Abeona Therapeutics Inc. (NASDAQ:ABEO) Stock Has Consensus Price Target of $21.00

Shares of Abeona Therapeutics Inc. (NASDAQ:ABEO) have been assigned a consensus rating of “Moderate Buy” from the five analysts that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $21.00.

A number of research analysts have recently weighed in on ABEO shares. Wall Street Zen raised Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, August 1st. Weiss Ratings lowered Abeona Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, August 17th. HC Wainwright reiterated a “buy” rating and issued a $20.00 price target on shares of Abeona Therapeutics in a report on Thursday, May 28th. Cantor Fitzgerald raised their price target on shares of Abeona Therapeutics from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, September 18th. Finally, Roth Capital assumed coverage on shares of Abeona Therapeutics in a research note on Thursday, September 17th. They set a “buy” rating and a $17.00 price objective for the company.

Abeona Therapeutics Price Performance

Shares of ABEO opened at $5.43 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.63 and a quick ratio of 6.40. The company’s fifty day moving average price is $6.15 and its 200-day moving average price is $5.72. Abeona Therapeutics has a 1-year low of $4.00 and a 1-year high of $7.65. The firm has a market capitalization of $310.49 million, a PE ratio of -4.98 and a beta of 1.33.

Abeona Therapeutics (NASDAQ:ABEO) last issued its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.12). The company had revenue of $11.38 million during the quarter, compared to the consensus estimate of $12.24 million. On average, equities research analysts predict that Abeona Therapeutics will post -0.88 EPS for the current year.

Insider Activity

In other Abeona Therapeutics news, insider Madhav Vasanthavada sold 12,606 shares of the company’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $6.96, for a total value of $87,737.76. Following the sale, the insider directly owned 290,623 shares of the company’s stock, valued at approximately $2,022,736.08. This represents a 4.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Joseph Vazzano sold 24,880 shares of the stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $6.96, for a total value of $173,164.80. Following the sale, the chief financial officer directly owned 493,557 shares in the company, valued at $3,435,156.72. This represents a 4.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 144,985 shares of company stock valued at $980,520 over the last quarter. Insiders own 7.10% of the company’s stock.

Hedge Funds Weigh In On Abeona Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada grew its holdings in Abeona Therapeutics by 49.6% during the first quarter. Royal Bank of Canada now owns 6,500 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 2,155 shares during the period. Legato Capital Management LLC lifted its holdings in Abeona Therapeutics by 21.0% in the fourth quarter. Legato Capital Management LLC now owns 13,180 shares of the biopharmaceutical company’s stock valued at $69,000 after acquiring an additional 2,290 shares during the period. Riverwater Partners LLC lifted its holdings in Abeona Therapeutics by 22.2% in the fourth quarter. Riverwater Partners LLC now owns 19,375 shares of the biopharmaceutical company’s stock valued at $102,000 after acquiring an additional 3,518 shares during the period. AXQ Capital LP purchased a new stake in Abeona Therapeutics in the 4th quarter worth approximately $177,000. Finally, Dimensional Fund Advisors LP purchased a new stake in Abeona Therapeutics in the 1st quarter worth approximately $154,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

About Abeona Therapeutics

Abeona Therapeutics Inc is a biopharmaceutical company focused on developing and commercializing cell and gene therapies for patients with serious and life-threatening genetic diseases. The company’s programs are designed to address conditions for which existing treatment options are limited or inadequate.

Abeona’s lead product, ZEVASKYN (prademagene zamikeracel, formerly EB-101), is an autologous gene-corrected cell therapy for recessive dystrophic epidermolysis bullosa, a rare inherited disorder that causes fragile skin and chronic wounds.