Cantor Fitzgerald Reiterates “Overweight” Rating for Abeona Therapeutics (NASDAQ:ABEO)

Abeona Therapeutics (NASDAQ:ABEO)‘s stock had its “overweight” rating reiterated by research analysts at Cantor Fitzgerald in a note issued to investors on Friday, Benzinga reports. They presently have a $18.00 price target on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target points to a potential upside of 199.00% from the company’s current price.

ABEO has been the topic of several other reports. StockNews.com raised Abeona Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, September 10th. HC Wainwright restated a “buy” rating and issued a $15.00 price objective on shares of Abeona Therapeutics in a report on Wednesday, August 14th. Finally, Stifel Nicolaus initiated coverage on shares of Abeona Therapeutics in a research note on Thursday, May 30th. They set a “buy” rating and a $21.00 target price on the stock.

Abeona Therapeutics Price Performance

Shares of Abeona Therapeutics stock opened at $6.02 on Friday. The company’s fifty day simple moving average is $5.23 and its two-hundred day simple moving average is $5.44. Abeona Therapeutics has a 12-month low of $3.05 and a 12-month high of $9.01. The firm has a market cap of $246.60 million, a PE ratio of -1.88 and a beta of 1.53. The company has a quick ratio of 7.48, a current ratio of 7.48 and a debt-to-equity ratio of 0.22.

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

Institutional Investors Weigh In On Abeona Therapeutics

Hedge funds have recently made changes to their positions in the company. Jump Financial LLC purchased a new position in Abeona Therapeutics during the fourth quarter valued at $199,000. Simplify Asset Management Inc. bought a new position in shares of Abeona Therapeutics in the 2nd quarter worth about $1,732,000. Acadian Asset Management LLC purchased a new position in Abeona Therapeutics during the 1st quarter valued at about $91,000. Renaissance Technologies LLC lifted its position in Abeona Therapeutics by 581.6% during the 2nd quarter. Renaissance Technologies LLC now owns 503,293 shares of the biopharmaceutical company’s stock valued at $2,134,000 after acquiring an additional 429,456 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Abeona Therapeutics by 2.0% during the second quarter. Bank of New York Mellon Corp now owns 121,453 shares of the biopharmaceutical company’s stock worth $515,000 after acquiring an additional 2,434 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors.

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.