Regenxbio (RGNX) Price Target Raised to $84.00 at Bank of America

Regenxbio (NASDAQ:RGNX) had its target price hoisted by Bank of America from $76.00 to $84.00 in a research note issued to investors on Thursday. Bank of America currently has a neutral rating on the biotechnology company’s stock.

Other analysts have also issued reports about the company. ValuEngine lowered Regenxbio from a strong-buy rating to a buy rating in a report on Thursday, October 11th. Raymond James set a $96.00 target price on Regenxbio and gave the stock a buy rating in a report on Thursday. Barclays raised their price objective on Regenxbio from $48.00 to $83.00 and gave the company an overweight rating in a report on Monday, August 13th. BidaskClub lowered Regenxbio from a buy rating to a hold rating in a report on Friday, October 5th. Finally, Chardan Capital raised their price objective on Regenxbio from $90.00 to $130.00 and gave the company a buy rating in a report on Monday, July 16th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $84.07.

Regenxbio stock traded down $2.60 during midday trading on Thursday, hitting $66.37. 332,600 shares of the company were exchanged, compared to its average volume of 538,971. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of -27.09, a price-to-earnings-growth ratio of 13.98 and a beta of -0.49. Regenxbio has a fifty-two week low of $23.25 and a fifty-two week high of $85.10.

Regenxbio (NASDAQ:RGNX) last posted its earnings results on Wednesday, November 7th. The biotechnology company reported ($0.56) EPS for the quarter, topping the consensus estimate of ($0.86) by $0.30. The firm had revenue of $5.31 million for the quarter. Regenxbio had a return on equity of 28.70% and a net margin of 44.44%. On average, sell-side analysts anticipate that Regenxbio will post 1.64 earnings per share for the current fiscal year.

In other Regenxbio news, SVP Patrick J. Christmas sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $65.96, for a total value of $329,800.00. Following the sale, the senior vice president now directly owns 22,669 shares of the company’s stock, valued at $1,495,247.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kenneth T. Mills sold 7,510 shares of the firm’s stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $59.35, for a total value of $445,718.50. Following the completion of the sale, the chief executive officer now directly owns 331,710 shares in the company, valued at $19,686,988.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 286,585 shares of company stock worth $18,814,681. 16.90% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Regenxbio by 12.1% in the third quarter. BlackRock Inc. now owns 4,727,045 shares of the biotechnology company’s stock worth $356,893,000 after acquiring an additional 508,632 shares during the last quarter. RTW Investments LP boosted its stake in shares of Regenxbio by 10.7% in the second quarter. RTW Investments LP now owns 2,079,555 shares of the biotechnology company’s stock worth $149,208,000 after acquiring an additional 201,788 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Regenxbio by 12.6% in the third quarter. Bank of New York Mellon Corp now owns 359,415 shares of the biotechnology company’s stock worth $27,136,000 after acquiring an additional 40,085 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Regenxbio by 21.2% in the second quarter. Northern Trust Corp now owns 359,040 shares of the biotechnology company’s stock worth $25,762,000 after acquiring an additional 62,849 shares during the last quarter. Finally, Botty Investors LLC boosted its stake in shares of Regenxbio by 9.0% in the third quarter. Botty Investors LLC now owns 224,187 shares of the biotechnology company’s stock worth $16,926,000 after acquiring an additional 18,473 shares during the last quarter. 81.17% of the stock is currently owned by hedge funds and other institutional investors.

Regenxbio Company Profile

REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapy product candidates to deliver genes to cells to address genetic defects or to enable cells in the body to produce therapeutic proteins that are intended to impact disease. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus (AAV) gene delivery platform.

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Analyst Recommendations for Regenxbio (NASDAQ:RGNX)

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