Abeona Therapeutics (ABEO) Stock Price Up 12.8%

Abeona Therapeutics Inc (NASDAQ:ABEO) shares rose 12.8% on Thursday . The company traded as high as $10.37 and last traded at $9.88. Approximately 985,905 shares changed hands during trading, an increase of 14% from the average daily volume of 867,347 shares. The stock had previously closed at $8.76.

ABEO has been the subject of a number of analyst reports. Cantor Fitzgerald set a $36.00 price objective on Abeona Therapeutics and gave the company a “buy” rating in a research report on Friday, August 17th. Zacks Investment Research raised Abeona Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. Maxim Group reissued a “buy” rating and issued a $26.00 target price on shares of Abeona Therapeutics in a report on Monday. BidaskClub lowered Abeona Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, October 4th. Finally, ValuEngine lowered Abeona Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $25.90.

The firm has a market capitalization of $428.61 million, a P/E ratio of -14.97 and a beta of 1.77.

Abeona Therapeutics (NASDAQ:ABEO) last released its quarterly earnings results on Friday, August 10th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.06). The firm had revenue of $0.82 million during the quarter, compared to analysts’ expectations 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 anticipate that Abeona Therapeutics Inc will post -0.88 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Abeona Therapeutics by 47.7% in the 2nd quarter. FMR LLC now owns 7,094,307 shares of the biopharmaceutical company’s stock worth $113,509,000 after buying an additional 2,291,016 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Abeona Therapeutics by 16.6% in the 2nd quarter. BlackRock Inc. now owns 2,184,506 shares of the biopharmaceutical company’s stock worth $34,951,000 after buying an additional 311,034 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Abeona Therapeutics by 5.3% in the 2nd quarter. Millennium Management LLC now owns 964,839 shares of the biopharmaceutical company’s stock worth $15,437,000 after buying an additional 48,583 shares during the last quarter. Nexthera Capital LP boosted its stake in shares of Abeona Therapeutics by 69.6% in the 2nd quarter. Nexthera Capital LP now owns 626,804 shares of the biopharmaceutical company’s stock worth $10,029,000 after buying an additional 257,304 shares during the last quarter. Finally, PointState Capital LP purchased a new position in shares of Abeona Therapeutics in the 2nd quarter worth $9,210,000. Hedge funds and other institutional investors own 76.38% of the company’s stock.

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Abeona Therapeutics Company Profile (NASDAQ:ABEO)

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.

Further Reading: Understanding Price to Earnings Ratio (PE)

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