Analysts Set REGENXBIO Inc. (NASDAQ:RGNX) Price Target at $33.88

REGENXBIO Inc. (NASDAQ:RGNX) has received a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $33.88.

A number of brokerages recently weighed in on RGNX. StockNews.com upgraded shares of REGENXBIO from a “sell” rating to a “hold” rating in a report on Friday, March 7th. HC Wainwright decreased their price target on REGENXBIO from $36.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Raymond James started coverage on REGENXBIO in a research report on Friday, February 7th. They set an “outperform” rating and a $27.00 price objective on the stock. The Goldman Sachs Group lowered REGENXBIO from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $38.00 to $14.00 in a research report on Tuesday, February 11th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $30.00 target price on shares of REGENXBIO in a research note on Tuesday, January 21st.

REGENXBIO Price Performance

RGNX opened at $8.70 on Friday. The firm has a market cap of $435.75 million, a PE ratio of -1.73 and a beta of 1.35. The stock has a 50-day moving average price of $7.34 and a 200-day moving average price of $8.85. REGENXBIO has a 1 year low of $5.62 and a 1 year high of $22.42.

REGENXBIO (NASDAQ:RGNX) last issued its earnings results on Thursday, March 13th. The biotechnology company reported ($1.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.27) by $0.26. The business had revenue of $21.21 million during the quarter, compared to analysts’ expectations of $23.70 million. REGENXBIO had a negative net margin of 283.19% and a negative return on equity of 70.65%. As a group, sell-side analysts anticipate that REGENXBIO will post -4.84 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RGNX. Redmile Group LLC lifted its stake in shares of REGENXBIO by 7.1% in the 3rd quarter. Redmile Group LLC now owns 4,892,902 shares of the biotechnology company’s stock worth $51,327,000 after purchasing an additional 323,100 shares during the period. JPMorgan Chase & Co. increased its position in REGENXBIO by 67.0% in the fourth quarter. JPMorgan Chase & Co. now owns 4,136,517 shares of the biotechnology company’s stock worth $31,975,000 after buying an additional 1,659,206 shares in the last quarter. Millennium Management LLC increased its holdings in REGENXBIO by 406.3% in the 4th quarter. Millennium Management LLC now owns 1,322,344 shares of the biotechnology company’s stock worth $10,222,000 after acquiring an additional 1,061,187 shares in the last quarter. Balyasny Asset Management L.P. increased its stake in shares of REGENXBIO by 6.0% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,187,102 shares of the biotechnology company’s stock worth $9,176,000 after purchasing an additional 66,993 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in REGENXBIO by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,171,422 shares of the biotechnology company’s stock worth $9,054,000 after buying an additional 21,234 shares in the last quarter. 88.08% of the stock is owned by hedge funds and other institutional investors.

About REGENXBIO

REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapies that deliver functional genes to cells with genetic defects in the United States. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus gene delivery platform. The company’s products in pipeline includes ABBV-RGX-314 for the treatment of wet age-related macular degeneration, diabetic retinopathy, and other chronic retinal diseases; and RGX-202, which is in Phase I/II clinical trial for the treatment of Duchenne muscular dystrophy.