HC Wainwright Reaffirms Buy Rating for Abeona Therapeutics (NASDAQ:ABEO)

Abeona Therapeutics (NASDAQ:ABEO)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a research report issued on Wednesday, October 16th, AnalystRatings.com reports. They currently have a $15.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s target price would suggest a potential upside of 470.34% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Maxim Group cut Abeona Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, August 15th. ValuEngine upgraded Abeona Therapeutics from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Royal Bank of Canada lowered their target price on Abeona Therapeutics to $16.00 and set a “positive” rating on the stock in a report on Tuesday, August 13th. They noted that the move was a valuation call. Mizuho restated a “hold” rating and set a $4.00 target price on shares of Abeona Therapeutics in a report on Monday, September 23rd. Finally, Cantor Fitzgerald cut Abeona Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, August 12th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $15.75.

NASDAQ:ABEO traded down $0.09 during mid-day trading on Wednesday, hitting $2.63. 266,400 shares of the company traded hands, compared to its average volume of 661,024. The company has a quick ratio of 2.54, a current ratio of 2.54 and a debt-to-equity ratio of 0.06. Abeona Therapeutics has a one year low of $1.46 and a one year high of $9.90. The firm has a market cap of $132.17 million, a price-to-earnings ratio of -2.21 and a beta of 2.02. The stock’s fifty day moving average price is $2.47 and its 200-day moving average price is $4.06.

Abeona Therapeutics (NASDAQ:ABEO) last posted its quarterly earnings data on Friday, August 9th. The biopharmaceutical company reported ($0.49) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.36) by ($0.13). Equities analysts predict that Abeona Therapeutics will post -1.7 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its position in shares of Abeona Therapeutics by 434.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,719 shares of the biopharmaceutical company’s stock valued at $42,000 after buying an additional 7,088 shares during the period. Ellington Management Group LLC purchased a new stake in shares of Abeona Therapeutics during the 2nd quarter valued at approximately $50,000. Trexquant Investment LP purchased a new stake in shares of Abeona Therapeutics during the 2nd quarter valued at approximately $53,000. D. E. Shaw & Co. Inc. purchased a new stake in shares of Abeona Therapeutics during the 2nd quarter valued at approximately $59,000. Finally, Marshall Wace LLP raised its position in shares of Abeona Therapeutics by 45.9% during the 2nd quarter. Marshall Wace LLP now owns 13,254 shares of the biopharmaceutical company’s stock valued at $63,000 after buying an additional 4,168 shares during the period. 59.41% of the stock is currently owned by hedge funds and other institutional investors.

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.

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