Zacks Investment Research Upgrades REGENXBIO (NASDAQ:RGNX) to Hold

REGENXBIO (NASDAQ:RGNX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Zacks.com reports.

According to Zacks, “REGENXBIO Inc. is a biotechnology company. The Company focuses on the development, commercialization and licensing of recombinant adeno-associated virus gene therapy. Its products candidates include RGX-501, for the treatment of homozygous familial hypercholesterolemia which uses the AAV8 vector to deliver the human low-density lipoprotein receptor gene to liver cells; RGX-111, for the treatment of Mucopolysaccharidosis Type I which uses the AAV9 vector to deliver the human a-l-iduronidase gene to the central nervous system; RGX-121, for the treatment of Mucopolysaccharidosis Type II; RGX-314, for the treatment of wet age-related macular degeneration and RGX-321, for the treatment of X-linked retinitis pigmentosa. REGENXBIO Inc. is headquartered in Rockville, Maryland. “

Several other brokerages have also weighed in on RGNX. BidaskClub lowered shares of REGENXBIO from a “sell” rating to a “strong sell” rating in a report on Friday. Barclays cut their price target on shares of REGENXBIO from $88.00 to $79.00 and set an “overweight” rating on the stock in a report on Thursday, September 24th. Morgan Stanley cut their price target on shares of REGENXBIO from $56.00 to $55.00 and set an “overweight” rating on the stock in a report on Monday, August 10th. Chardan Capital restated a “buy” rating and issued a $95.00 price target on shares of REGENXBIO in a report on Friday, August 14th. Finally, Raymond James restated a “buy” rating on shares of REGENXBIO in a report on Tuesday, August 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. REGENXBIO presently has an average rating of “Buy” and an average target price of $62.57.

Shares of RGNX stock opened at $28.74 on Friday. The firm has a market cap of $1.07 billion, a P/E ratio of -7.87 and a beta of 0.91. REGENXBIO has a 1-year low of $20.03 and a 1-year high of $54.97. The firm’s 50-day simple moving average is $28.51 and its 200-day simple moving average is $34.38.

REGENXBIO (NASDAQ:RGNX) last announced its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.91) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.89) by ($0.02). The company had revenue of $16.60 million for the quarter, compared to analysts’ expectations of $22.23 million. REGENXBIO had a negative return on equity of 31.06% and a negative net margin of 222.24%. The company’s revenue was up 110.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.04) earnings per share. As a group, equities analysts expect that REGENXBIO will post -3.08 earnings per share for the current year.

A number of large investors have recently modified their holdings of RGNX. Advisor Group Holdings Inc. acquired a new stake in REGENXBIO in the first quarter valued at approximately $48,000. Nisa Investment Advisors LLC grew its position in REGENXBIO by 55.6% in the second quarter. Nisa Investment Advisors LLC now owns 1,315 shares of the biotechnology company’s stock valued at $48,000 after acquiring an additional 470 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in REGENXBIO in the second quarter valued at approximately $51,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in REGENXBIO in the second quarter valued at approximately $63,000. Finally, Exane Derivatives grew its position in REGENXBIO by 15.9% in the third quarter. Exane Derivatives now owns 3,145 shares of the biotechnology company’s stock valued at $87,000 after acquiring an additional 431 shares in the last quarter. 77.45% of the stock is owned by institutional investors.

About REGENXBIO

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 or antibodies that are intended to impact disease. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus gene delivery platform.

Read More: Quiet Period Expirations

Get a free copy of the Zacks research report on REGENXBIO (RGNX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for REGENXBIO (NASDAQ:RGNX)

Receive News & Ratings for REGENXBIO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for REGENXBIO and related companies with MarketBeat.com's FREE daily email newsletter.