Barclays Reiterates "Equal Weight" Rating for REGENXBIO (NASDAQ:RGNX)

Key Points

• Barclays reiterated an “Equal Weight” rating on REGENXBIO with a $12 price target, implying 6.38% upside from the prior close.
• Analyst sentiment remains mixed but leans positive: nine analysts rate the stock Buy, two Hold, and two Sell, producing a “Moderate Buy” consensus and an average target of $23.82.
• REGENXBIO reported quarterly EPS of $0.43, beating the $0.08 consensus estimate, while revenue of $108.02 million exceeded expectations of $97.63 million; however, the company remains unprofitable with a negative net margin.

REGENXBIO (NASDAQ:RGNX - Get Free Report)'s stock had its "equal weight" rating restated by equities researchers at Barclays in a report issued on Friday,Benzinga reports. They currently have a $12.00 price objective on the biotechnology company's stock. Barclays's price objective suggests a potential upside of 6.38% from the stock's previous close.

Other analysts have also recently issued reports about the stock. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of REGENXBIO in a research note on Monday, June 8th. Bank of America decreased their target price on shares of REGENXBIO from $25.00 to $14.00 and set a "buy" rating for the company in a research note on Friday, May 15th. Morgan Stanley set a $16.00 price objective on shares of REGENXBIO in a report on Friday, May 15th. HC Wainwright restated a "buy" rating and set a $26.00 target price on shares of REGENXBIO in a research note on Wednesday, July 1st. Finally, Leerink Partners boosted their price target on REGENXBIO from $17.00 to $18.00 and gave the stock an "outperform" rating in a research note on Monday, June 22nd. Nine equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, REGENXBIO has an average rating of "Moderate Buy" and an average target price of $23.82.

REGENXBIO Stock Performance

NASDAQ:RGNX opened at $11.28 on Friday. The stock has a market cap of $583.18 million, a P/E ratio of -2.01 and a beta of 0.94. REGENXBIO has a 1 year low of $5.45 and a 1 year high of $16.19. The stock has a 50-day simple moving average of $9.94 and a 200-day simple moving average of $9.42.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The biotechnology company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.08 by $0.35. The firm had revenue of $108.02 million during the quarter, compared to the consensus estimate of $97.63 million. REGENXBIO had a negative net margin of 330.23% and a negative return on equity of 232.50%. On average, equities research analysts predict that REGENXBIO will post -3.69 EPS for the current year.

Insider Activity

In other news, insider Steve Pakola sold 36,725 shares of REGENXBIO stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $12.86, for a total value of $472,283.50. Following the completion of the transaction, the insider directly owned 213,009 shares of the company's stock, valued at approximately $2,739,295.74. The trade was a 14.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 73,803 shares of company stock valued at $886,937. Company insiders own 14.22% of the company's stock.

Hedge Funds Weigh In On REGENXBIO

Several institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp acquired a new stake in shares of REGENXBIO during the 2nd quarter worth approximately $1,608,000. GSA Capital Partners LLP acquired a new position in REGENXBIO during the 2nd quarter valued at approximately $271,000. Walleye Capital LLC acquired a new position in REGENXBIO during the 2nd quarter valued at approximately $2,441,000. Versant Capital Management Inc grew its stake in REGENXBIO by 60.4% during the 2nd quarter. Versant Capital Management Inc now owns 2,741 shares of the biotechnology company's stock worth $33,000 after buying an additional 1,032 shares during the last quarter. Finally, Militia Capital Management LLC bought a new position in REGENXBIO during the 1st quarter worth $281,000. 88.08% of the stock is owned by institutional investors.

REGENXBIO Company Profile

REGENXBIO Inc is a clinical‐stage biotechnology company specializing in the development of gene therapies using its proprietary NAV® AAV (adeno‐associated virus) platform. The company engineers next‐generation AAV vectors designed to deliver functional genes to targeted cells, aiming to address a range of rare genetic diseases and ocular, metabolic and neurologic disorders. REGENXBIO's pipeline features several product candidates in various stages of preclinical and clinical development, including RGX-314 for wet age‐related macular degeneration, RGX-121 for mucopolysaccharidosis II (Hunter syndrome) and RGX-121 for other rare lysosomal storage diseases.

In addition to its internally funded programs, REGENXBIO has established partnerships with major biopharmaceutical companies to advance its NAV technology.

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