REGENXBIO Inc. (NASDAQ:RGNX) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• REGENXBIO has a consensus analyst rating of “Moderate Buy” from 12 covering firms, with 10 buy ratings, one hold, and one sell. The average 1-year price target is about $23.82.
• Recent analyst moves were mixed: Bank of America cut its target to $14, while Robert W. Baird raised its target to $32; Barclays also sharply lowered its target to $12.
• The company reported a wider-than-expected quarterly loss, posting EPS of -$1.72 versus estimates of -$1.36, and revenue of $6.39 million versus expectations of $25.84 million.

REGENXBIO Inc. (NASDAQ:RGNX - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the twelve research firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $23.8182.

Several research analysts have recently weighed in on RGNX shares. Bank of America dropped their target price on shares of REGENXBIO from $25.00 to $14.00 and set a "buy" rating on the stock in a research report on Friday, May 15th. Robert W. Baird upped their price target on shares of REGENXBIO from $27.00 to $32.00 and gave the company an "outperform" rating in a research report on Monday, June 22nd. Leerink Partners raised their price objective on shares of REGENXBIO from $17.00 to $18.00 and gave the stock an "outperform" rating in a research note on Monday, June 22nd. Barclays lowered their price objective on shares of REGENXBIO from $37.00 to $12.00 and set an "overweight" rating on the stock in a research report on Friday, May 15th. Finally, Morgan Stanley set a $16.00 target price on shares of REGENXBIO in a research note on Friday, May 15th.

Insider Buying and Selling at REGENXBIO

In other news, insider Steve Pakola sold 36,725 shares of REGENXBIO stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $12.86, for a total transaction of $472,283.50. Following the transaction, the insider owned 213,009 shares in the company, valued at approximately $2,739,295.74. The trade was a 14.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 73,803 shares of company stock worth $886,937 in the last quarter. Insiders own 14.22% of the company's stock.

Institutional Investors Weigh In On REGENXBIO

A number of institutional investors have recently bought and sold shares of RGNX. 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 valued at $33,000 after acquiring an additional 1,032 shares in the last quarter. Aquatic Capital Management LLC purchased a new stake in shares of REGENXBIO in the third quarter worth approximately $37,000. Captrust Financial Advisors purchased a new stake in shares of REGENXBIO in the second quarter worth approximately $85,000. Entropy Technologies LP acquired a new stake in shares of REGENXBIO during the first quarter worth approximately $87,000. Finally, Prudential Financial Inc. acquired a new stake in shares of REGENXBIO during the second quarter worth approximately $87,000. 88.08% of the stock is currently owned by institutional investors and hedge funds.

REGENXBIO Stock Up 2.8%

NASDAQ:RGNX opened at $15.65 on Friday. REGENXBIO has a 1-year low of $5.45 and a 1-year high of $16.19. The firm has a market capitalization of $809.11 million, a price-to-earnings ratio of -2.79 and a beta of 0.90. The stock has a fifty day simple moving average of $8.80 and a 200 day simple moving average of $9.94.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last posted its quarterly earnings data on Thursday, May 14th. The biotechnology company reported ($1.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.36) by ($0.36). REGENXBIO had a negative return on equity of 232.50% and a negative net margin of 330.23%.The company had revenue of $6.39 million for the quarter, compared to analyst estimates of $25.84 million. Equities analysts predict that REGENXBIO will post -3.69 earnings per share for the current year.

About REGENXBIO

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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