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

Shares of Abeona Therapeutics Inc. (NASDAQ:ABEO - Get Free Report) have received an average rating of "Buy" from the five ratings firms that are covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $19.25.

A number of analysts have recently commented on the company. Alliance Global Partners reissued a "buy" rating on shares of Abeona Therapeutics in a research note on Thursday, May 15th. HC Wainwright boosted their target price on Abeona Therapeutics from $15.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Oppenheimer started coverage on Abeona Therapeutics in a research report on Monday, June 2nd. They set an "outperform" rating and a $19.00 target price on the stock. Stifel Nicolaus cut their target price on Abeona Therapeutics from $21.00 to $20.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Finally, Wall Street Zen lowered Abeona Therapeutics from a "hold" rating to a "sell" rating in a research report on Thursday, May 15th.

Abeona Therapeutics Trading Down 2.4%

NASDAQ:ABEO opened at $5.75 on Tuesday. Abeona Therapeutics has a 12-month low of $3.93 and a 12-month high of $7.32. The firm has a market capitalization of $294.17 million, a P/E ratio of -4.53 and a beta of 1.51. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.90 and a quick ratio of 4.90. The business has a 50 day simple moving average of $6.05 and a 200 day simple moving average of $5.57.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.35) by $0.11. Equities research analysts predict that Abeona Therapeutics will post -1.16 EPS for the current year.

Insider Transactions at Abeona Therapeutics

In other news, SVP Brendan M. O'malley sold 10,470 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $6.76, for a total value of $70,777.20. Following the completion of the transaction, the senior vice president directly owned 378,245 shares of the company's stock, valued at approximately $2,556,936.20. This represents a 2.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Joseph Walter Vazzano sold 17,795 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $6.76, for a total value of $120,294.20. Following the completion of the transaction, the chief financial officer directly owned 491,246 shares of the company's stock, valued at approximately $3,320,822.96. The trade was a 3.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 88,941 shares of company stock worth $591,841. Insiders own 5.40% of the company's stock.

Hedge Funds Weigh In On Abeona Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. increased its holdings in Abeona Therapeutics by 20.1% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,902,360 shares of the biopharmaceutical company's stock valued at $21,736,000 after purchasing an additional 652,366 shares in the last quarter. Western Standard LLC increased its holdings in Abeona Therapeutics by 22.8% during the 4th quarter. Western Standard LLC now owns 2,084,418 shares of the biopharmaceutical company's stock valued at $11,610,000 after purchasing an additional 386,321 shares in the last quarter. 683 Capital Management LLC increased its holdings in Abeona Therapeutics by 17.3% during the 4th quarter. 683 Capital Management LLC now owns 791,845 shares of the biopharmaceutical company's stock valued at $4,411,000 after purchasing an additional 116,845 shares in the last quarter. Newtyn Management LLC increased its stake in shares of Abeona Therapeutics by 26.3% in the 1st quarter. Newtyn Management LLC now owns 480,000 shares of the biopharmaceutical company's stock valued at $2,285,000 after buying an additional 100,000 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Abeona Therapeutics by 16.7% in the 4th quarter. Bank of America Corp DE now owns 264,439 shares of the biopharmaceutical company's stock valued at $1,473,000 after buying an additional 37,774 shares during the period. 80.56% of the stock is owned by institutional investors and hedge funds.

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.

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