REGENXBIO (NASDAQ:RGNX - Get Free Report) had its price target upped by Morgan Stanley from $22.00 to $24.00 in a research report issued on Friday,Benzinga reports. The firm presently has an "overweight" rating on the biotechnology company's stock. Morgan Stanley's target price would suggest a potential upside of 207.69% from the stock's current price.
A number of other research analysts have also commented on RGNX. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $30.00 price objective on shares of REGENXBIO in a report on Tuesday, January 21st. StockNews.com raised REGENXBIO from a "sell" rating to a "hold" rating in a report on Friday, March 7th. Raymond James initiated coverage on REGENXBIO in a report on Friday, February 7th. They issued an "outperform" rating and a $27.00 price objective on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $36.00 price objective on shares of REGENXBIO in a report on Wednesday, January 15th. Finally, Chardan Capital reaffirmed a "buy" rating and issued a $52.00 price objective on shares of REGENXBIO in a report on Friday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $33.88.
View Our Latest Stock Analysis on REGENXBIO
REGENXBIO Stock Up 11.4 %
Shares of RGNX stock traded up $0.80 during trading on Friday, reaching $7.80. 1,566,918 shares of the company's stock were exchanged, compared to its average volume of 695,741. The stock has a market capitalization of $386.45 million, a PE ratio of -1.55 and a beta of 1.35. REGENXBIO has a twelve month low of $5.62 and a twelve month high of $23.14. The firm's fifty day moving average price is $7.29 and its 200-day moving average price is $8.97.
REGENXBIO (NASDAQ:RGNX - Get Free Report) last posted its earnings results on Thursday, March 13th. The biotechnology company reported ($1.01) earnings per share for the quarter, topping analysts' consensus estimates of ($1.27) by $0.26. The business had revenue of $21.21 million for the quarter, compared to analyst estimates of $23.70 million. REGENXBIO had a negative return on equity of 70.65% and a negative net margin of 283.19%. As a group, analysts anticipate that REGENXBIO will post -4.84 EPS for the current fiscal year.
Institutional Investors Weigh In On REGENXBIO
Several hedge funds and other institutional investors have recently modified their holdings of RGNX. FMR LLC boosted its position in 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 purchasing an additional 1,656 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in REGENXBIO by 9.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 23,910 shares of the biotechnology company's stock worth $185,000 after purchasing an additional 1,982 shares during the last quarter. Teacher Retirement System of Texas boosted its position in REGENXBIO by 19.9% in the fourth quarter. Teacher Retirement System of Texas now owns 12,590 shares of the biotechnology company's stock worth $97,000 after purchasing an additional 2,088 shares during the last quarter. DnB Asset Management AS boosted its position in REGENXBIO by 20.1% in the fourth quarter. DnB Asset Management AS now owns 14,539 shares of the biotechnology company's stock worth $112,000 after purchasing an additional 2,434 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in REGENXBIO by 273.1% in the fourth quarter. GAMMA Investing LLC now owns 3,429 shares of the biotechnology company's stock worth $27,000 after purchasing an additional 2,510 shares during the last quarter. Institutional investors own 88.08% of the company's stock.
About REGENXBIO
(
Get Free Report)
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.
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