Abeona Therapeutics (NASDAQ:ABEO) Downgraded by Maxim Group to “Hold”

Maxim Group lowered shares of Abeona Therapeutics (NASDAQ:ABEO) from a buy rating to a hold rating in a research report sent to investors on Thursday, BenzingaRatingsTable reports.

ABEO has been the subject of several other reports. Cantor Fitzgerald cut shares of Abeona Therapeutics from an overweight rating to a neutral rating in a research note on Monday, August 12th. ValuEngine raised shares of Abeona Therapeutics from a sell rating to a hold rating in a research note on Thursday, August 1st. HC Wainwright initiated coverage on shares of Abeona Therapeutics in a research note on Monday, August 12th. They set a buy rating and a $15.00 price target for the company. Mizuho cut shares of Abeona Therapeutics from a buy rating to a neutral rating and decreased their price target for the stock from $17.00 to $4.00 in a research note on Friday, July 26th. Finally, Zacks Investment Research raised shares of Abeona Therapeutics from a sell rating to a hold rating in a research note on Tuesday, July 30th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Abeona Therapeutics presently has an average rating of Hold and an average price target of $19.67.

Shares of ABEO opened at $2.20 on Thursday. The stock has a market capitalization of $107.01 million, a P/E ratio of -1.85 and a beta of 1.89. Abeona Therapeutics has a twelve month low of $2.12 and a twelve month high of $15.65. The company has a 50 day moving average of $3.49 and a 200-day moving average of $6.06. The company has a quick ratio of 3.35, a current ratio of 2.54 and a debt-to-equity ratio of 0.06.

Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings results on Friday, August 9th. The biopharmaceutical company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.13). Abeona Therapeutics had a negative return on equity of 59.99% and a negative net margin of 960.91%. On average, sell-side analysts anticipate that Abeona Therapeutics will post -1.7 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ABEO. Vanguard Group Inc. boosted its holdings in shares of Abeona Therapeutics by 11.8% in the 2nd quarter. Vanguard Group Inc. now owns 1,828,699 shares of the biopharmaceutical company’s stock valued at $8,742,000 after buying an additional 193,618 shares during the last quarter. BlackRock Inc. boosted its holdings 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 valued at $11,759,000 after buying an additional 137,558 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Abeona Therapeutics in the 2nd quarter valued at approximately $196,000. Fosun International Ltd boosted its holdings 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 valued at $719,000 after buying an additional 27,000 shares during the last quarter. Finally, Capital Fund Management S.A. acquired a new stake in shares of Abeona Therapeutics in the 2nd quarter valued at approximately $126,000. 63.32% of the stock is owned by 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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