Abeona Therapeutics (ABEO) PT Lowered to $23.00 at SunTrust Banks

Abeona Therapeutics (NASDAQ:ABEO) had its target price dropped by analysts at SunTrust Banks to $23.00 in a research note issued to investors on Wednesday. The brokerage presently has a “positive” rating on the biopharmaceutical company’s stock. SunTrust Banks’ target price would suggest a potential upside of 7.23% from the stock’s previous close.

A number of other equities research analysts have also commented on the company. Royal Bank of Canada restated a “buy” rating and set a $26.00 price target on shares of Abeona Therapeutics in a research report on Wednesday, January 24th. Maxim Group restated a “buy” rating and set a $35.00 price target on shares of Abeona Therapeutics in a research report on Wednesday, February 7th. HC Wainwright set a $30.00 price target on Abeona Therapeutics and gave the stock a “buy” rating in a research report on Monday, April 2nd. BidaskClub lowered Abeona Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, January 23rd. Finally, Cantor Fitzgerald set a $36.00 price target on Abeona Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, March 20th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $28.50.

Abeona Therapeutics opened at $21.45 on Wednesday, according to MarketBeat.com. The company has a market cap of $969.76 million, a P/E ratio of -32.50 and a beta of 1.27. Abeona Therapeutics has a one year low of $20.30 and a one year high of $21.00.

Abeona Therapeutics (NASDAQ:ABEO) last released its quarterly earnings results on Monday, May 14th. The biopharmaceutical company reported ($0.18) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.01. The business had revenue of $2.60 million for the quarter, compared to analyst estimates of $0.27 million. Abeona Therapeutics had a negative return on equity of 23.57% and a negative net margin of 939.83%. analysts anticipate that Abeona Therapeutics will post -0.78 earnings per share for the current year.

A number of large investors have recently bought and sold shares of the business. Millennium Management LLC lifted its holdings in Abeona Therapeutics by 2,357.3% during the 1st quarter. Millennium Management LLC now owns 916,256 shares of the biopharmaceutical company’s stock worth $13,148,000 after buying an additional 878,969 shares in the last quarter. Nexthera Capital LP acquired a new position in Abeona Therapeutics during the 1st quarter worth $5,302,000. Sabby Management LLC acquired a new position in Abeona Therapeutics during the 1st quarter worth $187,000. UBS Group AG lifted its holdings in Abeona Therapeutics by 36.5% during the 1st quarter. UBS Group AG now owns 152,081 shares of the biopharmaceutical company’s stock worth $2,182,000 after buying an additional 40,680 shares in the last quarter. Finally, Knott David M acquired a new position in Abeona Therapeutics during the 1st quarter worth $101,000. 62.04% of the stock is currently owned by hedge funds and other institutional investors.

Abeona Therapeutics Company Profile

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.

Analyst Recommendations for Abeona Therapeutics (NASDAQ:ABEO)

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