Regenxbio (RGNX) Given a $96.00 Price Target at Raymond James

Regenxbio (NASDAQ:RGNX) has been assigned a $96.00 price objective by investment analysts at Raymond James in a research note issued to investors on Thursday. The firm currently has a “buy” rating on the biotechnology company’s stock. Raymond James’ target price suggests a potential upside of 30.08% from the stock’s current price.

Several other brokerages have also recently issued reports on RGNX. TheStreet raised shares of Regenxbio from a “d+” rating to a “c” rating in a report on Monday, September 17th. Bank of America cut shares of Regenxbio from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $64.00 to $80.00 in a report on Monday, July 23rd. ValuEngine raised shares of Regenxbio from a “buy” rating to a “strong-buy” rating in a report on Friday, August 10th. Chardan Capital decreased their price objective on shares of Regenxbio from $130.00 to $127.50 and set a “buy” rating for the company in a report on Wednesday, August 8th. Finally, Zacks Investment Research raised shares of Regenxbio from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a report on Wednesday. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $83.50.

Shares of Regenxbio stock opened at $73.80 on Thursday. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of -30.12, a PEG ratio of 13.98 and a beta of -0.49. Regenxbio has a 52-week low of $23.25 and a 52-week high of $85.10.

Regenxbio (NASDAQ:RGNX) last issued its earnings results on Wednesday, November 7th. The biotechnology company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.12). Regenxbio had a return on equity of 28.70% and a net margin of 44.44%. As a group, sell-side analysts predict that Regenxbio will post 1.64 EPS for the current fiscal year.

In related news, CFO Vittal Vasista sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $65.43, for a total transaction of $490,725.00. Following the completion of the sale, the chief financial officer now directly owns 123,584 shares in the company, valued at $8,086,101.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Patrick J. Christmas sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $65.96, for a total transaction of $329,800.00. Following the sale, the senior vice president now owns 22,669 shares of the company’s stock, valued at $1,495,247.24. The disclosure for this sale can be found here. Insiders have sold 271,585 shares of company stock valued at $17,733,781 over the last three months. 16.90% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its position in Regenxbio by 89.9% during the second quarter. BlackRock Inc. now owns 4,218,413 shares of the biotechnology company’s stock valued at $302,671,000 after buying an additional 1,997,447 shares during the period. RTW Investments LP boosted its position in shares of Regenxbio by 10.7% in the second quarter. RTW Investments LP now owns 2,079,555 shares of the biotechnology company’s stock worth $149,208,000 after purchasing an additional 201,788 shares during the period. Northern Trust Corp boosted its position in shares of Regenxbio by 21.2% in the second quarter. Northern Trust Corp now owns 359,040 shares of the biotechnology company’s stock worth $25,762,000 after purchasing an additional 62,849 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Regenxbio by 140.6% in the second quarter. Bank of New York Mellon Corp now owns 319,330 shares of the biotechnology company’s stock worth $22,911,000 after purchasing an additional 186,595 shares during the period. Finally, Botty Investors LLC boosted its position in shares of Regenxbio by 9.0% in the third quarter. Botty Investors LLC now owns 224,187 shares of the biotechnology company’s stock worth $16,926,000 after purchasing an additional 18,473 shares during the period. Institutional investors own 81.17% of the company’s stock.

Regenxbio Company Profile

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 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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Analyst Recommendations for Regenxbio (NASDAQ:RGNX)

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