Abeona Therapeutics Inc. (NASDAQ:ABEO) Given Average Recommendation of “Moderate Buy” by Analysts

Abeona Therapeutics Inc. (NASDAQ:ABEO) has been given an average recommendation of “Moderate Buy” by the five brokerages that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $19.00.

Several equities analysts recently issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $20.00 price target on shares of Abeona Therapeutics in a report on Thursday, March 19th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Abeona Therapeutics in a report on Wednesday, January 21st. Oppenheimer reiterated an “outperform” rating on shares of Abeona Therapeutics in a report on Monday, March 9th. Finally, Stifel Nicolaus set a $17.00 target price on Abeona Therapeutics in a report on Tuesday, March 17th.

Insider Activity

In other Abeona Therapeutics news, Director Christine Berni Silverstein sold 20,070 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $5.09, for a total transaction of $102,156.30. Following the transaction, the director owned 137,722 shares in the company, valued at approximately $701,004.98. This trade represents a 12.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric Crombez sold 16,284 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $5.09, for a total value of $82,885.56. Following the transaction, the director owned 63,456 shares in the company, valued at approximately $322,991.04. This trade represents a 20.42% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 184,605 shares of company stock valued at $968,550. Insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On Abeona Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc bought a new position in Abeona Therapeutics during the second quarter worth about $27,000. Russell Investments Group Ltd. bought a new position in shares of Abeona Therapeutics during the 3rd quarter valued at about $37,000. Truvestments Capital LLC lifted its holdings in shares of Abeona Therapeutics by 191.4% during the 4th quarter. Truvestments Capital LLC now owns 10,307 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 6,770 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Abeona Therapeutics during the 4th quarter valued at about $57,000. Finally, Legato Capital Management LLC bought a new position in shares of Abeona Therapeutics during the 3rd quarter valued at about $57,000. Institutional investors own 80.56% of the company’s stock.

Abeona Therapeutics Price Performance

Abeona Therapeutics stock opened at $4.87 on Thursday. The business’s 50-day simple moving average is $4.90 and its 200 day simple moving average is $5.03. The stock has a market cap of $277.83 million, a price-to-earnings ratio of 4.73 and a beta of 1.22. Abeona Therapeutics has a 12-month low of $3.93 and a 12-month high of $7.54. The company has a quick ratio of 6.74, a current ratio of 6.93 and a debt-to-equity ratio of 0.05.

Abeona Therapeutics (NASDAQ:ABEO) last posted its quarterly earnings results on Tuesday, March 17th. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.01. The firm had revenue of $3.00 million during the quarter, compared to the consensus estimate of $5.65 million. As a group, research analysts anticipate that Abeona Therapeutics will post -1.16 earnings per share for the current year.

About Abeona Therapeutics

Abeona Therapeutics is a clinical‐stage biopharmaceutical company focused on the development and commercialization of gene and cell therapies for severe, life‐threatening rare diseases and oncology indications. Founded in 2014 and headquartered in Cleveland, Ohio, Abeona leverages proprietary viral and non‐viral delivery platforms to correct or compensate for underlying genetic deficiencies. The company’s research efforts target pediatric neurodegenerative disorders as well as debilitating dermatologic conditions with high unmet medical need.

The company’s lead clinical programs include separate AAV‐based gene therapies for CLN1 and CLN3 forms of neuronal ceroid lipofuscinosis, alongside an ex vivo autologous cell therapy for recessive dystrophic epidermolysis bullosa.