Analysts Set Abeona Therapeutics Inc. (NASDAQ:ABEO) Target Price at $19.50

Abeona Therapeutics Inc. (NASDAQ:ABEO) has earned a consensus recommendation of “Buy” from the five research firms that are covering the company, Marketbeat reports. Five investment analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have covered the stock in the last year is $19.50.

A number of equities research analysts have recently commented on the stock. Oppenheimer increased their price target on shares of Abeona Therapeutics from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, August 15th. HC Wainwright restated a “buy” rating and issued a $20.00 target price on shares of Abeona Therapeutics in a report on Monday, August 18th.

Abeona Therapeutics Trading Up 0.5%

NASDAQ:ABEO opened at $5.51 on Friday. The company’s 50 day moving average price is $6.55 and its 200-day moving average price is $5.92. Abeona Therapeutics has a 52 week low of $3.93 and a 52 week high of $7.54. The company has a quick ratio of 6.65, a current ratio of 6.73 and a debt-to-equity ratio of 0.09. The stock has a market cap of $282.55 million, a price-to-earnings ratio of 7.87 and a beta of 1.67.

Abeona Therapeutics (NASDAQ:ABEO) last posted its quarterly earnings results on Thursday, August 14th. The biopharmaceutical company reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $2.10. The firm had revenue of $0.40 million for the quarter, compared to analysts’ expectations of $21.71 million. On average, equities research analysts forecast that Abeona Therapeutics will post -1.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Vishwas Seshadri sold 69,420 shares of the firm’s stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $5.86, for a total value of $406,801.20. Following the sale, the chief executive officer owned 1,234,341 shares in the company, valued at approximately $7,233,238.26. This trade represents a 5.32% 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, 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 transaction of $76,724.98. Following the transaction, the director owned 77,252 shares in the company, valued at $452,696.72. This represents a 14.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 151,373 shares of company stock valued at $887,922 in the last ninety days. Corporate insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ABEO. Boone Capital Management LLC purchased a new position in shares of Abeona Therapeutics during the 2nd quarter worth $7,126,000. Geode Capital Management LLC boosted its stake in shares of Abeona Therapeutics by 129.1% during the 2nd quarter. Geode Capital Management LLC now owns 1,105,862 shares of the biopharmaceutical company’s stock worth $6,282,000 after acquiring an additional 623,243 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Abeona Therapeutics by 255.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 831,132 shares of the biopharmaceutical company’s stock worth $4,721,000 after acquiring an additional 597,373 shares during the last quarter. Nan Fung Trinity HK Ltd. purchased a new position in shares of Abeona Therapeutics during the 2nd quarter worth $3,185,000. Finally, AWM Investment Company Inc. purchased a new position in shares of Abeona Therapeutics during the 2nd quarter worth $2,670,000. Hedge funds and other institutional investors 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.