Royal Bank Of Canada Cuts REGENXBIO (NASDAQ:RGNX) Price Target to $17.00

Key Points

• The Royal Bank of Canada has reduced its price target for REGENXBIO from $21.00 to $17.00, while maintaining an "outperform" rating, suggesting a potential upside of 119.21% from the previous close.
• Multiple analysts have varied ratings for REGENXBIO, with Chardan Capital maintaining a "buy" rating at a target of $52.00, while Barclays and Goldman Sachs lowered their targets significantly.
• REGENXBIO reported a negative earnings per share of ($1.38) for the last quarter, missing estimates and showcasing a company struggling with a negative net margin of 100.62%.

REGENXBIO (NASDAQ:RGNX - Get Free Report) had its price target reduced by analysts at Royal Bank Of Canada from $21.00 to $17.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the biotechnology company's stock. Royal Bank Of Canada's price objective would indicate a potential upside of 86.16% from the stock's previous close.

Several other research firms have also recently issued reports on RGNX. Barclays cut their price target on shares of REGENXBIO from $50.00 to $37.00 and set an "overweight" rating for the company in a report on Friday, August 8th. The Goldman Sachs Group dropped their target price on shares of REGENXBIO from $14.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Finally, Chardan Capital reaffirmed a "buy" rating and issued a $52.00 target price on shares of REGENXBIO in a report on Friday, August 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $28.38.

REGENXBIO Price Performance

Shares of NASDAQ:RGNX traded up $1.03 on Friday, reaching $9.13. The company's stock had a trading volume of 188,231 shares, compared to its average volume of 972,328. The stock has a market capitalization of $461.29 million, a P/E ratio of -2.65 and a beta of 1.11. REGENXBIO has a 52-week low of $5.03 and a 52-week high of $13.48. The stock's 50-day moving average is $8.69 and its two-hundred day moving average is $8.03.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Equities analysts forecast that REGENXBIO will post -4.84 earnings per share for the current fiscal year.

Institutional Trading of REGENXBIO

Several large investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its position in shares of REGENXBIO by 9.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 23,910 shares of the biotechnology company's stock valued at $185,000 after purchasing an additional 1,982 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of REGENXBIO by 9.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,756 shares of the biotechnology company's stock valued at $198,000 after purchasing an additional 2,326 shares during the last quarter. ProShare Advisors LLC increased its position in REGENXBIO by 22.4% during the 4th quarter. ProShare Advisors LLC now owns 15,314 shares of the biotechnology company's stock worth $118,000 after purchasing an additional 2,800 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in REGENXBIO by 2.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 100,452 shares of the biotechnology company's stock worth $775,000 after purchasing an additional 2,827 shares in the last quarter. Finally, Voya Investment Management LLC increased its position in REGENXBIO by 7.5% during the 4th quarter. Voya Investment Management LLC now owns 43,502 shares of the biotechnology company's stock worth $336,000 after purchasing an additional 3,024 shares in the last quarter. 88.08% of the stock is currently 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.