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

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 an average rating of "Buy" from the five ratings firms that are presently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a buy rating. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $19.50.

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

Insider Activity

In related news, CFO Joseph Walter Vazzano sold 25,411 shares of Abeona Therapeutics stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $5.86, for a total transaction of $148,908.46. Following the completion of the transaction, the chief financial officer owned 479,168 shares of the company's stock, valued at $2,807,924.48. This trade represents a 5.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vishwas Seshadri sold 69,420 shares of the business's stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $5.86, for a total transaction of $406,801.20. Following the completion of the transaction, the chief executive officer owned 1,234,341 shares in the company, valued at approximately $7,233,238.26. The trade was a 5.32% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 229,626 shares of company stock worth $1,417,827. 5.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Abeona Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Creative Planning grew its stake in Abeona Therapeutics by 43.0% during the second quarter. Creative Planning now owns 14,310 shares of the biopharmaceutical company's stock worth $81,000 after purchasing an additional 4,305 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in shares of Abeona Therapeutics during the 2nd quarter worth approximately $25,000. Legal & General Group Plc acquired a new stake in shares of Abeona Therapeutics during the 2nd quarter worth approximately $27,000. OMERS ADMINISTRATION Corp increased its stake in shares of Abeona Therapeutics by 11.0% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 72,200 shares of the biopharmaceutical company's stock valued at $344,000 after acquiring an additional 7,155 shares in the last quarter. Finally, Twinbeech Capital LP acquired a new position in shares of Abeona Therapeutics during the 4th quarter valued at $58,000. Institutional investors own 80.56% of the company's stock.

Abeona Therapeutics Price Performance

Shares of NASDAQ ABEO traded down $0.05 during midday trading on Wednesday, reaching $6.83. 404,743 shares of the company were exchanged, compared to its average volume of 702,310. Abeona Therapeutics has a one year low of $3.93 and a one year high of $7.54. The stock's 50-day moving average price is $6.42 and its 200-day moving average price is $5.84. The company has a quick ratio of 6.65, a current ratio of 6.73 and a debt-to-equity ratio of 0.09. The stock has a market cap of $350.24 million, a P/E ratio of 9.76 and a beta of 1.67.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The biopharmaceutical company reported $1.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.39) by $2.10. The business had revenue of $0.40 million during the quarter, compared to the consensus estimate of $21.71 million. On average, sell-side analysts anticipate that Abeona Therapeutics will post -1.16 earnings per share for the current fiscal year.

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.