Regenxbio (RGNX) Lifted to “Buy” at Zacks Investment Research

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Regenxbio (NASDAQ:RGNX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage currently has a $78.00 price target on the biotechnology company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 11.94% from the stock’s previous close.

According to Zacks, “REGENXBIO Inc. is a biotechnology company. The Company focuses on the development, commercialization and licensing of recombinant adeno-associated virus gene therapy. Its products candidates include RGX-501, for the treatment of homozygous familial hypercholesterolemia which uses the AAV8 vector to deliver the human low-density lipoprotein receptor gene to liver cells; RGX-111, for the treatment of Mucopolysaccharidosis Type I which uses the AAV9 vector to deliver the human a-l-iduronidase gene to the central nervous system; RGX-121, for the treatment of Mucopolysaccharidosis Type II; RGX-314, for the treatment of wet age-related macular degeneration and RGX-321, for the treatment of X-linked retinitis pigmentosa. REGENXBIO Inc. is headquartered in Rockville, Maryland. “

Several other equities research analysts have also recently commented on RGNX. Chardan Capital raised their target price on shares of Regenxbio from $90.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, July 10th. Morgan Stanley raised their target price on shares of Regenxbio from $37.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, July 13th. Bank of America cut shares of Regenxbio from a “buy” rating to a “neutral” rating and raised their target price for the stock from $64.00 to $80.00 in a research report on Monday, July 23rd. BidaskClub cut shares of Regenxbio from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 25th. Finally, ValuEngine raised shares of Regenxbio from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 10th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Regenxbio currently has a consensus rating of “Buy” and an average price target of $83.50.

NASDAQ:RGNX opened at $69.68 on Wednesday. Regenxbio has a 12 month low of $23.25 and a 12 month high of $85.10. The stock has a market capitalization of $2.28 billion, a PE ratio of -28.44, a P/E/G ratio of 14.16 and a beta of -0.49.

Regenxbio (NASDAQ:RGNX) last posted its earnings results on Wednesday, August 8th. The biotechnology company reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.90 by ($1.75). Regenxbio had a return on equity of 28.70% and a net margin of 44.44%. The company had revenue of $40.03 million during the quarter, compared to analysts’ expectations of $100.00 million. As a group, research analysts predict that Regenxbio will post 1.64 earnings per share for the current year.

In related news, insider Stephen Yoo sold 20,414 shares of Regenxbio stock in a transaction dated Monday, October 29th. The shares were sold at an average price of $62.37, for a total transaction of $1,273,221.18. Following the completion of the transaction, the insider now directly owns 20,414 shares of the company’s stock, valued at approximately $1,273,221.18. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Vittal Vasista sold 7,500 shares of Regenxbio stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $65.43, for a total transaction of $490,725.00. Following the transaction, the chief financial officer now directly owns 123,584 shares of the company’s stock, valued at $8,086,101.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 251,585 shares of company stock valued at $16,368,781. 16.90% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of RGNX. SG Americas Securities LLC increased its stake in Regenxbio by 37.4% during the 3rd quarter. SG Americas Securities LLC now owns 3,422 shares of the biotechnology company’s stock valued at $258,000 after purchasing an additional 931 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its stake in Regenxbio by 87.6% during the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 10,967 shares of the biotechnology company’s stock valued at $828,000 after purchasing an additional 5,120 shares in the last quarter. WINTON GROUP Ltd bought a new stake in Regenxbio during the 3rd quarter valued at about $207,000. Smith Asset Management Group LP bought a new stake in Regenxbio during the 3rd quarter valued at about $275,000. Finally, Chicago Equity Partners LLC increased its stake in Regenxbio by 35.3% during the 3rd quarter. Chicago Equity Partners LLC now owns 60,250 shares of the biotechnology company’s stock valued at $4,549,000 after purchasing an additional 15,724 shares in the last quarter. 81.17% of the stock is owned by institutional investors.

Regenxbio Company Profile

REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapy product candidates to deliver genes to cells to address genetic defects or to enable cells in the body to produce therapeutic proteins that are intended to impact disease. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus (AAV) gene delivery platform.

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