Leerink Partnrs Weighs in on REGENXBIO FY2024 Earnings

REGENXBIO Inc. (NASDAQ:RGNX) – Equities researchers at Leerink Partnrs decreased their FY2024 earnings estimates for REGENXBIO in a research report issued to clients and investors on Wednesday, February 19th. Leerink Partnrs analyst M. Foroohar now forecasts that the biotechnology company will post earnings of ($4.93) per share for the year, down from their prior forecast of ($4.86). The consensus estimate for REGENXBIO’s current full-year earnings is ($4.84) per share. Leerink Partnrs also issued estimates for REGENXBIO’s Q4 2024 earnings at ($1.34) EPS, FY2025 earnings at ($1.57) EPS, FY2026 earnings at ($1.25) EPS, FY2027 earnings at ($1.88) EPS, FY2028 earnings at ($0.65) EPS and FY2029 earnings at $0.23 EPS.

RGNX has been the subject of a number of other reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $30.00 price target on shares of REGENXBIO in a research note on Tuesday, January 21st. Raymond James began coverage on shares of REGENXBIO in a research note on Friday, February 7th. They issued an “outperform” rating and a $27.00 price target for the company. Chardan Capital restated a “buy” rating and set a $52.00 target price on shares of REGENXBIO in a research report on Wednesday, November 20th. HC Wainwright restated a “buy” rating and set a $36.00 target price on shares of REGENXBIO in a research report on Wednesday, January 15th. Finally, The Goldman Sachs Group lowered shares of REGENXBIO from a “buy” rating to a “neutral” rating and cut their target price for the company from $38.00 to $14.00 in a research report on Tuesday, February 11th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.45.

REGENXBIO Stock Down 3.0 %

Shares of RGNX stock opened at $6.72 on Monday. The company has a 50 day moving average price of $7.63 and a 200-day moving average price of $9.52. REGENXBIO has a 52 week low of $6.44 and a 52 week high of $28.80. The firm has a market capitalization of $332.94 million, a PE ratio of -1.34 and a beta of 1.29.

Hedge Funds Weigh In On REGENXBIO

Hedge funds have recently modified their holdings of the stock. FMR LLC lifted its holdings in shares of REGENXBIO by 166.8% in the third quarter. FMR LLC now owns 2,649 shares of the biotechnology company’s stock worth $28,000 after buying an additional 1,656 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of REGENXBIO by 273.1% in the fourth quarter. GAMMA Investing LLC now owns 3,429 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 2,510 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of REGENXBIO in the fourth quarter valued at $54,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of REGENXBIO by 64.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 9,506 shares of the biotechnology company’s stock worth $100,000 after purchasing an additional 3,720 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of REGENXBIO in the fourth quarter worth about $79,000. Hedge funds and other institutional investors own 88.08% of the company’s stock.

REGENXBIO Company Profile

REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapies that deliver functional genes to cells with genetic defects in the United States. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus gene delivery platform. The company’s products in pipeline includes ABBV-RGX-314 for the treatment of wet age-related macular degeneration, diabetic retinopathy, and other chronic retinal diseases; and RGX-202, which is in Phase I/II clinical trial for the treatment of Duchenne muscular dystrophy.