Abeona Therapeutics (NASDAQ:ABEO) Given "Buy" Rating at HC Wainwright

Key Points

• Abeona Therapeutics received a "buy" rating from HC Wainwright, with a target price of $20.00, indicating a potential upside of 180.50% from its current price.
• The company's recent earnings report showed a significant outperformance, with earnings per share of $1.71 compared to the consensus estimate of (0.39).
• Insider selling included notable transactions by Director Christine Berni Silverstein and CFO Joseph Walter Vazzano, indicating a decrease in their stock holdings.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at HC Wainwright in a report issued on Monday,Benzinga reports. They presently have a $20.00 target price on the biopharmaceutical company's stock. HC Wainwright's target price indicates a potential upside of 180.50% from the company's current price.

ABEO has been the subject of several other research reports. Stifel Nicolaus lowered their price objective on shares of Abeona Therapeutics from $21.00 to $20.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Oppenheimer raised their price objective on shares of Abeona Therapeutics from $19.00 to $20.00 and gave the company an "outperform" rating in a research report on Friday. Alliance Global Partners reaffirmed a "buy" rating on shares of Abeona Therapeutics in a research note on Thursday, May 15th. Finally, Wall Street Zen lowered shares of Abeona Therapeutics from a "hold" rating to a "sell" rating in a research note on Thursday, May 15th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Abeona Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.50.

Abeona Therapeutics Trading Down 1.4%

ABEO opened at $7.13 on Monday. The company has a current ratio of 4.90, a quick ratio of 4.90 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $365.63 million, a PE ratio of 10.19 and a beta of 1.55. Abeona Therapeutics has a 1-year low of $3.93 and a 1-year high of $7.54. The firm has a 50-day moving average price of $6.23 and a two-hundred day moving average price of $5.75.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The biopharmaceutical company reported $1.71 earnings per share for the quarter, beating the consensus estimate of ($0.39) by $2.10. The company had revenue of $0.40 million during the quarter, compared to analyst estimates of $21.71 million. As a group, equities analysts anticipate that Abeona Therapeutics will post -1.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Christine Berni Silverstein sold 13,093 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 $76,724.98. Following the transaction, the director owned 120,479 shares of the company's stock, valued at approximately $706,006.94. This trade represents a 9.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Joseph Walter Vazzano sold 25,411 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 transaction of $148,908.46. Following the completion of the transaction, the chief financial officer directly owned 479,168 shares in the company, valued at $2,807,924.48. This trade represents a 5.04% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 231,626 shares of company stock worth $1,430,587. 5.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Corient Private Wealth LLC bought a new position in Abeona Therapeutics during the 2nd quarter worth approximately $127,000. Man Group plc bought a new position in Abeona Therapeutics during the 2nd quarter worth approximately $67,000. BNP Paribas Financial Markets bought a new position in Abeona Therapeutics during the 2nd quarter worth approximately $749,000. Boone Capital Management LLC bought a new position in Abeona Therapeutics during the 2nd quarter worth approximately $7,126,000. Finally, Bank of America Corp DE boosted its stake in Abeona Therapeutics by 154.9% during the 2nd quarter. Bank of America Corp DE now owns 329,884 shares of the biopharmaceutical company's stock worth $1,874,000 after acquiring an additional 200,469 shares during the last quarter. Institutional investors own 80.56% of the company's stock.

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.

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