Abeona Therapeutics’ (ABEO) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Abeona Therapeutics (NASDAQ:ABEO) in a research report sent to investors on Monday morning,Benzinga reports. They currently have a $20.00 price objective on the biopharmaceutical company’s stock.

Other analysts also recently issued reports about the company. Oppenheimer boosted their target price on Abeona Therapeutics from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, August 15th. Weiss Ratings reissued a “hold (c-)” rating on shares of Abeona Therapeutics in a report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Abeona Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.50.

Abeona Therapeutics Stock Up 0.9%

Abeona Therapeutics stock opened at $5.41 on Monday. Abeona Therapeutics has a fifty-two week low of $3.93 and a fifty-two week high of $7.54. The company has a debt-to-equity ratio of 0.09, a quick ratio of 6.65 and a current ratio of 6.73. The company has a market capitalization of $277.42 million, a P/E ratio of 7.73 and a beta of 1.42. The stock has a 50-day simple moving average of $6.22 and a 200-day simple moving average of $5.95.

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

Insider Buying and Selling at Abeona Therapeutics

In other Abeona Therapeutics news, SVP Brendan M. O’malley sold 9,366 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $5.39, for a total transaction of $50,482.74. Following the completion of the sale, the senior vice president directly owned 350,763 shares of the company’s stock, valued at $1,890,612.57. This represents a 2.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Joseph Walter Vazzano sold 9,035 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $5.39, for a total value of $48,698.65. Following the sale, the chief financial officer directly owned 453,631 shares of the company’s stock, valued at approximately $2,445,071.09. This represents a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,865 shares of company stock valued at $347,777 in the last ninety days. Insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Abeona Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in ABEO. Boone Capital Management LLC acquired a new position in Abeona Therapeutics during the 2nd quarter worth approximately $7,126,000. Geode Capital Management LLC increased its position in 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 purchasing an additional 623,243 shares during the period. JPMorgan Chase & Co. increased its position in 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 purchasing an additional 597,373 shares during the period. Nan Fung Trinity HK Ltd. acquired a new position in Abeona Therapeutics during the 2nd quarter worth approximately $3,185,000. Finally, AWM Investment Company Inc. acquired a new position in Abeona Therapeutics during the 2nd quarter worth approximately $2,670,000. Institutional investors and hedge funds 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.