Cantor Fitzgerald Issues Positive Forecast for Abeona Therapeutics (NASDAQ:ABEO) Stock Price

by · The Cerbat Gem

Abeona Therapeutics (NASDAQ:ABEO – Get Free Report) had its target price raised by stock analysts at Cantor Fitzgerald from $28.00 to $30.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective suggests a potential upside of 436.67% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Oppenheimer reiterated 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. HC Wainwright reissued a “buy” rating and set a $20.00 target price on shares of Abeona Therapeutics in a research note on Thursday, May 28th. Roth Capital assumed coverage on shares of Abeona Therapeutics in a research note on Thursday. They issued a “buy” rating and a $17.00 price target for the company. Wall Street Zen raised shares of Abeona Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings downgraded Abeona Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.00.

Read Our Latest Research Report on Abeona Therapeutics

Abeona Therapeutics Price Performance

Shares of NASDAQ:ABEO opened at $5.59 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. Abeona Therapeutics has a 52 week low of $4.00 and a 52 week high of $7.65. The firm has a market cap of $319.64 million, a PE ratio of -5.13 and a beta of 1.33. The firm’s fifty day moving average is $6.30 and its 200-day moving average is $5.70.

Abeona Therapeutics (NASDAQ:ABEO – Get Free Report) last announced its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.12). The company had revenue of $11.38 million during the quarter, compared to analyst estimates of $12.24 million. Sell-side analysts predict that Abeona Therapeutics will post -0.93 earnings per share for the current year.

Insider Transactions at Abeona Therapeutics

In related news, Director Mark Alvino sold 15,000 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $5.86, for a total value of $87,900.00. Following the completion of the sale, the director directly owned 62,065 shares of the company’s stock, valued at approximately $363,700.90. This represents a 19.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Vishwas Seshadri sold 67,971 shares of the firm’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $6.96, for a total value of $473,078.16. Following the transaction, the chief executive officer owned 1,306,108 shares in the company, valued at approximately $9,090,511.68. This trade represents a 4.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 144,985 shares of company stock valued at $980,520. Corporate insiders own 7.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Royal Bank of Canada lifted its stake in Abeona Therapeutics by 49.6% in the first quarter. Royal Bank of Canada now owns 6,500 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 2,155 shares during the last quarter. Legato Capital Management LLC increased its holdings in Abeona Therapeutics by 21.0% in the 4th quarter. Legato Capital Management LLC now owns 13,180 shares of the biopharmaceutical company’s stock worth $69,000 after acquiring an additional 2,290 shares during the last quarter. Rangeley Capital LLC increased its holdings in Abeona Therapeutics by 4.2% in the 1st quarter. Rangeley Capital LLC now owns 60,000 shares of the biopharmaceutical company’s stock worth $269,000 after acquiring an additional 2,400 shares during the last quarter. Riverwater Partners LLC raised its stake in Abeona Therapeutics by 22.2% in the 4th quarter. Riverwater Partners LLC now owns 19,375 shares of the biopharmaceutical company’s stock valued at $102,000 after acquiring an additional 3,518 shares during the period. Finally, Simplify Asset Management Inc. boosted its position in Abeona Therapeutics by 1.5% during the first quarter. Simplify Asset Management Inc. now owns 507,988 shares of the biopharmaceutical company’s stock worth $2,276,000 after purchasing an additional 7,646 shares during the period. 80.56% of the stock is owned by institutional investors.

Abeona Therapeutics Company Profile

(Get Free Report)

Abeona Therapeutics Inc is a biopharmaceutical company focused on developing and commercializing cell and gene therapies for patients with serious and life-threatening genetic diseases. The company’s programs are designed to address conditions for which existing treatment options are limited or inadequate.

Abeona’s lead product, ZEVASKYN (prademagene zamikeracel, formerly EB-101), is an autologous gene-corrected cell therapy for recessive dystrophic epidermolysis bullosa, a rare inherited disorder that causes fragile skin and chronic wounds.

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