Analysts Set Abeona Therapeutics Inc. (NASDAQ:ABEO) Target Price at $19.00

Shares of Abeona Therapeutics Inc. (NASDAQ:ABEO) have earned an average rating of “Moderate Buy” from the five ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $19.00.

Several analysts have recently issued reports on ABEO shares. Oppenheimer reissued an “outperform” rating on shares of Abeona Therapeutics in a report on Monday, March 9th. Stifel Nicolaus set a $17.00 target price on Abeona Therapeutics in a report on Tuesday, March 17th. Weiss Ratings reissued a “sell (d+)” rating on shares of Abeona Therapeutics in a report on Wednesday, January 21st. Finally, HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Abeona Therapeutics in a report on Thursday, March 19th.

Insider Activity at Abeona Therapeutics

In related news, Director Christine Berni Silverstein sold 20,070 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $5.09, for a total value of $102,156.30. Following the sale, the director directly owned 137,722 shares of the company’s stock, valued at $701,004.98. This trade represents a 12.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Brendan M. O’malley sold 13,578 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $5.33, for a total value of $72,370.74. Following the completion of the sale, the senior vice president directly owned 451,134 shares in the company, valued at $2,404,544.22. This trade represents a 2.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 184,605 shares of company stock worth $968,550 in the last quarter. 6.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Abeona Therapeutics

Several large investors have recently bought and sold shares of ABEO. Goldman Sachs Group Inc. boosted its stake in Abeona Therapeutics by 49.6% in the first quarter. Goldman Sachs Group Inc. now owns 200,450 shares of the biopharmaceutical company’s stock valued at $954,000 after buying an additional 66,422 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Abeona Therapeutics by 129.1% during the second quarter. Geode Capital Management LLC now owns 1,105,862 shares of the biopharmaceutical company’s stock valued at $6,282,000 after purchasing an additional 623,243 shares in the last quarter. Creative Planning boosted its stake in shares of Abeona Therapeutics by 43.0% during the second quarter. Creative Planning now owns 14,310 shares of the biopharmaceutical company’s stock valued at $81,000 after purchasing an additional 4,305 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Abeona Therapeutics by 255.6% during the second quarter. JPMorgan Chase & Co. now owns 831,132 shares of the biopharmaceutical company’s stock valued at $4,721,000 after purchasing an additional 597,373 shares in the last quarter. Finally, Legal & General Group Plc acquired a new stake in shares of Abeona Therapeutics during the second quarter valued at about $27,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Abeona Therapeutics Stock Performance

Shares of NASDAQ ABEO opened at $5.40 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.93 and a quick ratio of 6.74. The stock’s fifty day moving average price is $4.90 and its two-hundred day moving average price is $5.02. Abeona Therapeutics has a one year low of $4.00 and a one year high of $7.54. The firm has a market cap of $308.07 million, a price-to-earnings ratio of 5.24 and a beta of 1.22.

Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings data on Tuesday, March 17th. The biopharmaceutical company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.01. The firm had revenue of $3.00 million during the quarter, compared to analyst estimates of $5.65 million. On average, equities analysts forecast that Abeona Therapeutics will post -1.16 EPS for the current year.

About Abeona Therapeutics

Abeona Therapeutics is a clinical‐stage biopharmaceutical company focused on the development and commercialization of gene and cell therapies for severe, life‐threatening rare diseases and oncology indications. Founded in 2014 and headquartered in Cleveland, Ohio, Abeona leverages proprietary viral and non‐viral delivery platforms to correct or compensate for underlying genetic deficiencies. The company’s research efforts target pediatric neurodegenerative disorders as well as debilitating dermatologic conditions with high unmet medical need.

The company’s lead clinical programs include separate AAV‐based gene therapies for CLN1 and CLN3 forms of neuronal ceroid lipofuscinosis, alongside an ex vivo autologous cell therapy for recessive dystrophic epidermolysis bullosa.