REGENXBIO's (RGNX) Buy Rating Reaffirmed at HC Wainwright

Key Points

• HC Wainwright has reaffirmed a buy rating for REGENXBIO (RGNX), with a target price of $34.00, indicating a potential upside of 250.15% from its last closing price.
• REGENXBIO reported a quarterly loss of ($1.38) earnings per share, falling short of analyst expectations, and generated revenue of $21.36 million, significantly below the expected $40.87 million.
• Overall, five investment analysts currently rate REGENXBIO as a buy while one has issued a hold rating, with a consensus target price of $28.38.

REGENXBIO (NASDAQ:RGNX - Get Free Report)'s stock had its "buy" rating reissued by HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They currently have a $34.00 target price on the biotechnology company's stock. HC Wainwright's price target points to a potential upside of 250.15% from the stock's previous close.

RGNX has been the topic of a number of other research reports. Barclays dropped their price target on REGENXBIO from $50.00 to $37.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Royal Bank Of Canada reduced their price target on REGENXBIO from $21.00 to $17.00 and set an "outperform" rating for the company in a report on Friday, August 8th. Wall Street Zen cut REGENXBIO from a "hold" rating to a "strong sell" rating in a report on Saturday, August 9th. Finally, Chardan Capital reaffirmed a "buy" rating and set a $52.00 price objective on shares of REGENXBIO in a report on Friday, August 8th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $28.38.

REGENXBIO Stock Performance

RGNX opened at $9.71 on Monday. REGENXBIO has a one year low of $5.03 and a one year high of $13.48. The company has a market cap of $490.45 million, a P/E ratio of -2.82 and a beta of 1.17. The business's 50-day simple moving average is $8.65 and its 200-day simple moving average is $8.18.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.13) by ($0.25). The firm had revenue of $21.36 million for the quarter, compared to analysts' expectations of $40.87 million. REGENXBIO had a negative return on equity of 66.95% and a negative net margin of 112.70%. As a group, analysts predict that REGENXBIO will post -4.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On REGENXBIO

Hedge funds and other institutional investors have recently made changes to their positions in the business. FNY Investment Advisers LLC purchased a new stake in shares of REGENXBIO in the first quarter valued at $35,000. Brooklyn Investment Group grew its position in shares of REGENXBIO by 163.7% in the first quarter. Brooklyn Investment Group now owns 5,583 shares of the biotechnology company's stock valued at $40,000 after purchasing an additional 3,466 shares during the period. Steward Partners Investment Advisory LLC grew its position in REGENXBIO by 754.1% during the second quarter. Steward Partners Investment Advisory LLC now owns 5,663 shares of the biotechnology company's stock valued at $46,000 after acquiring an additional 5,000 shares during the period. Pallas Capital Advisors LLC purchased a new stake in REGENXBIO during the first quarter valued at about $74,000. Finally, Laurion Capital Management LP purchased a new stake in REGENXBIO during the fourth quarter valued at about $79,000. Hedge funds and other institutional investors own 88.08% of the company's stock.

About REGENXBIO

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.

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