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

Abeona Therapeutics Inc. (NASDAQ:ABEO) has received a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $21.00.

Several research analysts have weighed in on ABEO shares. Cantor Fitzgerald lifted their target price on Abeona Therapeutics from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, September 18th. Weiss Ratings lowered Abeona Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, August 17th. 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. Roth Capital started coverage on Abeona Therapeutics in a research note on Thursday, September 17th. They set a “buy” rating and a $17.00 price objective for the company. Finally, UBS Group restated a “buy” rating on shares of Abeona Therapeutics in a report on Friday, September 25th.

Abeona Therapeutics Stock Up 6.6%

NASDAQ:ABEO opened at $4.17 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.40 and a current ratio of 6.63. The firm has a market cap of $238.44 million, a P/E ratio of -3.83 and a beta of 1.50. Abeona Therapeutics has a fifty-two week low of $3.91 and a fifty-two week high of $7.65. The firm has a 50-day simple moving average of $5.05 and a two-hundred day simple moving average of $5.46.

Abeona Therapeutics (NASDAQ:ABEO) last released its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.35) EPS 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 the consensus estimate of $12.24 million. Analysts predict that Abeona Therapeutics will post -0.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Brendan O’Malley sold 6,727 shares of Abeona Therapeutics stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $5.16, for a total value of $34,711.32. Following the transaction, the senior vice president directly owned 421,226 shares in the company, valued at approximately $2,173,526.16. The trade was a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Madhav Vasanthavada sold 4,902 shares of the firm’s stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $5.16, for a total value of $25,294.32. Following the sale, the insider directly owned 285,721 shares in the company, valued at $1,474,320.36. The trade was a 1.69% 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. Insiders sold 55,428 shares of company stock valued at $296,508 over the last ninety days. Insiders own 7.10% of the company’s stock.

Institutional Investors Weigh In On Abeona Therapeutics

Hedge funds have recently modified their holdings of the company. Royal Bank of Canada boosted its position in shares of Abeona Therapeutics by 49.6% during the 1st 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 in the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of Abeona Therapeutics in the 1st quarter valued at about $154,000. WINTON GROUP Ltd bought a new stake in shares of Abeona Therapeutics during the second quarter valued at approximately $256,000. Rangeley Capital LLC lifted its position in shares of Abeona Therapeutics by 4.2% during the 1st quarter. Rangeley Capital LLC now owns 60,000 shares of the biopharmaceutical company’s stock valued at $269,000 after acquiring an additional 2,400 shares during the last quarter. Finally, Pale Fire Capital SE increased its stake in shares of Abeona Therapeutics by 17.3% in the second quarter. Pale Fire Capital SE now owns 81,945 shares of the biopharmaceutical company’s stock worth $506,000 after acquiring an additional 12,100 shares during the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

About Abeona Therapeutics

Abeona Therapeutics Inc (NASDAQ: ABEO) is a biopharmaceutical company focused on developing and commercializing cell and gene therapies for serious and rare genetic diseases. The company’s programs are designed to address conditions with limited treatment options, including diseases caused by genetic defects affecting the skin and other tissues.

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