HC Wainwright Forecasts Strong Price Appreciation for Abeona Therapeutics (NASDAQ:ABEO) Stock

Abeona Therapeutics (NASDAQ:ABEO) had its price objective boosted by analysts at HC Wainwright from $15.00 to $20.00 in a research report issued on Wednesday, Marketbeat.com reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective would indicate a potential upside of 191.12% from the stock’s current price.

ABEO has been the topic of several other reports. Oppenheimer assumed coverage on shares of Abeona Therapeutics in a research report on Wednesday, March 5th. They set an “outperform” rating and a $16.00 price target on the stock. StockNews.com upgraded Abeona Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, March 24th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $18.75.

Abeona Therapeutics Stock Performance

Shares of Abeona Therapeutics stock opened at $6.87 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.12 and a quick ratio of 6.12. The firm has a market cap of $335.26 million, a price-to-earnings ratio of -2.55 and a beta of 1.71. The stock’s 50-day moving average is $5.06 and its 200-day moving average is $5.62. Abeona Therapeutics has a one year low of $3.84 and a one year high of $7.32.

Abeona Therapeutics (NASDAQ:ABEO) last released its quarterly earnings results on Thursday, March 20th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.19. Equities analysts predict that Abeona Therapeutics will post -1.16 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Vishwas Seshadri sold 25,000 shares of Abeona Therapeutics stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $4.78, for a total transaction of $119,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,355,322 shares in the company, valued at approximately $6,478,439.16. The trade was a 1.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Abeona Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ABEO. Wellington Management Group LLP acquired a new stake in shares of Abeona Therapeutics during the 4th quarter worth about $520,000. Trexquant Investment LP acquired a new stake in Abeona Therapeutics during the fourth quarter worth approximately $382,000. Jane Street Group LLC acquired a new position in shares of Abeona Therapeutics in the third quarter valued at approximately $84,000. JPMorgan Chase & Co. increased its stake in shares of Abeona Therapeutics by 74.2% during the third quarter. JPMorgan Chase & Co. now owns 67,138 shares of the biopharmaceutical company’s stock worth $424,000 after purchasing an additional 28,606 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Abeona Therapeutics by 21.7% during the 3rd quarter. Geode Capital Management LLC now owns 465,317 shares of the biopharmaceutical company’s stock worth $2,942,000 after purchasing an additional 83,050 shares during the last quarter. 80.56% of the stock is owned by institutional investors.

About Abeona Therapeutics

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.