HC Wainwright Reiterates Buy Rating for Abeona Therapeutics (NASDAQ:ABEO)

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at HC Wainwright in a report issued on Thursday, Benzinga reports. They presently have a $15.00 target price on the biopharmaceutical company's stock. HC Wainwright's price target suggests a potential upside of 134.01% from the company's previous close.

Other analysts also recently issued research reports about the stock. StockNews.com upgraded shares of Abeona Therapeutics from a "sell" rating to a "hold" rating in a research report on Tuesday, September 10th. Cantor Fitzgerald restated an "overweight" rating and issued a $18.00 price target on shares of Abeona Therapeutics in a research note on Tuesday.

Abeona Therapeutics Trading Up 0.8 %

NASDAQ ABEO traded up $0.05 during trading hours on Thursday, reaching $6.41. The company had a trading volume of 253,506 shares, compared to its average volume of 436,978. Abeona Therapeutics has a 1-year low of $3.05 and a 1-year high of $9.01. The stock has a market capitalization of $262.57 million, a P/E ratio of -1.96 and a beta of 1.53. The stock has a 50-day moving average of $6.02 and a 200 day moving average of $5.18. The company has a current ratio of 7.48, a quick ratio of 7.48 and a debt-to-equity ratio of 0.22.

Abeona Therapeutics (NASDAQ:ABEO - Get Free Report) last announced its earnings results on Monday, August 12th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.42). As a group, research analysts anticipate that Abeona Therapeutics will post -1.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Abeona Therapeutics

A number of institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC purchased a new position in shares of Abeona Therapeutics during the 1st quarter worth $91,000. Bank of New York Mellon Corp boosted its stake in Abeona Therapeutics by 2.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 121,453 shares of the biopharmaceutical company's stock worth $515,000 after buying an additional 2,434 shares during the last quarter. abrdn plc increased its stake in shares of Abeona Therapeutics by 158.8% during the 3rd quarter. abrdn plc now owns 326,995 shares of the biopharmaceutical company's stock valued at $2,067,000 after acquiring an additional 200,647 shares during the last quarter. Simplify Asset Management Inc. purchased a new position in shares of Abeona Therapeutics during the 2nd quarter worth about $1,732,000. Finally, Renaissance Technologies LLC boosted its position in shares of Abeona Therapeutics by 581.6% in the second quarter. Renaissance Technologies LLC now owns 503,293 shares of the biopharmaceutical company's stock worth $2,134,000 after acquiring an additional 429,456 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company's stock.

Abeona Therapeutics Company Profile

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.