Abeona Therapeutics (NASDAQ:ABEO) Price Target Raised to $30.00

Abeona Therapeutics (NASDAQ:ABEO) had its target price increased by Cantor Fitzgerald from $28.00 to $30.00 in a research note published on Friday, Marketbeat Ratings reports. Cantor Fitzgerald currently has an overweight rating on the biopharmaceutical company’s stock.

A number of other equities research analysts also recently weighed in on the stock. Wall Street Zen upgraded shares of Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 1st. HC Wainwright restated a “buy” rating and issued a $20.00 target price on shares of Abeona Therapeutics in a research note on Thursday, May 28th. Oppenheimer reaffirmed an “outperform” rating and set a $21.00 target price (down from $22.00) on shares of Abeona Therapeutics in a report on Friday, August 14th. Weiss Ratings cut Abeona Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, August 17th. Finally, Roth Capital started coverage on Abeona Therapeutics in a report on Thursday. They issued a “buy” rating and a $17.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.00.

Abeona Therapeutics Stock Performance

Abeona Therapeutics stock opened at $5.57 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. Abeona Therapeutics has a 12 month low of $4.00 and a 12 month high of $7.65. The company has a fifty day moving average price of $6.27 and a two-hundred day moving average price of $5.70. The company has a market cap of $318.49 million, a PE ratio of -5.11 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 for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.12). The business had revenue of $11.38 million for the quarter, compared to the consensus estimate of $12.24 million. Research analysts expect that Abeona Therapeutics will post -0.9 earnings per share for the current year.

Insider Transactions at Abeona Therapeutics

In other news, CFO Joseph Vazzano sold 24,880 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $6.96, for a total transaction of $173,164.80. Following the completion of the transaction, the chief financial officer directly owned 493,557 shares in the company, valued at approximately $3,435,156.72. The trade was a 4.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Vishwas Seshadri sold 67,971 shares of the stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $6.96, for a total value of $473,078.16. Following the completion of the transaction, the chief executive officer directly owned 1,306,108 shares of the company’s stock, valued at $9,090,511.68. This trade represents a 4.95% decrease in their ownership of the stock. 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. Insiders have sold 144,985 shares of company stock worth $980,520 in the last quarter. 7.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Abeona Therapeutics

Large investors have recently bought and sold shares of the stock. AIGH Capital Management LLC increased its stake in shares of Abeona Therapeutics by 55.0% during the first quarter. AIGH Capital Management LLC now owns 3,100,000 shares of the biopharmaceutical company’s stock valued at $13,888,000 after acquiring an additional 1,100,000 shares during the period. AWM Investment Company Inc. acquired a new stake in shares of Abeona Therapeutics in the second quarter valued at $9,184,000. Simplify Asset Management Inc. boosted its stake in Abeona Therapeutics by 1.5% during the first quarter. Simplify Asset Management Inc. now owns 507,988 shares of the biopharmaceutical company’s stock valued at $2,276,000 after buying an additional 7,646 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Abeona Therapeutics during the second quarter valued at about $1,262,000. Finally, Sei Investments Co. grew its holdings in Abeona Therapeutics by 142.4% during the first quarter. Sei Investments Co. now owns 172,460 shares of the biopharmaceutical company’s stock worth $773,000 after acquiring an additional 101,307 shares during the period. Institutional investors and hedge funds 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.