Abeona Therapeutics (NASDAQ:ABEO) Price Target Raised to $20.00 at Oppenheimer
Oppenheimer has raised its price target for Abeona Therapeutics (NASDAQ:ABEO) from $19.00 to $20.00, maintaining an "outperform" rating. This suggests a potential upside of 177.93% from the current stock price of $7.20. Other analysts have mixed views, with one downgrading the stock to "sell" while others maintain "buy" ratings. Abeona's recent earnings report showed a significant EPS beat, but revenue fell short of expectations. Insider trading activity has also been noted, with CFO and Director selling shares recently.
Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) had its price objective boosted by investment analysts at Oppenheimer from $19.00 to $20.00 in a research note issued on Friday,Benzinga reports. The firm presently has an "outperform" rating on the biopharmaceutical company's stock. Oppenheimer's target price would suggest a potential upside of 177.93% from the stock's current price.
A number of other analysts have also recently weighed in on the company. Wall Street Zen cut Abeona Therapeutics from a "hold" rating to a "sell" rating in a research note on Thursday, May 15th. Alliance Global Partners restated a "buy" rating on shares of Abeona Therapeutics in a research note on Thursday, May 15th. Stifel Nicolaus cut their price target on Abeona Therapeutics from $21.00 to $20.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Finally, HC Wainwright restated a "buy" rating and issued a $20.00 price target on shares of Abeona Therapeutics in a research note on Monday, July 14th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Abeona Therapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $19.50.
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Abeona Therapeutics Stock Down 0.5%
NASDAQ:ABEO traded down $0.03 during midday trading on Friday, reaching $7.20. The company had a trading volume of 443,058 shares, compared to its average volume of 1,024,247. The firm has a market capitalization of $368.15 million, a price-to-earnings ratio of -5.70 and a beta of 1.55. The stock's fifty day simple moving average is $6.23 and its 200-day simple moving average is $5.73. Abeona Therapeutics has a 12-month low of $3.93 and a 12-month high of $7.54. The company has a current ratio of 4.90, a quick ratio of 4.90 and a debt-to-equity ratio of 0.27.
Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last released its earnings results on Thursday, August 14th. The biopharmaceutical company reported $1.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.39) by $2.10. The company had revenue of $0.40 million during the quarter, compared to analysts' expectations of $21.71 million. On average, sell-side analysts anticipate that Abeona Therapeutics will post -1.16 earnings per share for the current fiscal year.
Insider Buying and Selling at Abeona Therapeutics
In other news, CFO Joseph Walter Vazzano sold 25,411 shares of Abeona Therapeutics stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $5.86, for a total transaction of $148,908.46. Following the sale, the chief financial officer owned 479,168 shares in the company, valued at approximately $2,807,924.48. The trade was a 5.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Faith L. Charles sold 10,738 shares of Abeona Therapeutics stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $5.86, for a total value of $62,924.68. Following the sale, the director owned 139,094 shares in the company, valued at $815,090.84. This trade represents a 7.17% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 231,626 shares of company stock valued at $1,430,587. 6.90% of the stock is owned by insiders.
Institutional Trading of Abeona Therapeutics
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets acquired a new stake in shares of Abeona Therapeutics during the second quarter worth about $749,000. Boone Capital Management LLC acquired a new stake in shares of Abeona Therapeutics during the second quarter worth about $7,126,000. Bank of America Corp DE increased its position in shares of Abeona Therapeutics by 154.9% during the second quarter. Bank of America Corp DE now owns 329,884 shares of the biopharmaceutical company's stock worth $1,874,000 after purchasing an additional 200,469 shares in the last quarter. 683 Capital Management LLC increased its position in Abeona Therapeutics by 11.1% in the 2nd quarter. 683 Capital Management LLC now owns 750,000 shares of the biopharmaceutical company's stock valued at $4,260,000 after acquiring an additional 75,000 shares during the period. Finally, Adage Capital Partners GP L.L.C. increased its position in Abeona Therapeutics by 14.2% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 3,072,985 shares of the biopharmaceutical company's stock valued at $17,455,000 after acquiring an additional 381,357 shares during the period. Institutional investors and hedge funds own 80.56% of the company's stock.
About Abeona Therapeutics
(Get Free Report)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.
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