Abeona Therapeutics Inc. (NASDAQ:ABEO) Receives Consensus Recommendation of "Buy" from Brokerages

Key Points

• Abeona Therapeutics Inc. has received an average analyst recommendation of "Buy" from five firms, with an average price target of $19.50 for the next year.
• Insider activity shows CEO Vishwas Seshadri sold 69,420 shares at an average price of $5.86, decreasing his ownership by 5.32%.
• The company reported earnings of $1.71 per share for the last quarter, significantly surpassing analysts' expectations of a loss of $0.39 per share.

Shares of Abeona Therapeutics Inc. (NASDAQ:ABEO - Get Free Report) have earned a consensus recommendation of "Buy" from the five analysts that are presently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $19.50.

ABEO has been the topic of several research reports. Oppenheimer lifted their price objective on shares of Abeona Therapeutics from $19.00 to $20.00 and gave the stock an "outperform" rating in a research report on Friday, August 15th. Stifel Nicolaus reduced their target price on shares of Abeona Therapeutics from $21.00 to $20.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Wall Street Zen downgraded shares of Abeona Therapeutics from a "hold" rating to a "sell" rating in a research note on Thursday, May 15th. HC Wainwright reiterated a "buy" rating and issued a $20.00 target price on shares of Abeona Therapeutics in a research note on Monday, August 18th. Finally, Alliance Global Partners reiterated a "buy" rating on shares of Abeona Therapeutics in a research note on Thursday, May 15th.

Insider Activity at Abeona Therapeutics

In related news, Director Christine Berni Silverstein sold 13,093 shares of the business's stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $5.86, for a total transaction of $76,724.98. Following the completion of the transaction, the director owned 120,479 shares of the company's stock, valued at approximately $706,006.94. The trade was a 9.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Brendan M. O'malley sold 17,428 shares of the business's stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $5.86, for a total transaction of $102,128.08. Following the transaction, the senior vice president directly owned 360,817 shares of the company's stock, valued at approximately $2,114,387.62. This represents a 4.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 229,626 shares of company stock valued at $1,417,827 in the last quarter. 5.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Abeona Therapeutics

Several hedge funds have recently bought and sold shares of ABEO. Oxford Asset Management LLP purchased a new position in Abeona Therapeutics during the fourth quarter valued at approximately $118,000. Northern Trust Corp grew its stake in Abeona Therapeutics by 6.6% during the fourth quarter. Northern Trust Corp now owns 184,929 shares of the biopharmaceutical company's stock valued at $1,030,000 after acquiring an additional 11,478 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in Abeona Therapeutics during the fourth quarter valued at approximately $341,000. Jane Street Group LLC grew its stake in Abeona Therapeutics by 894.8% during the fourth quarter. Jane Street Group LLC now owns 131,478 shares of the biopharmaceutical company's stock valued at $732,000 after acquiring an additional 118,262 shares in the last quarter. Finally, 683 Capital Management LLC grew its stake in Abeona Therapeutics by 17.3% during the fourth quarter. 683 Capital Management LLC now owns 791,845 shares of the biopharmaceutical company's stock valued at $4,411,000 after acquiring an additional 116,845 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company's stock.

Abeona Therapeutics Stock Performance

ABEO stock traded down $0.05 during mid-day trading on Wednesday, hitting $6.83. The company had a trading volume of 404,743 shares, compared to its average volume of 702,310. The firm has a market cap of $350.24 million, a PE ratio of 9.76 and a beta of 1.67. The company has a debt-to-equity ratio of 0.09, a quick ratio of 6.65 and a current ratio of 6.73. Abeona Therapeutics has a 12 month low of $3.93 and a 12 month high of $7.54. The stock's fifty day moving average price is $6.40 and its two-hundred day moving average price is $5.83.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $0.40 million during the quarter, compared to the consensus estimate of $21.71 million. On average, analysts forecast that Abeona Therapeutics will post -1.16 earnings per share for the current fiscal 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.