Citigroup Inc. began coverage on shares of Abeona Therapeutics Inc. (NASDAQ:ABEO) in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $32.00 target price on the biopharmaceutical company’s stock.
A number of other research analysts have also commented on the stock. BidaskClub upgraded shares of Abeona Therapeutics from a buy rating to a strong-buy rating in a research report on Wednesday, July 12th. Cantor Fitzgerald set a $21.00 price target on shares of Abeona Therapeutics and gave the company a buy rating in a research report on Tuesday, July 18th. Maxim Group set a $17.00 price target on shares of Abeona Therapeutics and gave the company a buy rating in a research report on Tuesday, August 29th. Zacks Investment Research upgraded shares of Abeona Therapeutics from a hold rating to a buy rating and set a $10.00 price target for the company in a research report on Tuesday, July 11th. Finally, HC Wainwright restated a buy rating and set a $20.00 price target on shares of Abeona Therapeutics in a research report on Thursday, August 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $21.44.
Abeona Therapeutics (ABEO) traded down 2.79% during midday trading on Tuesday, reaching $17.06. The company’s stock had a trading volume of 244,999 shares. The company’s market cap is $687.30 million. Abeona Therapeutics has a 12 month low of $4.05 and a 12 month high of $22.75. The stock has a 50-day moving average price of $15.16 and a 200 day moving average price of $8.64.
Abeona Therapeutics (NASDAQ:ABEO) last released its quarterly earnings results on Tuesday, August 15th. The biopharmaceutical company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.07). The firm had revenue of $0.22 million for the quarter, compared to analysts’ expectations of $0.21 million. Abeona Therapeutics had a negative net margin of 2,746.38% and a negative return on equity of 26.66%. Analysts expect that Abeona Therapeutics will post ($0.70) earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in ABEO. Family Management Corp purchased a new position in Abeona Therapeutics in the first quarter worth $120,000. State of Wisconsin Investment Board purchased a new position in Abeona Therapeutics in the second quarter worth $122,000. Rhumbline Advisers purchased a new position in Abeona Therapeutics in the second quarter worth $190,000. Bank of New York Mellon Corp grew its position in Abeona Therapeutics by 125.8% in the first quarter. Bank of New York Mellon Corp now owns 41,929 shares of the biopharmaceutical company’s stock worth $210,000 after acquiring an additional 23,358 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. purchased a new position in Abeona Therapeutics in the second quarter worth $264,000. Institutional investors own 38.38% of the company’s stock.
Abeona Therapeutics Company Profile
Abeona Therapeutics Inc is a clinical-stage biopharmaceutical company developing novel gene therapies for life-threatening rare genetic diseases. The Company’s lead programs include ABO-102 (AAV-SGSH), an adeno-associated virus (AAV) based gene therapy for Sanfilippo syndrome type A (MPS IIIA) and EB-101 (gene-corrected skin grafts) for recessive dystrophic epidermolysis bullosa (RDEB).
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