 price target (up from $20.00) on shares of REGENXBIO in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $31.13.

REGENXBIO Stock Performance

NASDAQ:RGNX opened at $18.86 on Thursday. The firm has a market cap of $829.65 million, a P/E ratio of -3.15 and a beta of 1.12. REGENXBIO has a fifty-two week low of $12.82 and a fifty-two week high of $25.54. The firm has a 50-day simple moving average of $16.55 and a two-hundred day simple moving average of $18.08.

Institutional Trading of REGENXBIO

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in REGENXBIO by 20.3% during the first quarter. BlackRock Inc. now owns 8,040,790 shares of the biotechnology company’s stock valued at $152,051,000 after purchasing an additional 1,354,440 shares in the last quarter. Redmile Group LLC lifted its holdings in shares of REGENXBIO by 27.0% in the third quarter. Redmile Group LLC now owns 2,574,042 shares of the biotechnology company’s stock worth $42,369,000 after buying an additional 547,466 shares in the last quarter. WS Management Lllp lifted its holdings in shares of REGENXBIO by 100.4% in the second quarter. WS Management Lllp now owns 795,778 shares of the biotechnology company’s stock worth $15,908,000 after buying an additional 398,781 shares in the last quarter. ExodusPoint Capital Management LP raised its stake in REGENXBIO by 358.7% during the second quarter. ExodusPoint Capital Management LP now owns 490,601 shares of the biotechnology company’s stock valued at $9,807,000 after purchasing an additional 383,658 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in REGENXBIO by 320.0% during the second quarter. Goldman Sachs Group Inc. now owns 500,125 shares of the biotechnology company’s stock valued at $12,353,000 after purchasing an additional 381,047 shares in the last quarter. 88.80% of the stock is currently owned by institutional investors.

REGENXBIO Company Profile

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.