Abeona Therapeutics (NASDAQ:ABEO) Given Buy Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Abeona Therapeutics (NASDAQ:ABEO) in a research note released on Monday,Benzinga reports. HC Wainwright currently has a $20.00 price objective on the biopharmaceutical company’s stock.

ABEO has been the topic of a number of other research reports. Wall Street Zen cut Abeona Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, May 15th. Oppenheimer lifted their target price on Abeona Therapeutics from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday. Alliance Global Partners reissued a “buy” rating on shares of Abeona Therapeutics in a research report on Thursday, May 15th. Finally, Stifel Nicolaus dropped their target price on Abeona Therapeutics from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Abeona Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $19.50.

Abeona Therapeutics Price Performance

Abeona Therapeutics stock opened at $6.91 on Monday. The company has a quick ratio of 4.90, a current ratio of 4.90 and a debt-to-equity ratio of 0.27. Abeona Therapeutics has a 12-month low of $3.93 and a 12-month high of $7.54. The stock has a market cap of $354.34 million, a price-to-earnings ratio of 9.87 and a beta of 1.55. The business’s 50-day simple moving average is $6.24 and its 200 day simple moving average is $5.76.

Abeona Therapeutics (NASDAQ:ABEO) last issued its earnings results on Thursday, August 14th. The biopharmaceutical company reported $1.71 earnings per share (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 the consensus estimate of $21.71 million. As a group, research analysts anticipate that Abeona Therapeutics will post -1.16 earnings per share for the current year.

Insiders Place Their Bets

In other Abeona Therapeutics news, Director Mark Alvino sold 13,093 shares of Abeona Therapeutics stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $5.86, for a total value of $76,724.98. Following the completion of the transaction, the director directly owned 77,252 shares of the company’s stock, valued at $452,696.72. The trade was a 14.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Faith L. Charles sold 10,738 shares of Abeona Therapeutics stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $5.86, for a total value of $62,924.68. Following the completion of the transaction, the director directly owned 139,094 shares of the company’s stock, valued at $815,090.84. This represents a 7.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 231,626 shares of company stock worth $1,430,587 over the last three months. 5.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Abeona Therapeutics

A number of institutional investors have recently modified their holdings of ABEO. Jane Street Group LLC grew its position in shares of 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 buying an additional 118,262 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of Abeona Therapeutics in the 4th quarter valued at about $520,000. Squarepoint Ops LLC bought a new stake in shares of Abeona Therapeutics during the 4th quarter valued at about $67,000. Northern Trust Corp boosted its position in shares of Abeona Therapeutics by 6.6% during the 4th quarter. Northern Trust Corp now owns 184,929 shares of the biopharmaceutical company’s stock valued at $1,030,000 after purchasing an additional 11,478 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Abeona Therapeutics by 16.7% during the 4th quarter. Bank of America Corp DE now owns 264,439 shares of the biopharmaceutical company’s stock valued at $1,473,000 after purchasing an additional 37,774 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.