REGENXBIO (NASDAQ:RGNX) Raised to "Strong-Buy" at Mizuho

Key Points

• Mizuho upgraded REGENXBIO to “strong buy,” while analysts overall maintain a “Moderate Buy” consensus with an average price target of $23.17.
• REGENXBIO shares opened at $7.76 and were reported up 4.4%; the stock has traded between $5.45 and $16.19 over the past year.
• The biotechnology company exceeded quarterly expectations, reporting $0.43 in earnings per share versus an $0.08 estimate and $108.02 million in revenue versus $97.63 million expected, although it remains unprofitable.

REGENXBIO (NASDAQ:RGNX - Get Free Report) was upgraded by equities research analysts at Mizuho to a "strong-buy" rating in a research report issued to clients and investors on Monday, Zacks reports.

A number of other research analysts also recently issued reports on RGNX. Barclays downgraded shares of REGENXBIO from an "overweight" rating to a "hold" rating in a research report on Friday, August 7th. HC Wainwright restated a "buy" rating on shares of REGENXBIO in a research note on Monday, September 28th. Leerink Partners lifted their price target on shares of REGENXBIO from $17.00 to $18.00 and gave the stock an "outperform" rating in a report on Monday, June 22nd. Morgan Stanley reaffirmed an "overweight" rating and set a $18.00 price target on shares of REGENXBIO in a research report on Friday, August 7th. Finally, Wall Street Zen upgraded REGENXBIO from a "strong sell" rating to a "hold" rating in a report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, REGENXBIO presently has a consensus rating of "Moderate Buy" and an average price target of $23.17.

REGENXBIO Stock Up 4.4%

REGENXBIO stock opened at $7.76 on Monday. The firm has a market cap of $512.26 million, a P/E ratio of -2.05 and a beta of 1.13. The business has a fifty day moving average of $9.22 and a two-hundred day moving average of $9.12. REGENXBIO has a twelve month low of $5.45 and a twelve month high of $16.19.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.35. The firm had revenue of $108.02 million during the quarter, compared to analysts' expectations of $97.63 million. REGENXBIO had a negative return on equity of 220.07% and a negative net margin of 112.58%. Equities analysts expect that REGENXBIO will post -3.91 earnings per share for the current year.

Institutional Investors Weigh In On REGENXBIO

Several institutional investors and hedge funds have recently made changes to their positions in RGNX. Walleye Capital LLC acquired a new position in shares of REGENXBIO in the second quarter valued at about $2,441,000. Bank of New York Mellon Corp acquired a new stake in shares of REGENXBIO during the second quarter worth about $1,608,000. Bank of America Corp DE acquired a new stake in shares of REGENXBIO during the second quarter worth about $6,212,000. Dimensional Fund Advisors LP boosted its position in REGENXBIO by 11.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,010,381 shares of the biotechnology company's stock valued at $8,464,000 after buying an additional 106,530 shares during the last quarter. Finally, Deutsche Bank AG purchased a new stake in REGENXBIO in the second quarter valued at approximately $2,490,000. 88.08% of the stock is currently owned by institutional investors and hedge funds.

About REGENXBIO

REGENXBIO Inc is a biotechnology company focused on developing and commercializing gene therapies for serious diseases. The company's programs are based primarily on its proprietary NAV AAV Technology Platform, which uses adeno-associated virus (AAV) vectors to deliver genetic material to targeted cells. Its research has emphasized conditions affecting the central nervous system, muscles and other tissues.

REGENXBIO's pipeline has included investigational therapies such as RGX-121 for mucopolysaccharidosis type II, RGX-111 for mucopolysaccharidosis type I and RGX-202 for Duchenne muscular dystrophy.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.