Brokerages Set Abeona Therapeutics Inc. (NASDAQ:ABEO) Price Target at $19.50

Abeona Therapeutics Inc. (NASDAQ:ABEO) has been given a consensus rating of “Buy” by the five brokerages that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $19.50.

A number of brokerages have weighed in on ABEO. HC Wainwright reiterated a “buy” rating and issued a $20.00 price objective on shares of Abeona Therapeutics in a research report on Monday, August 18th. Oppenheimer lifted their price target on Abeona Therapeutics from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, August 15th.

Insider Buying and Selling at Abeona Therapeutics

In related news, Director Mark Alvino sold 13,093 shares of the firm’s stock in a transaction dated Wednesday, July 9th. The shares were 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 of the company’s stock, valued at approximately $452,696.72. This trade represents a 14.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Christine Berni Silverstein sold 13,093 shares of Abeona Therapeutics stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $5.86, for a total value of $76,724.98. Following the completion of the sale, the director owned 120,479 shares in the company, valued at approximately $706,006.94. The trade was a 9.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 151,373 shares of company stock worth $887,922. 6.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Abeona Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Trexquant Investment LP boosted its stake in Abeona Therapeutics by 74.1% during the 1st quarter. Trexquant Investment LP now owns 119,274 shares of the biopharmaceutical company’s stock worth $568,000 after purchasing an additional 50,758 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of Abeona Therapeutics by 894.8% in the fourth quarter. Jane Street Group LLC now owns 131,478 shares of the biopharmaceutical company’s stock worth $732,000 after buying an additional 118,262 shares in the last quarter. Wellington Management Group LLP acquired a new position in Abeona Therapeutics during the fourth quarter worth about $520,000. Goldman Sachs Group Inc. grew its stake in Abeona Therapeutics by 49.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 200,450 shares of the biopharmaceutical company’s stock valued at $954,000 after acquiring an additional 66,422 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in Abeona Therapeutics in the 4th quarter valued at about $67,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Abeona Therapeutics Price Performance

Shares of NASDAQ ABEO opened at $5.36 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 6.73 and a quick ratio of 6.65. The stock has a market capitalization of $274.86 million, a price-to-earnings ratio of 7.66 and a beta of 1.67. The firm’s 50 day simple moving average is $6.51 and its 200-day simple moving average is $5.92. Abeona Therapeutics has a 12 month low of $3.93 and a 12 month high of $7.54.

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

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.