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

Abeona Therapeutics (NASDAQ:ABEO) had its price objective hoisted by research analysts at Oppenheimer from $19.00 to $20.00 in a report released on Friday,Benzinga reports. The firm currently has an “outperform” rating on the biopharmaceutical company’s stock. Oppenheimer’s price target points to a potential upside of 180.50% from the stock’s previous close.

A number of other equities research analysts have also recently commented on ABEO. Stifel Nicolaus decreased their price objective on Abeona Therapeutics from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, May 16th. Wall Street Zen cut Abeona Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, May 15th. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of Abeona Therapeutics in a research note on Monday, July 14th. Finally, Alliance Global Partners reissued a “buy” rating on shares of Abeona Therapeutics in a research note on Thursday, May 15th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.50.

Abeona Therapeutics Stock Down 1.4%

ABEO opened at $7.13 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.90 and a quick ratio of 4.90. Abeona Therapeutics has a fifty-two week low of $3.93 and a fifty-two week high of $7.54. The business has a 50-day moving average of $6.23 and a 200-day moving average of $5.75. The company has a market capitalization of $364.77 million, a PE ratio of 10.19 and a beta of 1.55.

Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings data on Thursday, August 14th. The biopharmaceutical company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $2.10. The company had revenue of $0.40 million for the quarter, compared to analyst estimates of $21.71 million. Equities research analysts forecast that Abeona Therapeutics will post -1.16 EPS for the current fiscal year.

Insider Transactions at Abeona Therapeutics

In other news, CFO Joseph Walter Vazzano sold 25,411 shares of the business’s stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $5.86, for a total value of $148,908.46. Following the sale, the chief financial officer owned 479,168 shares of the company’s stock, valued at $2,807,924.48. The trade was a 5.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Vishwas Seshadri sold 69,420 shares of the business’s stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $5.86, for a total transaction of $406,801.20. Following the completion of the sale, the chief executive officer directly owned 1,234,341 shares in the company, valued at approximately $7,233,238.26. This represents a 5.32% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 231,626 shares of company stock valued at $1,430,587. Insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. acquired a new stake in shares of Abeona Therapeutics in the second quarter valued at approximately $25,000. Legal & General Group Plc acquired a new stake in shares of Abeona Therapeutics in the second quarter valued at approximately $27,000. Twinbeech Capital LP acquired a new stake in shares of Abeona Therapeutics in the fourth quarter valued at approximately $58,000. Riverwater Partners LLC acquired a new stake in shares of Abeona Therapeutics in the second quarter valued at approximately $62,000. Finally, Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Abeona Therapeutics in the second quarter valued at approximately $63,000. 80.56% of the stock is owned by institutional investors and hedge funds.

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.