Abeona Therapeutics' (ABEO) "Buy" Rating Reiterated at HC Wainwright

Key Points

• HC Wainwright has reiterated a "buy" rating for Abeona Therapeutics, raising the price target to $20.00, indicating a potential upside of 273.13% from the current stock price.
• Abeona Therapeutics reported earnings per share (EPS) of $1.71 for the last quarter, exceeding the estimate of ($0.39) despite lower than expected revenue of $0.40 million.
• Insiders have recently sold a total of 64,865 shares of the company, with notable sales by the CEO and a senior vice president, leading to a slight decrease in their ownership stakes.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report)'s stock had its "buy" rating restated by research analysts at HC Wainwright in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $20.00 price objective on the biopharmaceutical company's stock. HC Wainwright's price target suggests a potential upside of 273.13% from the company's previous close.

Other equities analysts also recently issued research reports about the stock. Oppenheimer boosted their target price on shares of Abeona Therapeutics from $19.00 to $20.00 and gave the stock an "outperform" rating in a research note on Friday, August 15th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Abeona Therapeutics in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Abeona Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $19.50.

Abeona Therapeutics Stock Performance

NASDAQ:ABEO opened at $5.36 on Monday. The company has a fifty day simple moving average of $6.24 and a two-hundred day simple moving average of $5.95. The company has a market cap of $274.86 million, a price-to-earnings ratio of 7.66 and a beta of 1.42. The company has a quick ratio of 6.65, a current ratio of 6.73 and a debt-to-equity ratio of 0.09. Abeona Therapeutics has a 52 week low of $3.93 and a 52 week high of $7.54.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The biopharmaceutical company reported $1.71 EPS for the quarter, topping the consensus estimate of ($0.39) by $2.10. The business had revenue of $0.40 million during the quarter, compared to analyst estimates of $21.71 million. As a group, equities analysts anticipate that Abeona Therapeutics will post -1.16 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Brendan M. O'malley sold 9,366 shares of the company's stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $5.39, for a total value of $50,482.74. Following the completion of the sale, the senior vice president directly owned 350,763 shares of the company's stock, valued at approximately $1,890,612.57. This represents a 2.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Vishwas Seshadri sold 25,000 shares of the company's stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $5.24, for a total transaction of $131,000.00. Following the completion of the sale, the chief executive officer directly owned 1,190,067 shares of the company's stock, valued at $6,235,951.08. The trade was a 2.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 64,865 shares of company stock valued at $347,777. Insiders own 6.90% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. acquired a new position in Abeona Therapeutics during the second quarter worth about $25,000. Legal & General Group Plc acquired a new position in Abeona Therapeutics during the second quarter worth about $27,000. Riverwater Partners LLC acquired a new position in Abeona Therapeutics during the second quarter worth about $62,000. Police & Firemen s Retirement System of New Jersey acquired a new position in Abeona Therapeutics during the second quarter worth about $63,000. Finally, Cannon Global Investment Management LLC acquired a new position in Abeona Therapeutics during the first quarter worth about $67,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

Abeona Therapeutics Company Profile

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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