Abeona Therapeutics Inc (NASDAQ:ABEO) Given Consensus Rating of “Buy” by Brokerages

Abeona Therapeutics Inc (NASDAQ:ABEO) has received an average rating of “Buy” from the four research firms that are covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $18.50.

A number of analysts have issued reports on ABEO shares. Alliance Global Partners reissued a “buy” rating on shares of Abeona Therapeutics in a research report on Thursday. Stifel Nicolaus reduced their price target on Abeona Therapeutics from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Friday. HC Wainwright lifted their price target on Abeona Therapeutics from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Oppenheimer initiated coverage on Abeona Therapeutics in a research report on Wednesday, March 5th. They issued an “outperform” rating and a $16.00 price target for the company. Finally, StockNews.com cut Abeona Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday.

Insider Activity

In related news, Director Mark Alvino sold 8,000 shares of Abeona Therapeutics stock in a transaction on Friday, May 16th. The stock was sold at an average price of $5.68, for a total transaction of $45,440.00. Following the completion of the sale, the director now owns 92,435 shares of the company’s stock, valued at approximately $525,030.80. This trade represents a 7.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vishwas Seshadri sold 25,000 shares of Abeona Therapeutics stock in a transaction on Monday, March 31st. The shares were sold at an average price of $4.78, for a total value of $119,500.00. Following the sale, the chief executive officer now directly owns 1,355,322 shares of the company’s stock, valued at $6,478,439.16. This represents a 1.81% decrease in their position. The disclosure for this sale can be found here. 6.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Abeona Therapeutics

Several large investors have recently added to or reduced their stakes in ABEO. Adage Capital Partners GP L.L.C. boosted its stake in Abeona Therapeutics by 20.1% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,902,360 shares of the biopharmaceutical company’s stock valued at $21,736,000 after buying an additional 652,366 shares during the period. Western Standard LLC lifted its stake in Abeona Therapeutics by 22.8% during the fourth quarter. Western Standard LLC now owns 2,084,418 shares of the biopharmaceutical company’s stock worth $11,610,000 after purchasing an additional 386,321 shares during the last quarter. Jane Street Group LLC lifted its stake in Abeona Therapeutics by 894.8% during the fourth quarter. Jane Street Group LLC now owns 131,478 shares of the biopharmaceutical company’s stock worth $732,000 after purchasing an additional 118,262 shares during the last quarter. 683 Capital Management LLC lifted its stake in Abeona Therapeutics by 17.3% during the fourth quarter. 683 Capital Management LLC now owns 791,845 shares of the biopharmaceutical company’s stock worth $4,411,000 after purchasing an additional 116,845 shares during the last quarter. Finally, Newtyn Management LLC lifted its stake in Abeona Therapeutics by 26.3% during the first quarter. Newtyn Management LLC now owns 480,000 shares of the biopharmaceutical company’s stock worth $2,285,000 after purchasing an additional 100,000 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

Abeona Therapeutics Stock Performance

NASDAQ:ABEO opened at $6.10 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.12 and a quick ratio of 6.12. The business has a fifty day simple moving average of $5.18 and a two-hundred day simple moving average of $5.55. Abeona Therapeutics has a 1 year low of $3.93 and a 1 year high of $7.32. The company has a market capitalization of $297.68 million, a P/E ratio of -2.27 and a beta of 1.68.

Abeona Therapeutics (NASDAQ:ABEO) last released its earnings results on Thursday, May 15th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.11. On average, analysts expect that Abeona Therapeutics will post -1.16 earnings per share for the current year.

About Abeona Therapeutics

Abeona Therapeutics Inc, a clinical-stage biopharmaceutical company, focuses on developing and delivering gene therapy products for severe and life-threatening rare diseases. The company's lead programs are EB-101 (gene-corrected skin grafts) for recessive dystrophic epidermolysis bullosa (RDEB); ABO-102, which are AAV based gene therapies for Sanfilippo syndrome type A; and ABO-101, an adeno-associated virus (AAV) based gene therapies for Sanfilippo syndrome type B.