Abeona Therapeutics (NASDAQ:ABEO) Given New $20.00 Price Target at Oppenheimer

Abeona Therapeutics (NASDAQ:ABEO) had its target price boosted by Oppenheimer from $19.00 to $20.00 in a report published on Friday morning,Benzinga reports. They currently have an outperform rating on the biopharmaceutical company’s stock.

A number of other research firms have also commented on ABEO. Alliance Global Partners reiterated a “buy” rating on shares of Abeona Therapeutics in a research report on Thursday, May 15th. Stifel Nicolaus cut their target price on Abeona Therapeutics from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, May 16th. HC Wainwright restated a “buy” rating and set a $20.00 target price on shares of Abeona Therapeutics in a research report on Monday, July 14th. Finally, Wall Street Zen lowered Abeona Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, May 15th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.50.

Abeona Therapeutics Trading Down 1.4%

NASDAQ ABEO opened at $7.13 on Friday. The business’s 50-day moving average price is $6.23 and its two-hundred day moving average price is $5.74. Abeona Therapeutics has a 12 month low of $3.93 and a 12 month high of $7.54. The firm has a market capitalization of $364.75 million, a PE ratio of 10.19 and a beta of 1.55. The company has a current ratio of 4.90, a quick ratio of 4.90 and a debt-to-equity ratio of 0.27.

Abeona Therapeutics (NASDAQ:ABEO) last released its quarterly earnings results on Thursday, August 14th. The biopharmaceutical company reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $2.10. The company had revenue of $0.40 million during the quarter, compared to the consensus estimate of $21.71 million. On average, analysts expect that Abeona Therapeutics will post -1.16 EPS for the current year.

Insider Activity at Abeona Therapeutics

In related news, CFO Joseph Walter Vazzano sold 25,411 shares of the company’s stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $5.86, for a total transaction of $148,908.46. Following the sale, the chief financial officer owned 479,168 shares in the company, valued at $2,807,924.48. This represents a 5.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark Alvino sold 13,093 shares of the company’s stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $5.86, for a total value of $76,724.98. Following the transaction, the director directly owned 77,252 shares in the company, valued at approximately $452,696.72. This trade represents a 14.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 231,626 shares of company stock worth $1,430,587 over the last quarter. 6.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Abeona Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. bought a new stake in shares of Abeona Therapeutics during the second quarter valued at approximately $25,000. Legal & General Group Plc bought a new stake in shares of Abeona Therapeutics during the second quarter valued at approximately $27,000. Twinbeech Capital LP bought a new stake in shares of Abeona Therapeutics during the fourth quarter valued at approximately $58,000. Riverwater Partners LLC bought a new stake in shares of Abeona Therapeutics during the second quarter valued at approximately $62,000. Finally, Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Abeona Therapeutics during the second quarter valued at approximately $63,000. Institutional investors own 80.56% 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.