Abeona Therapeutics Inc. (NASDAQ:ABEO) Receives $20.00 Consensus Price Target from Brokerages

Shares of Abeona Therapeutics Inc. (NASDAQ:ABEOGet Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the five ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $19.00.

Several equities analysts have recently weighed in on the company. Oppenheimer restated an “outperform” rating on shares of Abeona Therapeutics in a research report on Monday, March 9th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Abeona Therapeutics in a research report on Wednesday, January 21st. HC Wainwright reissued a “buy” rating and issued a $20.00 price objective on shares of Abeona Therapeutics in a research note on Tuesday, March 10th. Finally, Stifel Nicolaus set a $17.00 price objective on Abeona Therapeutics in a report on Tuesday.

View Our Latest Report on Abeona Therapeutics

Key Stories Impacting Abeona Therapeutics

Here are the key news stories impacting Abeona Therapeutics this week:

Abeona Therapeutics Stock Down 3.8%

ABEO opened at $4.76 on Friday. Abeona Therapeutics has a twelve month low of $3.93 and a twelve month high of $7.54. The company has a quick ratio of 9.53, a current ratio of 9.74 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average price of $5.11 and a 200 day moving average price of $5.23. The company has a market cap of $257.94 million, a PE ratio of 3.87 and a beta of 1.13.

Insiders Place Their Bets

In other news, Director Leila Alland sold 18,065 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $5.09, for a total value of $91,950.85. Following the completion of the sale, the director directly owned 173,614 shares in the company, valued at $883,695.26. This represents a 9.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Madhav Vasanthavada sold 12,610 shares of the business’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $5.29, for a total transaction of $66,706.90. Following the transaction, the insider owned 318,619 shares in the company, valued at $1,685,494.51. The trade was a 3.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 209,605 shares of company stock valued at $1,101,300. Corporate insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. AIGH Capital Management LLC acquired a new position in shares of Abeona Therapeutics during the 4th quarter worth approximately $10,540,000. Boone Capital Management LLC acquired a new stake in shares of Abeona Therapeutics in the second quarter valued at approximately $7,126,000. Tang Capital Management LLC purchased a new position in Abeona Therapeutics during the fourth quarter worth approximately $5,270,000. Geode Capital Management LLC lifted its position in Abeona Therapeutics by 129.1% during the second quarter. Geode Capital Management LLC now owns 1,105,862 shares of the biopharmaceutical company’s stock worth $6,282,000 after buying an additional 623,243 shares in the last quarter. Finally, Aberdeen Group plc acquired a new position in Abeona Therapeutics during the fourth quarter worth $3,248,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

About Abeona Therapeutics

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Abeona Therapeutics (NASDAQ:ABEO)

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