Brokerages Set REGENXBIO Inc. (NASDAQ:RGNX) PT at $38.58

REGENXBIO Inc. (NASDAQ:RGNXGet Free Report) has earned an average rating of “Moderate Buy” from the thirteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $38.58.

RGNX has been the topic of several analyst reports. Barclays raised their target price on REGENXBIO from $45.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. Robert W. Baird lifted their target price on shares of REGENXBIO from $34.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Leerink Partnrs raised shares of REGENXBIO from a “market perform” rating to an “outperform” rating in a research note on Wednesday, March 6th. Chardan Capital reiterated a “buy” rating and set a $52.00 price target on shares of REGENXBIO in a research report on Thursday, March 7th. Finally, The Goldman Sachs Group initiated coverage on REGENXBIO in a research report on Friday, June 7th. They issued a “buy” rating and a $38.00 price target for the company.

Check Out Our Latest Stock Analysis on REGENXBIO

REGENXBIO Trading Up 6.4 %

NASDAQ:RGNX opened at $12.79 on Thursday. The firm has a fifty day simple moving average of $14.96 and a 200-day simple moving average of $17.08. The company has a market capitalization of $630.04 million, a P/E ratio of -2.18 and a beta of 1.34. REGENXBIO has a 12 month low of $11.43 and a 12 month high of $28.80.

REGENXBIO (NASDAQ:RGNXGet Free Report) last released its earnings results on Wednesday, May 8th. The biotechnology company reported ($1.38) EPS for the quarter, missing analysts’ consensus estimates of ($1.28) by ($0.10). REGENXBIO had a negative return on equity of 70.72% and a negative net margin of 299.96%. The firm had revenue of $15.60 million for the quarter, compared to analyst estimates of $23.52 million. During the same period last year, the firm earned ($1.53) EPS. The company’s revenue for the quarter was down 18.3% compared to the same quarter last year. Equities analysts forecast that REGENXBIO will post -3.9 EPS for the current year.

Insider Activity at REGENXBIO

In other REGENXBIO news, CEO Kenneth T. Mills sold 15,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $15.81, for a total transaction of $237,150.00. Following the sale, the chief executive officer now directly owns 408,035 shares in the company, valued at $6,451,033.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.13% of the stock is currently owned by company insiders.

Institutional Trading of REGENXBIO

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in REGENXBIO by 9.8% in the 1st quarter. Vanguard Group Inc. now owns 4,876,881 shares of the biotechnology company’s stock valued at $102,756,000 after purchasing an additional 436,043 shares in the last quarter. Redmile Group LLC raised its holdings in REGENXBIO by 21.0% in the first quarter. Redmile Group LLC now owns 4,551,556 shares of the biotechnology company’s stock valued at $95,901,000 after acquiring an additional 790,866 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in REGENXBIO by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,226,957 shares of the biotechnology company’s stock worth $22,025,000 after acquiring an additional 34,385 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of REGENXBIO by 0.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 562,391 shares of the biotechnology company’s stock valued at $9,257,000 after purchasing an additional 1,493 shares during the last quarter. Finally, Perceptive Advisors LLC acquired a new stake in shares of REGENXBIO in the 4th quarter valued at $6,146,000. Hedge funds and other institutional investors own 88.08% of the company’s stock.

About REGENXBIO

(Get Free Report

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.

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Analyst Recommendations for REGENXBIO (NASDAQ:RGNX)

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