Royal Bank Of Canada Lowers 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 objective decreased by investment analysts at Royal Bank Of Canada from $21.00 to $17.00 in a research note issued on Friday,Benzinga reports. The firm presently has an "outperform" rating on the biotechnology company's stock. Royal Bank Of Canada's target price would suggest a potential upside of 123.39% from the company's previous close.

A number of other research analysts have also recently weighed in on the company. Chardan Capital restated a "buy" rating and issued a $52.00 price target on shares of REGENXBIO in a research report on Friday. Barclays decreased their price objective on REGENXBIO from $50.00 to $37.00 and set an "overweight" rating on the stock in a research note on Friday. Finally, The Goldman Sachs Group decreased their price objective on REGENXBIO from $14.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, REGENXBIO has a consensus rating of "Moderate Buy" and a consensus target price of $28.38.

REGENXBIO Stock Down 3.1%

NASDAQ RGNX traded down $0.24 during trading on Friday, hitting $7.61. The stock had a trading volume of 234,069 shares, compared to its average volume of 975,748. The company has a market capitalization of $384.38 million, a PE ratio of -2.22 and a beta of 1.11. The firm has a 50 day moving average price of $8.79 and a 200 day moving average price of $8.03. REGENXBIO has a twelve month low of $5.03 and a twelve month high of $13.48.

REGENXBIO (NASDAQ:RGNX - Get Free Report) last posted its earnings results on Thursday, August 7th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($1.13) by ($0.25). The business 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%. On average, sell-side analysts anticipate that REGENXBIO will post -4.84 earnings per share for the current year.

Institutional Investors Weigh In On REGENXBIO

Several hedge funds and other institutional investors have recently bought and sold shares of the business. FNY Investment Advisers LLC acquired a new position in shares of REGENXBIO in the 1st quarter worth approximately $35,000. Brooklyn Investment Group boosted its position in REGENXBIO by 163.7% during the 1st 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. KLP Kapitalforvaltning AS acquired a new position in REGENXBIO during the 4th quarter valued at approximately $54,000. Dynamic Technology Lab Private Ltd acquired a new position in REGENXBIO during the 4th quarter valued at approximately $79,000. Finally, Laurion Capital Management LP acquired a new position in REGENXBIO during the 4th quarter worth $79,000. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

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.