Stifel Nicolaus Issues Pessimistic Forecast for Abeona Therapeutics (NASDAQ:ABEO) Stock Price

Abeona Therapeutics (NASDAQ:ABEO) had its price target dropped by analysts at Stifel Nicolaus from $21.00 to $20.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 227.87% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. HC Wainwright boosted their price target on shares of Abeona Therapeutics from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Oppenheimer began coverage on shares of Abeona Therapeutics in a research note on Wednesday, March 5th. They set an “outperform” rating and a $16.00 price objective on the stock. Finally, StockNews.com lowered shares of Abeona Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.50.

Abeona Therapeutics Stock Performance

NASDAQ ABEO opened at $6.10 on Friday. The company has a 50 day moving average of $5.18 and a 200-day moving average of $5.55. The company has a current ratio of 6.12, a quick ratio of 6.12 and a debt-to-equity ratio of 0.31. Abeona Therapeutics has a 1-year low of $3.93 and a 1-year high of $7.32. The firm has a market cap of $297.68 million, a price-to-earnings ratio of -2.27 and a beta of 1.68.

Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings results on Thursday, May 15th. The biopharmaceutical company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.11. On average, equities analysts forecast that Abeona Therapeutics will post -1.16 earnings per share for the current fiscal year.

Insider Transactions at Abeona Therapeutics

In related news, CEO Vishwas Seshadri sold 25,000 shares of the company’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $4.78, for a total value of $119,500.00. Following the transaction, the chief executive officer now owns 1,355,322 shares in the company, valued at approximately $6,478,439.16. This represents a 1.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Alvino sold 8,000 shares of the company’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $5.68, for a total transaction of $45,440.00. Following the completion of the transaction, the director now owns 92,435 shares in the company, valued at approximately $525,030.80. This trade represents a 7.97% decrease in their position. The disclosure for this sale can be found here. 6.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP acquired a new position in Abeona Therapeutics in the 4th quarter valued at about $520,000. Trexquant Investment LP acquired a new position in Abeona Therapeutics in the 4th quarter valued at about $382,000. JPMorgan Chase & Co. grew its position in shares of Abeona Therapeutics by 74.2% during the 3rd 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 in the last quarter. 683 Capital Management LLC grew its position in shares of Abeona Therapeutics by 17.3% during the 4th quarter. 683 Capital Management LLC now owns 791,845 shares of the biopharmaceutical company’s stock worth $4,411,000 after purchasing an additional 116,845 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its position in shares of Abeona Therapeutics by 20.1% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,902,360 shares of the biopharmaceutical company’s stock worth $21,736,000 after purchasing an additional 652,366 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Abeona Therapeutics Company Profile

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.