Cantor Fitzgerald Reaffirms Buy Rating for Abeona Therapeutics (ABEO)

Abeona Therapeutics (NASDAQ:ABEO)‘s stock had its “buy” rating reaffirmed by equities researchers at Cantor Fitzgerald in a note issued to investors on Saturday. They presently have a $36.00 price objective on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 163.74% from the stock’s current price.

A number of other research firms have also recently weighed in on ABEO. HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of Abeona Therapeutics in a report on Friday, April 20th. SunTrust Banks lowered their price target on shares of Abeona Therapeutics to $23.00 and set a “positive” rating on the stock in a report on Wednesday, May 16th. BidaskClub upgraded shares of Abeona Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, April 14th. Maxim Group set a $35.00 price target on shares of Abeona Therapeutics and gave the company a “buy” rating in a report on Monday, May 14th. Finally, ValuEngine upgraded shares of Abeona Therapeutics from a “hold” rating to a “buy” rating in a report on Friday, June 1st. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $28.30.

Shares of NASDAQ:ABEO traded down $0.90 during trading on Friday, reaching $13.65. The stock had a trading volume of 406,840 shares, compared to its average volume of 496,987. Abeona Therapeutics has a one year low of $7.01 and a one year high of $22.75. The stock has a market capitalization of $688.29 million, a P/E ratio of -20.68 and a beta of 1.37.

Abeona Therapeutics (NASDAQ:ABEO) last released its quarterly earnings results on Friday, August 10th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.06). Abeona Therapeutics had a negative net margin of 881.74% and a negative return on equity of 23.74%. The firm had revenue of $0.82 million during the quarter, compared to the consensus estimate of $1.81 million. equities analysts expect that Abeona Therapeutics will post -0.71 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. FMR LLC boosted its stake in Abeona Therapeutics by 47.7% in the 2nd quarter. FMR LLC now owns 7,094,307 shares of the biopharmaceutical company’s stock worth $113,509,000 after purchasing an additional 2,291,016 shares in the last quarter. BlackRock Inc. boosted its stake in Abeona Therapeutics by 16.6% in the 2nd quarter. BlackRock Inc. now owns 2,184,506 shares of the biopharmaceutical company’s stock worth $34,951,000 after purchasing an additional 311,034 shares in the last quarter. Millennium Management LLC boosted its stake in Abeona Therapeutics by 2,357.3% in the 1st quarter. Millennium Management LLC now owns 916,256 shares of the biopharmaceutical company’s stock worth $13,148,000 after purchasing an additional 878,969 shares in the last quarter. Nexthera Capital LP acquired a new stake in Abeona Therapeutics in the 1st quarter worth approximately $5,302,000. Finally, Northern Trust Corp boosted its stake in Abeona Therapeutics by 1.3% in the 1st quarter. Northern Trust Corp now owns 304,434 shares of the biopharmaceutical company’s stock worth $4,369,000 after purchasing an additional 3,941 shares in the last quarter. Institutional investors own 69.24% of the company’s stock.

About Abeona Therapeutics

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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