Abeona Therapeutics Inc. (NASDAQ:ABEO) Receives $19.50 Consensus Price Target from Analysts

Key Points

• Abeona Therapeutics Inc. has received an average recommendation of "Buy" from analysts, with a consensus 1-year price target of $19.50.
• The company recently reported earnings of $1.71 per share, exceeding expectations, although revenues were significantly lower than forecast at $0.40 million.
• Insiders, including the CFO and CEO, sold a combined 94,831 shares of the company’s stock in recent transactions, indicating a 5% decrease in their positions.

Shares of Abeona Therapeutics Inc. (NASDAQ:ABEO - Get Free Report) have been assigned an average rating of "Buy" from the five brokerages that are currently covering the company, Marketbeat.com reports. Five 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.

Several analysts recently commented on the company. Oppenheimer upped their target price on Abeona Therapeutics from $19.00 to $20.00 and gave the company an "outperform" rating in a report on Friday, August 15th. HC Wainwright reiterated a "buy" rating and issued a $20.00 target price on shares of Abeona Therapeutics in a report on Monday, August 18th.

Insider Transactions at Abeona Therapeutics

In other Abeona Therapeutics news, CEO Vishwas Seshadri sold 69,420 shares of the business's stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $5.86, for a total value of $406,801.20. Following the transaction, the chief executive officer directly owned 1,234,341 shares of the company's stock, valued at approximately $7,233,238.26. The trade was a 5.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $76,724.98. Following the completion of the transaction, the director directly owned 120,479 shares in the company, valued at approximately $706,006.94. This trade represents a 9.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 151,373 shares of company stock valued at $887,922. 5.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Abeona Therapeutics

A number of institutional investors have recently modified their holdings of ABEO. Boone Capital Management LLC acquired a new position in shares of Abeona Therapeutics during the second quarter worth approximately $7,126,000. Geode Capital Management LLC raised its position in shares of Abeona Therapeutics by 129.1% during the second quarter. Geode Capital Management LLC now owns 1,105,862 shares of the biopharmaceutical company's stock worth $6,282,000 after purchasing an additional 623,243 shares during the period. JPMorgan Chase & Co. raised its position in shares of Abeona Therapeutics by 255.6% during the second quarter. JPMorgan Chase & Co. now owns 831,132 shares of the biopharmaceutical company's stock worth $4,721,000 after purchasing an additional 597,373 shares during the period. Nan Fung Trinity HK Ltd. acquired a new position in shares of Abeona Therapeutics during the second quarter worth approximately $3,185,000. Finally, AWM Investment Company Inc. acquired a new position in shares of Abeona Therapeutics during the second quarter worth approximately $2,670,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Abeona Therapeutics Trading Up 0.5%

Shares of NASDAQ:ABEO traded up $0.03 during midday trading on Friday, hitting $5.51. 418,479 shares of the stock were exchanged, compared to its average volume of 1,001,272. The stock has a market capitalization of $282.55 million, a price-to-earnings ratio of 7.87 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. The business's 50-day moving average price is $6.56 and its 200 day moving average price is $5.93. Abeona Therapeutics has a 12 month low of $3.93 and a 12 month high of $7.54.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The biopharmaceutical company reported $1.71 earnings per share for the quarter, topping the consensus estimate 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 predict that Abeona Therapeutics will post -1.16 earnings per share for the current 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.