Abeona Therapeutics’ (ABEO) “Overweight” Rating Reiterated at Cantor Fitzgerald

Abeona Therapeutics (NASDAQ:ABEO)‘s stock had its “overweight” rating reaffirmed by investment analysts at Cantor Fitzgerald in a note issued to investors on Friday, Benzinga reports. They currently have a $18.00 price target on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective indicates a potential upside of 207.17% from the stock’s current price.

Several other research firms also recently issued reports on ABEO. StockNews.com raised shares of Abeona Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, September 10th. Stifel Nicolaus started coverage on Abeona Therapeutics in a research report on Thursday, May 30th. They issued a “buy” rating and a $21.00 price target on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $15.00 price objective on shares of Abeona Therapeutics in a report on Wednesday, August 14th.

Abeona Therapeutics Stock Performance

ABEO traded up $0.06 during trading on Friday, reaching $5.86. 137,602 shares of the company’s stock were exchanged, compared to its average volume of 465,403. The business has a 50 day moving average price of $5.22 and a 200 day moving average price of $5.48. The company has a market capitalization of $240.04 million, a P/E ratio of -1.83 and a beta of 1.53. Abeona Therapeutics has a fifty-two week low of $3.05 and a fifty-two 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.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Simplify Asset Management Inc. acquired a new position in Abeona Therapeutics during the second quarter worth $1,732,000. Renaissance Technologies LLC boosted its stake in shares of 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 buying an additional 429,456 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of 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 buying an additional 2,434 shares during the last quarter. Rosalind Advisors Inc. bought a new position in shares of Abeona Therapeutics in the 2nd quarter valued at about $7,420,000. Finally, Western Standard LLC increased its position in shares of Abeona Therapeutics by 68.5% in the first quarter. Western Standard LLC now owns 1,361,489 shares of the biopharmaceutical company’s stock valued at $9,871,000 after acquiring an additional 553,377 shares during the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

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.