REGENXBIO (NASDAQ:RGNX) Receives "Buy" Rating from Stifel Nicolaus

REGENXBIO (NASDAQ:RGNX - Get Free Report)'s stock had its "buy" rating reiterated by analysts at Stifel Nicolaus in a research note issued on Friday, Benzinga reports. They currently have a $40.00 price target on the biotechnology company's stock. Stifel Nicolaus' price target points to a potential upside of 121.12% from the company's current price.

RGNX has been the topic of several other reports. Raymond James restated an "outperform" rating and set a $45.00 price objective on shares of REGENXBIO in a research note on Wednesday, February 21st. Leerink Partnrs upgraded REGENXBIO from a "market perform" rating to an "outperform" rating in a research note on Wednesday, March 6th. Royal Bank of Canada upgraded REGENXBIO from a "sector perform" rating to an "outperform" rating and raised their price objective for the stock from $20.00 to $35.00 in a research note on Friday, March 8th. Barclays raised their price objective on REGENXBIO from $45.00 to $55.00 and gave the stock an "overweight" rating in a research note on Thursday, March 7th. Finally, StockNews.com upgraded REGENXBIO from a "sell" rating to a "hold" rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.45.

REGENXBIO Stock Performance

Shares of RGNX stock traded down $0.93 during mid-day trading on Friday, reaching $18.09. 542,760 shares of the company were exchanged, compared to its average volume of 754,477. REGENXBIO has a fifty-two week low of $11.83 and a fifty-two week high of $28.80. The company has a market capitalization of $887.13 million, a P/E ratio of -3.00 and a beta of 1.29. The business's 50 day simple moving average is $19.78 and its 200 day simple moving average is $17.84.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last released its quarterly earnings results on Tuesday, February 27th. The biotechnology company reported ($1.43) earnings per share for the quarter, missing analysts' consensus estimates of ($1.27) by ($0.16). REGENXBIO had a negative return on equity of 68.18% and a negative net margin of 291.99%. The company had revenue of $22.30 million for the quarter, compared to analyst estimates of $34.01 million. During the same period in the previous year, the business posted ($1.38) EPS. The firm's quarterly revenue was down 28.8% compared to the same quarter last year. On average, analysts forecast that REGENXBIO will post -3.98 EPS for the current year.

Insider Activity

In other news, CEO Kenneth T. Mills sold 45,000 shares of the firm's stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $15.18, for a total transaction of $683,100.00. Following the transaction, the chief executive officer now directly owns 408,035 shares of the company's stock, valued at $6,193,971.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Kenneth T. Mills sold 45,000 shares of the firm's stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $15.18, for a total transaction of $683,100.00. Following the transaction, the chief executive officer now directly owns 408,035 shares of the company's stock, valued at $6,193,971.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kenneth T. Mills sold 15,000 shares of the firm's stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $21.86, for a total value of $327,900.00. Following the transaction, the chief executive officer now directly owns 408,035 shares in the company, valued at $8,919,645.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 87,878 shares of company stock valued at $1,627,620. Company insiders own 12.70% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky grew its holdings in REGENXBIO by 5.7% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 12,215 shares of the biotechnology company's stock worth $244,000 after acquiring an additional 660 shares during the period. The Manufacturers Life Insurance Company grew its holdings in REGENXBIO by 4.3% during the second quarter. The Manufacturers Life Insurance Company now owns 16,382 shares of the biotechnology company's stock worth $327,000 after acquiring an additional 681 shares during the period. PNC Financial Services Group Inc. grew its holdings in REGENXBIO by 73.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company's stock worth $32,000 after acquiring an additional 746 shares during the period. Arizona State Retirement System grew its holdings in REGENXBIO by 7.3% during the third quarter. Arizona State Retirement System now owns 11,138 shares of the biotechnology company's stock worth $183,000 after acquiring an additional 761 shares during the period. Finally, Prudential Financial Inc. increased its stake in REGENXBIO by 1.1% in the 1st quarter. Prudential Financial Inc. now owns 71,412 shares of the biotechnology company's stock worth $1,350,000 after purchasing an additional 800 shares in the last quarter. 88.08% of the stock is owned by institutional investors and hedge funds.

REGENXBIO Company Profile

REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapies that deliver functional genes to cells with genetic defects in the United States. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus gene delivery platform. The company's products in pipeline includes ABBV-RGX-314 for the treatment of wet age-related macular degeneration, diabetic retinopathy, and other chronic retinal diseases; and RGX-202, which is in Phase I/II clinical trial for the treatment of Duchenne muscular dystrophy.