Abeona Therapeutics (NASDAQ:ABEO) Receives “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Abeona Therapeutics (NASDAQ:ABEO) in a report published on Thursday morning,Benzinga reports. HC Wainwright currently has a $20.00 target price on the biopharmaceutical company’s stock.

ABEO has been the topic of a number of other reports. Stifel Nicolaus set a $17.00 price target on Abeona Therapeutics in a report on Tuesday. Weiss Ratings reiterated a “sell (d+)” rating on shares of Abeona Therapeutics in a research note on Wednesday, January 21st. Finally, Oppenheimer reissued an “outperform” rating on shares of Abeona Therapeutics in a research report on Monday, March 9th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $19.00.

Abeona Therapeutics Trading Down 0.2%

NASDAQ ABEO opened at $4.54 on Thursday. Abeona Therapeutics has a one year low of $3.93 and a one year high of $7.54. The company has a debt-to-equity ratio of 0.05, a quick ratio of 9.53 and a current ratio of 6.93. The company has a market capitalization of $259.01 million, a price-to-earnings ratio of 4.41 and a beta of 1.13. The company’s 50-day simple moving average is $5.09 and its two-hundred day simple moving average is $5.22.

Abeona Therapeutics (NASDAQ:ABEO) last released its quarterly earnings data on Tuesday, March 17th. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.01. The business had revenue of $3.00 million for the quarter, compared to the consensus estimate of $5.65 million. Equities analysts forecast that Abeona Therapeutics will post -1.16 EPS for the current fiscal year.

Insider Activity at Abeona Therapeutics

In other news, CEO Vishwas Seshadri sold 69,832 shares of the business’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $5.33, for a total transaction of $372,204.56. Following the sale, the chief executive officer owned 1,460,408 shares in the company, valued at approximately $7,783,974.64. The trade was a 4.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joseph Walter Vazzano sold 18,666 shares of the company’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $5.33, for a total transaction of $99,489.78. Following the transaction, the chief financial officer owned 568,560 shares in the company, valued at approximately $3,030,424.80. This trade represents a 3.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 209,605 shares of company stock worth $1,101,300 over the last ninety days. Corporate insiders own 6.90% of the company’s stock.

Institutional Trading of Abeona Therapeutics

Large investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. acquired a new position in Abeona Therapeutics during the 2nd quarter valued at approximately $25,000. Legal & General Group Plc acquired a new stake in shares of Abeona Therapeutics during the second quarter worth $27,000. Russell Investments Group Ltd. purchased a new stake in shares of Abeona Therapeutics during the third quarter valued at $37,000. Truvestments Capital LLC grew its holdings in shares of Abeona Therapeutics by 191.4% during the fourth quarter. Truvestments Capital LLC now owns 10,307 shares of the biopharmaceutical company’s stock valued at $54,000 after buying an additional 6,770 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Abeona Therapeutics in the 4th quarter valued at $57,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Abeona Therapeutics Company Profile

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.