Abeona Therapeutics (ABEO) Stock Rating Reaffirmed by Cantor Fitzgerald

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Abeona Therapeutics (NASDAQ:ABEO)‘s stock had its “buy” rating reiterated by stock analysts at Cantor Fitzgerald in a report issued on Tuesday, AnalystRatings.com reports. They presently have a $29.00 target price on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 298.35% from the stock’s current price.

The analysts wrote, “: We are reiterating our OW rating and $29 12-month price target on Abeona following 1Q19 earnings. Abeona announced the CMC work for the Phase 3 VITAL study in EB-101 for the treatment of recessive dystrophic epidermolysis bullosa (RDEB) has been completed. The trial could initiate in mid-2019, following the completion of the last checkbox regarding an ongoing FDA review. While specific timeline guidance has not been provided, pre-screening has begun, which could support a more rapid enrollment. Additionally, the company expects to announce interim data from the Sanfilippo Phase 1/2 studies.””

A number of other equities research analysts have also recently commented on ABEO. BidaskClub upgraded shares of Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Thursday, May 9th. Zacks Investment Research upgraded shares of Abeona Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. HC Wainwright reiterated a “buy” rating on shares of Abeona Therapeutics in a research report on Monday, May 6th. Maxim Group reiterated a “buy” rating on shares of Abeona Therapeutics in a research report on Wednesday, May 1st. Finally, ValuEngine upgraded shares of Abeona Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. Abeona Therapeutics currently has an average rating of “Buy” and an average price target of $26.00.

Shares of NASDAQ ABEO opened at $7.28 on Tuesday. The stock has a market capitalization of $357.90 million, a PE ratio of -6.12 and a beta of 1.92. The company has a quick ratio of 4.37, a current ratio of 3.35 and a debt-to-equity ratio of 0.06. Abeona Therapeutics has a 52 week low of $6.26 and a 52 week high of $21.45.

Abeona Therapeutics (NASDAQ:ABEO) last issued its earnings results on Monday, March 18th. The biopharmaceutical company reported ($0.36) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.42) by $0.06. The business had revenue of $0.50 million during the quarter, compared to analysts’ expectations of $1.66 million. Abeona Therapeutics had a negative net margin of 960.91% and a negative return on equity of 45.58%. As a group, equities research analysts predict that Abeona Therapeutics will post -1.47 EPS for the current fiscal year.

In other news, Director Stefano Buono acquired 70,000 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The stock was purchased at an average price of $7.80 per share, with a total value of $546,000.00. Following the completion of the acquisition, the director now owns 20,980 shares of the company’s stock, valued at approximately $163,644. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen B. Howell acquired 4,000 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was purchased at an average cost of $7.77 per share, with a total value of $31,080.00. Following the acquisition, the director now directly owns 6,000 shares of the company’s stock, valued at approximately $46,620. The disclosure for this purchase can be found here. Corporate insiders own 33.60% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its stake in Abeona Therapeutics by 3.6% during the first quarter. Wellington Management Group LLP now owns 4,216,678 shares of the biopharmaceutical company’s stock worth $31,034,000 after buying an additional 145,823 shares during the period. BlackRock Inc. boosted its stake in Abeona Therapeutics by 4.5% during the first quarter. BlackRock Inc. now owns 2,322,373 shares of the biopharmaceutical company’s stock worth $17,092,000 after buying an additional 100,073 shares during the period. Vanguard Group Inc boosted its stake in Abeona Therapeutics by 7.6% during the third quarter. Vanguard Group Inc now owns 1,539,008 shares of the biopharmaceutical company’s stock worth $19,699,000 after buying an additional 108,333 shares during the period. Vanguard Group Inc. boosted its stake in Abeona Therapeutics by 7.6% during the third quarter. Vanguard Group Inc. now owns 1,539,008 shares of the biopharmaceutical company’s stock worth $19,699,000 after buying an additional 108,333 shares during the period. Finally, Millennium Management LLC boosted its stake in Abeona Therapeutics by 48.6% during the fourth quarter. Millennium Management LLC now owns 1,005,483 shares of the biopharmaceutical company’s stock worth $7,179,000 after buying an additional 328,750 shares during the period. 67.53% of the stock is owned by hedge funds and other institutional investors.

Abeona Therapeutics Company Profile

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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Analyst Recommendations for Abeona Therapeutics (NASDAQ:ABEO)

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