Abeona Therapeutics Inc. (NASDAQ:ABEO) Given Consensus Rating of "Buy" by Analysts

Key Points

• Abeona Therapeutics Inc. has received a consensus rating of "Buy" from five analysts, with an average 12-month price target of $19.50.
• Multiple brokerages, including Oppenheimer and HC Wainwright, have reaffirmed their buy ratings, though Stifel Nicolaus has reduced its target price to $20.00.
• Insider trading activity includes significant sales, with directors selling a combined 229,626 shares in the past three months, representing a notable decrease in their holdings.

Abeona Therapeutics Inc. (NASDAQ:ABEO - Get Free Report) has earned a consensus recommendation of "Buy" from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokers that have covered the stock in the last year is $19.50.

A number of equities research analysts have recently weighed in on ABEO shares. HC Wainwright restated a "buy" rating and issued a $20.00 price objective on shares of Abeona Therapeutics in a report on Monday, August 18th. Stifel Nicolaus decreased their target price on shares of Abeona Therapeutics from $21.00 to $20.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Alliance Global Partners reissued a "buy" rating on shares of Abeona Therapeutics in a research note on Thursday, May 15th. Wall Street Zen lowered shares of Abeona Therapeutics from a "hold" rating to a "sell" rating in a research report on Thursday, May 15th. Finally, Oppenheimer lifted their price objective on Abeona Therapeutics from $19.00 to $20.00 and gave the stock an "outperform" rating in a report on Friday, August 15th.

Abeona Therapeutics Price Performance

Shares of Abeona Therapeutics stock traded down $0.05 during trading on Wednesday, hitting $6.83. 404,743 shares of the stock traded hands, compared to its average volume of 702,310. The stock has a market cap of $350.24 million, a price-to-earnings ratio of 9.76 and a beta of 1.67. 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. The firm's fifty day moving average is $6.42 and its 200-day moving average is $5.84.

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

Insider Buying and Selling at Abeona Therapeutics

In other news, Director Mark Alvino sold 13,093 shares of the firm'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 value of $76,724.98. Following the transaction, the director owned 77,252 shares in the company, valued at approximately $452,696.72. This trade represents a 14.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Brendan M. O'malley sold 17,428 shares of Abeona Therapeutics stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $5.86, for a total transaction of $102,128.08. Following the completion of the transaction, the senior vice president directly owned 360,817 shares in the company, valued at approximately $2,114,387.62. The trade was a 4.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 229,626 shares of company stock worth $1,417,827 over the last quarter. Company insiders own 5.40% of the company's stock.

Institutional Trading of Abeona Therapeutics

A number of institutional investors have recently modified their holdings of the company. Creative Planning grew its stake in shares of Abeona Therapeutics by 43.0% in 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 last quarter. Ameritas Investment Partners Inc. purchased a new stake in Abeona Therapeutics in the 2nd quarter worth approximately $25,000. Legal & General Group Plc bought a new stake in shares of Abeona Therapeutics in the 2nd quarter worth approximately $27,000. OMERS ADMINISTRATION Corp increased its stake in shares of Abeona Therapeutics by 11.0% during the first quarter. OMERS ADMINISTRATION Corp now owns 72,200 shares of the biopharmaceutical company's stock valued at $344,000 after buying an additional 7,155 shares during the period. Finally, Twinbeech Capital LP purchased a new position in shares of Abeona Therapeutics during the fourth quarter valued at approximately $58,000. 80.56% of the stock is currently 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.