HC Wainwright Reiterates Buy Rating for Abeona Therapeutics (NASDAQ:ABEO)

Abeona Therapeutics (NASDAQ:ABEO)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a report issued on Thursday, Benzinga reports. They currently have a $15.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price target would indicate a potential upside of 140.00% from the stock’s previous close.

A number of other equities research analysts have also weighed in on ABEO. StockNews.com upgraded shares of Abeona Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, September 10th. Cantor Fitzgerald restated an “overweight” rating and issued a $18.00 price objective on shares of Abeona Therapeutics in a report on Tuesday.

Abeona Therapeutics Price Performance

Abeona Therapeutics stock opened at $6.25 on Thursday. The firm has a market cap of $270.71 million, a PE ratio of -2.46 and a beta of 1.53. Abeona Therapeutics has a 52-week low of $3.05 and a 52-week high of $9.01. The company has a quick ratio of 7.48, a current ratio of 7.48 and a debt-to-equity ratio of 0.22. The company’s 50 day moving average is $6.04 and its two-hundred day moving average is $5.19.

Abeona Therapeutics (NASDAQ:ABEO) last released its earnings results on Monday, August 12th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.42). On average, research analysts expect that Abeona Therapeutics will post -1.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC grew its position in Abeona Therapeutics by 581.6% during the 2nd quarter. Renaissance Technologies LLC now owns 503,293 shares of the biopharmaceutical company’s stock worth $2,134,000 after purchasing an additional 429,456 shares during the last quarter. Simplify Asset Management Inc. purchased a new position in Abeona Therapeutics during the 2nd quarter worth $1,732,000. Acadian Asset Management LLC purchased a new position in Abeona Therapeutics during the 1st quarter worth $91,000. Bank of New York Mellon Corp grew its position in Abeona Therapeutics by 2.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 121,453 shares of the biopharmaceutical company’s stock worth $515,000 after purchasing an additional 2,434 shares during the last quarter. Finally, Rosalind Advisors Inc. grew its position in Abeona Therapeutics by 4.7% during the 3rd quarter. Rosalind Advisors Inc. now owns 1,832,000 shares of the biopharmaceutical company’s stock worth $11,578,000 after purchasing an additional 82,000 shares during the last quarter. 80.56% 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.