Regenxbio Inc (NASDAQ:RGNX) Expected to Announce Quarterly Sales of $39.67 Million

Brokerages forecast that Regenxbio Inc (NASDAQ:RGNX) will report sales of $39.67 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Regenxbio’s earnings, with the highest sales estimate coming in at $67.54 million and the lowest estimate coming in at $11.80 million. Regenxbio reported sales of $40.78 million during the same quarter last year, which indicates a negative year-over-year growth rate of 2.7%. The business is scheduled to report its next earnings results on Wednesday, February 26th.

According to Zacks, analysts expect that Regenxbio will report full year sales of $59.12 million for the current financial year, with estimates ranging from $35.20 million to $91.00 million. For the next year, analysts expect that the business will report sales of $207.33 million, with estimates ranging from $169.67 million to $286.80 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Regenxbio.

Regenxbio (NASDAQ:RGNX) last announced its earnings results on Tuesday, November 5th. The biotechnology company reported ($0.94) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.91) by ($0.03). The firm had revenue of $14.70 million during the quarter, compared to analysts’ expectations of $7.46 million. Regenxbio had a negative net margin of 99.57% and a negative return on equity of 18.74%. The business’s revenue for the quarter was up 177.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.56) EPS.

A number of brokerages recently weighed in on RGNX. BidaskClub raised shares of Regenxbio from a “hold” rating to a “buy” rating in a research note on Saturday, January 11th. Morgan Stanley raised their price objective on Regenxbio from $55.00 to $58.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Chardan Capital reaffirmed a “buy” rating and set a $150.00 price objective on shares of Regenxbio in a research report on Wednesday, December 18th. ValuEngine downgraded Regenxbio from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 15th. Finally, Zacks Investment Research downgraded Regenxbio from a “buy” rating to a “hold” rating in a research report on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $74.83.

In other Regenxbio news, CFO Vittal Vasista sold 7,500 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $41.75, for a total value of $313,125.00. Following the transaction, the chief financial officer now directly owns 232,215 shares of the company’s stock, valued at $9,694,976.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Donald J. Hayden, Jr. sold 3,200 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $50.01, for a total transaction of $160,032.00. Following the completion of the transaction, the director now directly owns 3,200 shares in the company, valued at $160,032. The disclosure for this sale can be found here. Insiders have sold a total of 49,016 shares of company stock valued at $2,256,957 over the last three months. 13.80% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in RGNX. New York State Teachers Retirement System increased its position in Regenxbio by 17.9% during the 4th quarter. New York State Teachers Retirement System now owns 33,631 shares of the biotechnology company’s stock valued at $1,378,000 after purchasing an additional 5,100 shares during the period. Prentiss Smith & Co. Inc. lifted its stake in shares of Regenxbio by 58.2% in the 4th quarter. Prentiss Smith & Co. Inc. now owns 12,031 shares of the biotechnology company’s stock worth $493,000 after purchasing an additional 4,425 shares during the period. Rhenman & Partners Asset Management AB bought a new position in shares of Regenxbio in the 4th quarter worth approximately $3,073,000. IFP Advisors Inc lifted its stake in shares of Regenxbio by 532.0% in the 4th quarter. IFP Advisors Inc now owns 1,264 shares of the biotechnology company’s stock worth $52,000 after purchasing an additional 1,064 shares during the period. Finally, Sanders Morris Harris LLC bought a new position in shares of Regenxbio in the 4th quarter worth approximately $300,000. 78.43% of the stock is currently owned by hedge funds and other institutional investors.

Shares of RGNX stock traded down $1.16 on Thursday, hitting $43.98. The stock had a trading volume of 427,854 shares, compared to its average volume of 427,740. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of -24.99 and a beta of 0.84. The business has a 50 day moving average of $43.11 and a 200 day moving average of $40.34. The company has a debt-to-equity ratio of 0.01, a current ratio of 11.49 and a quick ratio of 11.49. Regenxbio has a 12-month low of $30.38 and a 12-month high of $63.21.

About Regenxbio

REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapy product candidates to deliver genes to cells to address genetic defects or to enable cells in the body to produce therapeutic proteins or antibodies that are intended to impact disease. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus (AAV) gene delivery platform.

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