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

Shares of Abeona Therapeutics Inc. (NASDAQ:ABEO - Get Free Report) have received a consensus recommendation of "Buy" from the five research firms that are covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $19.50.

A number of brokerages have issued reports on ABEO. Stifel Nicolaus cut their price objective on shares of Abeona Therapeutics from $21.00 to $20.00 and set a "buy" rating for the company in a report on Friday, May 16th. Wall Street Zen lowered shares of Abeona Therapeutics from a "hold" rating to a "sell" rating in a report on Thursday, May 15th. Alliance Global Partners reissued a "buy" rating on shares of Abeona Therapeutics in a report on Thursday, May 15th. Oppenheimer raised their target price on shares of Abeona Therapeutics from $19.00 to $20.00 and gave the company an "outperform" rating in a report on Friday, August 15th. Finally, HC Wainwright reissued a "buy" rating and issued a $20.00 target price on shares of Abeona Therapeutics in a report on Monday, August 18th.

Abeona Therapeutics Stock Performance

NASDAQ ABEO traded down $0.05 on Wednesday, reaching $6.83. 404,743 shares of the stock 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 firm has a market capitalization of $350.24 million, a PE ratio of 9.76 and a beta of 1.67. The company's 50-day simple moving average is $6.40 and its two-hundred day simple moving average is $5.83. The company has a current ratio of 6.73, a quick ratio of 6.65 and a debt-to-equity ratio of 0.09.

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

Insider Transactions at Abeona Therapeutics

In related news, Director Christine Berni Silverstein sold 13,093 shares of the firm's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $5.86, for a total value of $76,724.98. Following the completion of the sale, the director directly owned 120,479 shares in the company, valued at $706,006.94. This trade represents a 9.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Brendan M. O'malley sold 17,428 shares of the firm's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $5.86, for a total value of $102,128.08. Following the completion of the sale, the senior vice president owned 360,817 shares of the company's stock, valued at approximately $2,114,387.62. This represents a 4.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 229,626 shares of company stock valued at $1,417,827 in the last 90 days. Company insiders own 5.40% of the company's stock.

Institutional Trading of Abeona Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Jane Street Group LLC lifted its position in shares of Abeona Therapeutics by 894.8% during the fourth quarter. Jane Street Group LLC now owns 131,478 shares of the biopharmaceutical company's stock worth $732,000 after purchasing an additional 118,262 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of Abeona Therapeutics during the fourth quarter worth $520,000. Squarepoint Ops LLC bought a new stake in shares of Abeona Therapeutics during the fourth quarter worth $67,000. Northern Trust Corp lifted its position in shares of Abeona Therapeutics by 6.6% during the fourth quarter. Northern Trust Corp now owns 184,929 shares of the biopharmaceutical company's stock worth $1,030,000 after purchasing an additional 11,478 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Abeona Therapeutics by 16.7% during the fourth quarter. Bank of America Corp DE now owns 264,439 shares of the biopharmaceutical company's stock worth $1,473,000 after purchasing an additional 37,774 shares during the last quarter. 80.56% of the stock is currently owned by 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.