Abeona Therapeutics (NASDAQ:ABEO) Upgraded to “Strong-Buy” at Roth Capital

Roth Capital upgraded shares of Abeona Therapeutics (NASDAQ:ABEO) to a strong-buy rating in a report issued on Thursday,Zacks reports.

A number of other research firms have also recently commented on ABEO. Weiss Ratings cut shares of Abeona Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, August 17th. Wall Street Zen raised shares of Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, August 1st. HC Wainwright reiterated a “buy” rating and set a $20.00 price objective on shares of Abeona Therapeutics in a research report on Thursday, May 28th. Finally, Oppenheimer reissued an “outperform” rating and issued a $21.00 price objective (down from $22.00) on shares of Abeona Therapeutics in a research note on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Abeona Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $18.75.

Abeona Therapeutics Stock Up 4.1%

Shares of ABEO opened at $5.59 on Thursday. Abeona Therapeutics has a one year low of $4.00 and a one year high of $7.65. The company has a market cap of $319.64 million, a P/E ratio of -5.13 and a beta of 1.33. 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 firm has a 50 day simple moving average of $6.30 and a two-hundred day simple moving average of $5.70.

Abeona Therapeutics (NASDAQ:ABEO) last issued its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.12). The business had revenue of $11.38 million during the quarter, compared to analysts’ expectations of $12.24 million. Research analysts forecast that Abeona Therapeutics will post -0.93 EPS for the current fiscal year.

Insider Activity

In other news, Director Mark Alvino sold 15,000 shares of Abeona Therapeutics stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $5.86, for a total transaction of $87,900.00. Following the transaction, the director owned 62,065 shares in the company, valued at approximately $363,700.90. The trade was a 19.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Madhav Vasanthavada sold 12,606 shares of the business’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $6.96, for a total transaction of $87,737.76. Following the completion of the sale, the insider directly owned 290,623 shares in the company, valued at approximately $2,022,736.08. This represents a 4.16% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 144,985 shares of company stock valued at $980,520. 7.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Abeona Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada boosted its holdings in Abeona Therapeutics by 49.6% in the first quarter. Royal Bank of Canada now owns 6,500 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 2,155 shares during the last quarter. Legato Capital Management LLC raised its holdings in Abeona Therapeutics by 21.0% during the 4th quarter. Legato Capital Management LLC now owns 13,180 shares of the biopharmaceutical company’s stock worth $69,000 after purchasing an additional 2,290 shares during the last quarter. Riverwater Partners LLC raised its holdings in Abeona Therapeutics by 22.2% during the 4th quarter. Riverwater Partners LLC now owns 19,375 shares of the biopharmaceutical company’s stock worth $102,000 after purchasing an additional 3,518 shares during the last quarter. Dimensional Fund Advisors LP acquired a new position in shares of Abeona Therapeutics in the 1st quarter worth approximately $154,000. Finally, AXQ Capital LP acquired a new position in shares of Abeona Therapeutics in the 4th quarter worth approximately $177,000. Institutional investors own 80.56% of the company’s stock.

Abeona Therapeutics Company Profile

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.