Zacks: Brokerages Anticipate Abeona Therapeutics Inc (ABEO) Will Announce Quarterly Sales of $1.02 Million

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Wall Street analysts forecast that Abeona Therapeutics Inc (NASDAQ:ABEO) will post sales of $1.02 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Abeona Therapeutics’ earnings, with the lowest sales estimate coming in at $200,000.00 and the highest estimate coming in at $1.81 million. Abeona Therapeutics posted sales of $220,000.00 during the same quarter last year, which suggests a positive year over year growth rate of 363.6%. The business is expected to announce its next earnings report on Wednesday, November 21st.

According to Zacks, analysts expect that Abeona Therapeutics will report full year sales of $6.08 million for the current financial year, with estimates ranging from $5.63 million to $6.83 million. For the next financial year, analysts anticipate that the business will report sales of $18.32 million, with estimates ranging from $4.23 million to $43.30 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Abeona Therapeutics.

Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings data on Friday, August 10th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.06). Abeona Therapeutics had a negative return on equity of 23.02% and a negative net margin of 881.74%. The business had revenue of $0.82 million during the quarter, compared to analysts’ expectations of $1.81 million.

A number of brokerages have commented on ABEO. BidaskClub raised shares of Abeona Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, June 28th. B. Riley started coverage on shares of Abeona Therapeutics in a report on Wednesday, June 27th. They issued a “buy” rating and a $26.00 target price for the company. TheStreet lowered shares of Abeona Therapeutics from a “c-” rating to a “d+” rating in a report on Wednesday, August 29th. ValuEngine lowered shares of Abeona Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 30th. Finally, HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of Abeona Therapeutics in a report on Thursday, September 13th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $26.80.

Several institutional investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. lifted its holdings in Abeona Therapeutics by 11.5% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 62,852 shares of the biopharmaceutical company’s stock valued at $902,000 after buying an additional 6,500 shares in the last quarter. Northern Trust Corp lifted its holdings in Abeona Therapeutics by 1.3% during the 1st quarter. Northern Trust Corp now owns 304,434 shares of the biopharmaceutical company’s stock valued at $4,369,000 after buying an additional 3,941 shares in the last quarter. BlackRock Inc. lifted its holdings in Abeona Therapeutics by 0.3% during the 1st quarter. BlackRock Inc. now owns 1,873,472 shares of the biopharmaceutical company’s stock valued at $26,884,000 after buying an additional 5,094 shares in the last quarter. UBS Group AG lifted its holdings in Abeona Therapeutics by 36.5% during the 1st quarter. UBS Group AG now owns 152,081 shares of the biopharmaceutical company’s stock valued at $2,182,000 after buying an additional 40,680 shares in the last quarter. Finally, Nexthera Capital LP bought a new stake in Abeona Therapeutics during the 1st quarter valued at about $5,302,000. Hedge funds and other institutional investors own 76.24% of the company’s stock.

Shares of NASDAQ:ABEO traded up $0.37 on Wednesday, reaching $10.40. The company’s stock had a trading volume of 629,959 shares, compared to its average volume of 886,407. Abeona Therapeutics has a 52-week low of $9.66 and a 52-week high of $22.00. The stock has a market capitalization of $613.67 million, a P/E ratio of -15.76 and a beta of 1.10.

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.

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Earnings History and Estimates for Abeona Therapeutics (NASDAQ:ABEO)

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