Zacks Investment Research lowered shares of Abeona Therapeutics Inc. (NASDAQ:ABEO) from a buy rating to a hold rating in a research note published on Thursday morning.
According to Zacks, “Abeona Therapeutics, Inc. is engaged in developing and delivering gene therapy and plasma-based products for rare diseases. Abeona Therapeutics Inc., formerly known as PlasmaTech Biopharmaceuticals, Inc., is based in Dallas, United States. “
Several other equities research analysts have also recently issued reports on ABEO. HC Wainwright reaffirmed a buy rating and set a $30.00 price objective on shares of Abeona Therapeutics in a research report on Wednesday, November 22nd. Maxim Group set a $17.00 price objective on shares of Abeona Therapeutics and gave the stock a buy rating in a research report on Wednesday, August 16th. Jefferies Group LLC reissued a buy rating and issued a $28.00 price target on shares of Abeona Therapeutics in a research report on Wednesday, November 22nd. BidaskClub cut shares of Abeona Therapeutics from a buy rating to a hold rating in a research report on Wednesday, August 2nd. Finally, Royal Bank Of Canada began coverage on shares of Abeona Therapeutics in a research report on Thursday, September 14th. They issued an outperform rating and a $23.00 price target for the company. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $26.10.
Shares of Abeona Therapeutics (NASDAQ:ABEO) opened at $16.75 on Thursday. Abeona Therapeutics has a 1 year low of $4.05 and a 1 year high of $22.75.
Abeona Therapeutics (NASDAQ:ABEO) last released its quarterly earnings data on Wednesday, November 15th. The biopharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.05. The business had revenue of $0.22 million during the quarter, compared to analysts’ expectations of $0.22 million. Abeona Therapeutics had a negative net margin of 2,946.58% and a negative return on equity of 27.69%. equities research analysts predict that Abeona Therapeutics will post -0.6 earnings per share for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Point72 Asset Management L.P. purchased a new stake in Abeona Therapeutics in the third quarter valued at $3,527,000. Family Management Corp increased its stake in Abeona Therapeutics by 50.0% in the third quarter. Family Management Corp now owns 36,000 shares of the biopharmaceutical company’s stock valued at $614,000 after purchasing an additional 12,000 shares during the period. Wells Fargo & Company MN increased its stake in Abeona Therapeutics by 3,421.8% in the third quarter. Wells Fargo & Company MN now owns 35,218 shares of the biopharmaceutical company’s stock valued at $600,000 after purchasing an additional 34,218 shares during the period. EAM Investors LLC acquired a new position in Abeona Therapeutics in the third quarter valued at $2,509,000. Finally, Ardsley Advisory Partners increased its stake in Abeona Therapeutics by 33.3% in the second quarter. Ardsley Advisory Partners now owns 60,000 shares of the biopharmaceutical company’s stock valued at $383,000 after purchasing an additional 15,000 shares during the period. 36.34% of the stock is owned by hedge funds and other institutional investors.
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About Abeona Therapeutics
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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