REGENXBIO (NASDAQ:RGNX) Stock Price Expected to Rise, Morgan Stanley Analyst Says

REGENXBIO (NASDAQ:RGNX) had its target price boosted by equities researchers at Morgan Stanley from $22.00 to $24.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the biotechnology company’s stock. Morgan Stanley’s price target indicates a potential upside of 266.41% from the company’s previous close.

Several other analysts have also recently weighed in on the stock. Chardan Capital reiterated a “buy” rating and issued a $52.00 price target on shares of REGENXBIO in a report on Friday. HC Wainwright reaffirmed a “buy” rating and set a $36.00 target price on shares of REGENXBIO in a research note on Wednesday, January 15th. Raymond James started coverage on shares of REGENXBIO in a research report on Friday, February 7th. They set an “outperform” rating and a $27.00 price target on the stock. The Goldman Sachs Group lowered shares of REGENXBIO from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $38.00 to $14.00 in a report on Tuesday, February 11th. Finally, StockNews.com upgraded REGENXBIO from a “sell” rating to a “hold” rating in a report on Friday, March 7th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, REGENXBIO presently has an average rating of “Moderate Buy” and an average price target of $34.13.

REGENXBIO Trading Down 1.8 %

REGENXBIO stock opened at $6.55 on Friday. The firm has a market cap of $324.52 million, a P/E ratio of -1.30 and a beta of 1.35. REGENXBIO has a 1-year low of $5.62 and a 1-year high of $23.14. The firm has a 50-day moving average of $7.34 and a 200-day moving average of $9.08.

REGENXBIO (NASDAQ:RGNX) last released its quarterly earnings data on Thursday, March 13th. The biotechnology company reported ($1.01) earnings per share for the quarter, topping the consensus estimate of ($1.19) by $0.18. REGENXBIO had a negative return on equity of 70.65% and a negative net margin of 283.19%. Research analysts forecast that REGENXBIO will post -4.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On REGENXBIO

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC boosted its position in shares of REGENXBIO by 273.1% in the 4th 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 in the last quarter. FMR LLC raised its stake in REGENXBIO by 166.8% during the third quarter. FMR LLC now owns 2,649 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 1,656 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in REGENXBIO in the fourth quarter worth $54,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of REGENXBIO in the fourth quarter worth $79,000. Finally, Laurion Capital Management LP purchased a new stake in shares of REGENXBIO in the fourth quarter worth $79,000. Institutional investors own 88.08% of the company’s stock.

REGENXBIO Company Profile

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.