$1.68 Million in Sales Expected for Abeona Therapeutics Inc (ABEO) This Quarter

Wall Street brokerages expect Abeona Therapeutics Inc (NASDAQ:ABEO) to post $1.68 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Abeona Therapeutics’ earnings, with the highest sales estimate coming in at $2.20 million and the lowest estimate coming in at $1.18 million. Abeona Therapeutics reported sales of $220,000.00 in the same quarter last year, which indicates a positive year-over-year growth rate of 663.6%. The company is scheduled to report its next earnings report on Wednesday, November 21st.

According to Zacks, analysts expect that Abeona Therapeutics will report full-year sales of $6.08 million for the current financial year, with estimates ranging from $5.63 million to $6.83 million. For the next fiscal year, analysts expect that the business will post sales of $18.32 million, with estimates ranging from $4.23 million to $43.30 million. Zacks’ sales averages are an average based on a survey of research firms that follow Abeona Therapeutics.

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). Abeona Therapeutics had a negative return on equity of 23.02% and a negative net margin of 881.74%. The firm had revenue of $0.82 million during the quarter, compared to analyst estimates of $1.81 million.

ABEO has been the topic of a number of recent analyst reports. Cantor Fitzgerald set a $36.00 price objective on shares of Abeona Therapeutics and gave the stock a “buy” rating in a report on Monday, October 1st. Zacks Investment Research upgraded shares of Abeona Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of Abeona Therapeutics in a report on Thursday, September 13th. Mizuho initiated coverage on shares of Abeona Therapeutics in a report on Thursday, October 11th. They issued a “buy” rating and a $17.00 price objective on the stock. Finally, ValuEngine lowered shares of Abeona Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, October 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Abeona Therapeutics currently has an average rating of “Buy” and an average target price of $25.90.

Several large investors have recently made changes to their positions in ABEO. FMR LLC grew its position in shares of Abeona Therapeutics by 47.7% during the 2nd quarter. FMR LLC now owns 7,094,307 shares of the biopharmaceutical company’s stock valued at $113,509,000 after buying an additional 2,291,016 shares during the last quarter. Millennium Management LLC grew its position in shares of Abeona Therapeutics by 2,357.3% during the 1st quarter. Millennium Management LLC now owns 916,256 shares of the biopharmaceutical company’s stock valued at $13,148,000 after buying an additional 878,969 shares during the last quarter. PointState Capital LP bought a new stake in shares of Abeona Therapeutics during the 2nd quarter valued at about $9,210,000. BlackRock Inc. grew its position in shares of Abeona Therapeutics by 16.6% during the 2nd quarter. BlackRock Inc. now owns 2,184,506 shares of the biopharmaceutical company’s stock valued at $34,951,000 after buying an additional 311,034 shares during the last quarter. Finally, Nexthera Capital LP grew its position in shares of Abeona Therapeutics by 69.6% during the 2nd quarter. Nexthera Capital LP now owns 626,804 shares of the biopharmaceutical company’s stock valued at $10,029,000 after buying an additional 257,304 shares during the last quarter. 76.38% of the stock is owned by institutional investors and hedge funds.

ABEO stock traded down $0.52 during trading on Friday, reaching $9.36. The stock had a trading volume of 591,945 shares, compared to its average volume of 657,835. Abeona Therapeutics has a 1-year low of $8.52 and a 1-year high of $22.00. The firm has a market capitalization of $419.98 million, a P/E ratio of -14.18 and a beta of 1.77.

About Abeona Therapeutics

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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