Abeona Therapeutics Inc Forecasted to Earn FY2023 Earnings of $0.47 Per Share (NASDAQ:ABEO)

Abeona Therapeutics Inc (NASDAQ:ABEO) – Equities research analysts at Jefferies Financial Group cut their FY2023 earnings estimates for Abeona Therapeutics in a note issued to investors on Monday, August 12th. Jefferies Financial Group analyst M. Raycroft now anticipates that the biopharmaceutical company will post earnings of $0.47 per share for the year, down from their prior forecast of $0.63.

Abeona Therapeutics (NASDAQ:ABEO) last announced its quarterly earnings results on Friday, August 9th. The biopharmaceutical company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.13). Abeona Therapeutics had a negative net margin of 960.91% and a negative return on equity of 56.99%.

A number of other analysts also recently weighed in on the stock. HC Wainwright began coverage on shares of Abeona Therapeutics in a report on Monday. They issued a “buy” rating and a $15.00 target price on the stock. ValuEngine upgraded shares of Abeona Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Cantor Fitzgerald cut shares of Abeona Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday. Zacks Investment Research raised shares of Abeona Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 30th. Finally, Maxim Group reissued a “buy” rating on shares of Abeona Therapeutics in a research report on Wednesday, May 1st. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $19.67.

Abeona Therapeutics stock opened at $2.39 on Wednesday. The business has a 50-day simple moving average of $3.63. Abeona Therapeutics has a twelve month low of $2.12 and a twelve month high of $15.65. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.35 and a current ratio of 3.35. The company has a market cap of $112.58 million, a P/E ratio of -2.01 and a beta of 1.89.

Several institutional investors and hedge funds have recently made changes to their positions in ABEO. BlackRock Inc. lifted its position in shares of Abeona Therapeutics by 5.9% in the 2nd quarter. BlackRock Inc. now owns 2,459,931 shares of the biopharmaceutical company’s stock worth $11,759,000 after purchasing an additional 137,558 shares during the period. Fosun International Ltd lifted its position in shares of Abeona Therapeutics by 37.6% in the 1st quarter. Fosun International Ltd now owns 98,900 shares of the biopharmaceutical company’s stock worth $719,000 after purchasing an additional 27,000 shares during the period. Capital Fund Management S.A. purchased a new stake in shares of Abeona Therapeutics in the 2nd quarter worth approximately $126,000. Bank of America Corp DE lifted its position in shares of Abeona Therapeutics by 440.5% in the 4th quarter. Bank of America Corp DE now owns 26,689 shares of the biopharmaceutical company’s stock worth $190,000 after purchasing an additional 21,751 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in shares of Abeona Therapeutics in the 2nd quarter worth approximately $96,000. 63.32% of the stock is owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for Abeona Therapeutics (NASDAQ:ABEO)

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