HC Wainwright Reaffirms “Buy” Rating for Abeona Therapeutics (NASDAQ:ABEO)

Abeona Therapeutics (NASDAQ:ABEO)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a report issued on Monday,Benzinga reports. They currently have a $15.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price objective indicates a potential upside of 191.26% from the company’s previous close.

Several other equities analysts have also issued reports on the stock. StockNews.com lowered shares of Abeona Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, February 22nd. Oppenheimer assumed coverage on Abeona Therapeutics in a report on Wednesday, March 5th. They issued an “outperform” rating and a $16.00 price target on the stock. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.50.

Abeona Therapeutics Stock Performance

NASDAQ ABEO opened at $5.15 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 6.12 and a current ratio of 6.12. Abeona Therapeutics has a fifty-two week low of $3.05 and a fifty-two week high of $8.45. The company has a market cap of $223.88 million, a P/E ratio of -1.91 and a beta of 1.79. The business’s 50 day moving average price is $5.44 and its 200-day moving average price is $5.83.

Abeona Therapeutics (NASDAQ:ABEO) last posted its quarterly earnings results on Thursday, March 20th. The biopharmaceutical company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.19. Sell-side analysts predict that Abeona Therapeutics will post -1.16 earnings per share for the current year.

Hedge Funds Weigh In On Abeona Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Jane Street Group LLC acquired a new stake in shares of Abeona Therapeutics in the 3rd quarter worth $84,000. JPMorgan Chase & Co. boosted its holdings in Abeona Therapeutics by 74.2% in the third quarter. JPMorgan Chase & Co. now owns 67,138 shares of the biopharmaceutical company’s stock worth $424,000 after acquiring an additional 28,606 shares in the last quarter. Western Standard LLC grew its stake in shares of Abeona Therapeutics by 7.0% during the third quarter. Western Standard LLC now owns 1,698,097 shares of the biopharmaceutical company’s stock worth $10,732,000 after acquiring an additional 110,998 shares during the last quarter. Charles Schwab Investment Management Inc. acquired a new position in shares of Abeona Therapeutics during the third quarter valued at about $151,000. Finally, XTX Topco Ltd purchased a new position in shares of Abeona Therapeutics in the 3rd quarter valued at approximately $160,000. 80.56% of the stock is owned by hedge funds and other 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.