Abeona Therapeutics Inc (NASDAQ:ABEO) Receives $19.25 Consensus Target Price from Analysts

Abeona Therapeutics Inc (NASDAQ:ABEO) has received an average recommendation of “Buy” from the five brokerages that are presently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $19.25.

ABEO has been the topic of several research reports. Alliance Global Partners reiterated a “buy” rating on shares of Abeona Therapeutics in a report on Thursday, May 15th. Stifel Nicolaus dropped their price objective on shares of Abeona Therapeutics from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, May 16th. Wall Street Zen cut shares of Abeona Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, May 15th. Oppenheimer assumed coverage on shares of Abeona Therapeutics in a research note on Monday, June 2nd. They set an “outperform” rating and a $19.00 price objective on the stock. Finally, HC Wainwright raised their price objective on shares of Abeona Therapeutics from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th.

Abeona Therapeutics Price Performance

Shares of NASDAQ:ABEO opened at $6.16 on Friday. Abeona Therapeutics has a twelve month low of $3.93 and a twelve month high of $7.32. The company’s 50 day moving average is $5.73 and its 200 day moving average is $5.58. The company has a current ratio of 6.12, a quick ratio of 6.12 and a debt-to-equity ratio of 0.31. The company has a market cap of $315.13 million, a PE ratio of -2.29 and a beta of 1.54.

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

Insider Activity

In other news, Director Mark Alvino sold 8,000 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $5.68, for a total transaction of $45,440.00. Following the transaction, the director now owns 92,435 shares in the company, valued at $525,030.80. This trade represents a 7.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Vishwas Seshadri sold 25,000 shares of the stock in a transaction that occurred on 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 $6,478,439.16. This trade represents a 1.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,941 shares of company stock worth $711,341 in the last quarter. Corporate insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ABEO. Adage Capital Partners GP L.L.C. lifted its holdings in Abeona Therapeutics by 20.1% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,902,360 shares of the biopharmaceutical company’s stock valued at $21,736,000 after purchasing an additional 652,366 shares in the last quarter. Western Standard LLC lifted its holdings in Abeona Therapeutics by 22.8% in the 4th quarter. Western Standard LLC now owns 2,084,418 shares of the biopharmaceutical company’s stock valued at $11,610,000 after purchasing an additional 386,321 shares in the last quarter. Jane Street Group LLC lifted its holdings in Abeona Therapeutics by 894.8% in the 4th quarter. Jane Street Group LLC now owns 131,478 shares of the biopharmaceutical company’s stock valued at $732,000 after purchasing an additional 118,262 shares in the last quarter. 683 Capital Management LLC lifted its holdings in Abeona Therapeutics by 17.3% in the 4th quarter. 683 Capital Management LLC now owns 791,845 shares of the biopharmaceutical company’s stock valued at $4,411,000 after purchasing an additional 116,845 shares in the last quarter. Finally, Newtyn Management LLC lifted its holdings in Abeona Therapeutics by 26.3% in the 1st quarter. Newtyn Management LLC now owns 480,000 shares of the biopharmaceutical company’s stock valued at $2,285,000 after purchasing an additional 100,000 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

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.