Abeona Therapeutics (ABEO) Raised to “Buy” at BidaskClub

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BidaskClub upgraded shares of Abeona Therapeutics (NASDAQ:ABEO) from a hold rating to a buy rating in a report released on Monday.

Several other brokerages also recently commented on ABEO. HC Wainwright reissued a buy rating and issued a $30.00 price target on shares of Abeona Therapeutics in a report on Friday, April 20th. Cantor Fitzgerald reissued a buy rating and issued a $36.00 price target on shares of Abeona Therapeutics in a report on Wednesday, May 16th. SunTrust Banks cut their price target on shares of Abeona Therapeutics to $23.00 and set a positive rating for the company in a report on Wednesday, May 16th. Maxim Group set a $35.00 price target on shares of Abeona Therapeutics and gave the company a buy rating in a report on Monday, May 14th. Finally, ValuEngine raised shares of Abeona Therapeutics from a hold rating to a buy rating in a report on Friday, June 1st. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Abeona Therapeutics presently has a consensus rating of Buy and an average price target of $28.56.

Abeona Therapeutics opened at $16.55 on Monday, according to Marketbeat. The company has a market capitalization of $752.15 million, a P/E ratio of -25.08 and a beta of 1.27. Abeona Therapeutics has a 12 month low of $4.85 and a 12 month high of $22.75.

Abeona Therapeutics (NASDAQ:ABEO) last released its quarterly earnings data on Monday, May 14th. The biopharmaceutical company reported ($0.18) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.01. The company had revenue of $2.60 million during the quarter, compared to the consensus estimate of $0.27 million. Abeona Therapeutics had a negative net margin of 939.83% and a negative return on equity of 23.57%. analysts predict that Abeona Therapeutics will post -0.7 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the company. Millennium Management LLC raised its position in shares of Abeona Therapeutics by 2,357.3% during the 1st quarter. Millennium Management LLC now owns 916,256 shares of the biopharmaceutical company’s stock valued at $13,148,000 after buying an additional 878,969 shares in the last quarter. Nexthera Capital LP purchased a new position in Abeona Therapeutics in the 1st quarter worth $5,302,000. Sabby Management LLC purchased a new position in Abeona Therapeutics in the 1st quarter worth $187,000. UBS Group AG raised its position in Abeona Therapeutics by 36.5% in the 1st quarter. UBS Group AG now owns 152,081 shares of the biopharmaceutical company’s stock worth $2,182,000 after purchasing an additional 40,680 shares during the period. Finally, Knott David M purchased a new position in Abeona Therapeutics in the 1st quarter worth $101,000. Hedge funds and other institutional investors own 69.11% of the company’s stock.

Abeona Therapeutics Company Profile

Abeona Therapeutics Inc, a clinical-stage biopharmaceutical company, focuses on developing and delivering gene therapy products for severe and life-threatening rare diseases. The company's lead programs are EB-101 (gene-corrected skin grafts) for recessive dystrophic epidermolysis bullosa (RDEB); ABO-102, which are AAV based gene therapies for Sanfilippo syndrome type A; and ABO-101, an adeno-associated virus (AAV) based gene therapies for Sanfilippo syndrome type B.

Analyst Recommendations for Abeona Therapeutics (NASDAQ:ABEO)

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