Abeona Therapeutics (ABEO) Downgraded to Sell at Zacks Investment Research

Abeona Therapeutics (NASDAQ:ABEO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Abeona Therapeutics, Inc. is engaged in developing and delivering gene therapy and plasma-based products for rare diseases. Abeona Therapeutics Inc., formerly known as PlasmaTech Biopharmaceuticals, Inc., is based in Dallas, United States. “

A number of other equities research analysts have also recently commented on the stock. ValuEngine raised shares of Abeona Therapeutics from a “hold” rating to a “buy” rating in a research note on Friday, June 1st. HC Wainwright set a $30.00 target price on Abeona Therapeutics and gave the company a “buy” rating in a research report on Tuesday, May 29th. SunTrust Banks decreased their target price on Abeona Therapeutics to $23.00 and set a “positive” rating on the stock in a research report on Wednesday, May 16th. BidaskClub lowered Abeona Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, April 26th. Finally, Seaport Global Securities started coverage on Abeona Therapeutics in a research report on Tuesday, June 5th. They set a “buy” rating and a $29.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $28.30.

Shares of NASDAQ ABEO opened at $13.70 on Wednesday. The company has a market cap of $645.72 million, a PE ratio of -20.76 and a beta of 1.37. Abeona Therapeutics has a 12 month low of $7.45 and a 12 month high of $22.75.

Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings data on Friday, August 10th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.06). The firm had revenue of $0.82 million for the quarter, compared to analyst estimates of $1.81 million. Abeona Therapeutics had a negative return on equity of 23.02% and a negative net margin of 881.74%. research analysts forecast that Abeona Therapeutics will post -0.71 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in ABEO. Wells Fargo & Company MN lifted its position in shares of Abeona Therapeutics by 32.1% during the 4th quarter. Wells Fargo & Company MN now owns 46,529 shares of the biopharmaceutical company’s stock valued at $738,000 after buying an additional 11,311 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Abeona Therapeutics by 11.4% during the 4th quarter. Geode Capital Management LLC now owns 277,958 shares of the biopharmaceutical company’s stock valued at $4,405,000 after buying an additional 28,498 shares in the last quarter. Teachers Advisors LLC lifted its position in shares of Abeona Therapeutics by 16.0% during the 4th quarter. Teachers Advisors LLC now owns 51,462 shares of the biopharmaceutical company’s stock valued at $816,000 after buying an additional 7,108 shares in the last quarter. MetLife Investment Advisors LLC purchased a new position in shares of Abeona Therapeutics during the 4th quarter valued at approximately $194,000. Finally, Trexquant Investment LP purchased a new position in Abeona Therapeutics in the 1st quarter valued at $260,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

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.

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