Abeona Therapeutics Inc. (NASDAQ:ABEO) Receives $19.25 Consensus Target Price from Brokerages

Key Points

• Abeona Therapeutics Inc. has received an average rating of "Buy" from five brokerages, with a consensus price target of $19.25 for the next year.
• The company's stock is currently trading at $6.49, experiencing an increase of 1.9%, and has a market capitalization of approximately $332.03 million.
• Insider trades indicate recent selling activity, with significant share sales by the Director and CFO, leading to a combined decrease of ownership among insiders.

Shares of Abeona Therapeutics Inc. (NASDAQ:ABEO - Get Free Report) have earned an average rating of "Buy" from the five analysts that are covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $19.25.

ABEO has been the subject of several analyst reports. Stifel Nicolaus lowered their target price 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. HC Wainwright restated a "buy" rating and issued a $20.00 target price on shares of Abeona Therapeutics in a report on Monday, July 14th. Alliance Global Partners restated a "buy" rating on shares of Abeona Therapeutics in a report on Thursday, May 15th. Finally, Oppenheimer initiated coverage on shares of Abeona Therapeutics in a report on Monday, June 2nd. They issued an "outperform" rating and a $19.00 target price for the company.

Abeona Therapeutics Price Performance

Shares of NASDAQ:ABEO traded down $0.15 on Friday, reaching $6.32. The company's stock had a trading volume of 230,153 shares, compared to its average volume of 1,037,455. Abeona Therapeutics has a 52-week low of $3.93 and a 52-week high of $7.32. The company has a market cap of $323.33 million, a P/E ratio of -4.98 and a beta of 1.55. The company has a 50-day simple moving average of $6.19 and a 200 day simple moving average of $5.67. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.90 and a current ratio of 4.90.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The biopharmaceutical company reported ($0.24) EPS for the quarter, topping analysts' consensus estimates of ($0.35) by $0.11. As a group, equities research analysts anticipate that Abeona Therapeutics will post -1.16 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Brendan M. O'malley sold 17,428 shares of the firm's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $5.86, for a total value of $102,128.08. Following the transaction, the senior vice president owned 360,817 shares of the company's stock, valued at $2,114,387.62. This trade represents a 4.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Vishwas Seshadri sold 69,420 shares of the firm's stock in a transaction dated Wednesday, July 9th. The stock was 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 directly owned 1,234,341 shares in the company, valued at $7,233,238.26. This represents a 5.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 239,626 shares of company stock worth $1,476,027 over the last ninety days. 5.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. OMERS ADMINISTRATION Corp increased its position in Abeona Therapeutics by 11.0% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 72,200 shares of the biopharmaceutical company's stock valued at $344,000 after purchasing an additional 7,155 shares during the period. Twinbeech Capital LP purchased a new position in Abeona Therapeutics during the 4th quarter valued at about $58,000. Riverwater Partners LLC purchased a new position in Abeona Therapeutics during the 2nd quarter valued at about $62,000. Northern Trust Corp increased its position in Abeona Therapeutics by 6.6% during the 4th quarter. Northern Trust Corp now owns 184,929 shares of the biopharmaceutical company's stock valued at $1,030,000 after purchasing an additional 11,478 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in Abeona Therapeutics during the 4th quarter valued at about $67,000. Hedge funds and other institutional investors own 80.56% of the company's stock.

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.