“Abeona reported 3Q17 with a net loss of $5.3M and ended the period with $56.5M in cash. The company also completed an equity financing in October raising $92M in cash. As of 10/31, Abeona reported $143M in cash on the balance sheet, sufficient runway for the next several years.”,” Maxim Group’s analyst commented.
A number of other equities research analysts have also commented on ABEO. BidaskClub lowered Abeona Therapeutics from a strong-buy rating to a buy rating in a research report on Thursday, July 27th. Zacks Investment Research lowered Abeona Therapeutics from a buy rating to a hold rating in a research report on Wednesday, August 16th. HC Wainwright reiterated a buy rating and issued a $20.00 price target on shares of Abeona Therapeutics in a research report on Thursday, August 24th. Royal Bank Of Canada began coverage on Abeona Therapeutics in a research report on Thursday, September 14th. They set an outperform rating and a $23.00 target price on the stock. Finally, Cantor Fitzgerald restated a buy rating and set a $21.00 target price on shares of Abeona Therapeutics in a research report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $24.70.
Shares of Abeona Therapeutics (NASDAQ ABEO) opened at $14.70 on Monday. Abeona Therapeutics has a 52-week low of $4.05 and a 52-week high of $22.75.
Abeona Therapeutics (NASDAQ:ABEO) last released its quarterly earnings results on Wednesday, November 15th. The biopharmaceutical company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.05. Abeona Therapeutics had a negative return on equity of 27.69% and a negative net margin of 2,946.58%. The firm had revenue of $0.22 million for the quarter, compared to analyst estimates of $0.22 million. research analysts expect that Abeona Therapeutics will post -0.7 EPS for the current fiscal year.
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A number of large investors have recently made changes to their positions in ABEO. Bank of New York Mellon Corp boosted its holdings in Abeona Therapeutics by 125.8% in the first quarter. Bank of New York Mellon Corp now owns 41,929 shares of the biopharmaceutical company’s stock worth $210,000 after acquiring an additional 23,358 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Abeona Therapeutics by 2.4% in the first quarter. Geode Capital Management LLC now owns 196,073 shares of the biopharmaceutical company’s stock worth $980,000 after acquiring an additional 4,588 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Abeona Therapeutics by 869.7% in the first quarter. Goldman Sachs Group Inc. now owns 116,000 shares of the biopharmaceutical company’s stock worth $580,000 after acquiring an additional 104,038 shares in the last quarter. Essex Investment Management Co. LLC bought a new position in Abeona Therapeutics in the second quarter worth approximately $594,000. Finally, Schwab Charles Investment Management Inc. bought a new position in Abeona Therapeutics in the second quarter worth approximately $264,000. Institutional investors and hedge funds own 36.34% of the company’s stock.
Abeona Therapeutics Company Profile
Abeona Therapeutics Inc is a clinical-stage biopharmaceutical company developing novel gene therapies for life-threatening rare genetic diseases. The Company’s lead programs include ABO-102 (AAV-SGSH), an adeno-associated virus (AAV) based gene therapy for Sanfilippo syndrome type A (MPS IIIA) and EB-101 (gene-corrected skin grafts) for recessive dystrophic epidermolysis bullosa (RDEB).
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