Wall Street brokerages expect that Abeona Therapeutics Inc (NASDAQ:ABEO) will report sales of $1.02 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made 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 company is expected to issue its next quarterly earnings report on Wednesday, November 21st.
On average, analysts expect that Abeona Therapeutics will report full-year sales of $6.08 million for the current fiscal year, with estimates ranging from $5.63 million to $6.83 million. For the next year, analysts forecast that the company will post sales of $18.32 million, with estimates ranging from $4.23 million to $43.30 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Abeona Therapeutics.
Abeona Therapeutics (NASDAQ:ABEO) last announced its earnings results on Friday, August 10th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.06). Abeona Therapeutics had a negative net margin of 881.74% and a negative return on equity of 23.02%. The firm had revenue of $0.82 million during the quarter, compared to analyst estimates of $1.81 million.
ABEO has been the subject of several analyst reports. Zacks Investment Research raised shares of Abeona Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, July 24th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Abeona Therapeutics in a research note on Thursday, September 13th. Cantor Fitzgerald set a $36.00 price objective on shares of Abeona Therapeutics and gave the company a “buy” rating in a research note on Monday, October 1st. TheStreet downgraded shares of Abeona Therapeutics from a “c-” rating to a “d+” rating in a research note on Wednesday, August 29th. Finally, ValuEngine downgraded shares of Abeona Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 30th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $26.80.
Several hedge funds and other institutional investors have recently bought and sold shares of ABEO. FMR LLC increased its stake in shares of Abeona Therapeutics by 47.7% during the 2nd quarter. FMR LLC now owns 7,094,307 shares of the biopharmaceutical company’s stock valued at $113,509,000 after acquiring an additional 2,291,016 shares during the last quarter. Millennium Management LLC grew its holdings 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 worth $13,148,000 after purchasing an additional 878,969 shares during the period. PointState Capital LP purchased a new stake in shares of Abeona Therapeutics during the 2nd quarter worth about $9,210,000. Nexthera Capital LP purchased a new stake in shares of Abeona Therapeutics during the 1st quarter worth about $5,302,000. Finally, BlackRock Inc. grew its holdings in shares of Abeona Therapeutics by 16.6% during the 2nd quarter. BlackRock Inc. now owns 2,184,506 shares of the biopharmaceutical company’s stock worth $34,951,000 after purchasing an additional 311,034 shares during the period. 76.24% of the stock is owned by institutional investors.
ABEO stock traded up $0.37 during trading on Wednesday, hitting $10.40. The stock had a trading volume of 629,959 shares, compared to its average volume of 886,407. Abeona Therapeutics has a 1-year low of $9.66 and a 1-year high of $22.00. The company has a market capitalization of $613.67 million, a price-to-earnings ratio of -15.76 and a beta of 1.10.
About Abeona Therapeutics
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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