Leerink Partnrs Predicts Reduced Earnings for REGENXBIO

REGENXBIO Inc. (NASDAQ:RGNX) – Analysts at Leerink Partnrs dropped their FY2024 earnings per share (EPS) estimates for REGENXBIO in a report issued on Wednesday, February 19th. Leerink Partnrs analyst M. Foroohar now expects that the biotechnology company will post earnings per share of ($4.93) for the year, down from their previous forecast of ($4.86). The consensus estimate for REGENXBIO’s current full-year earnings is ($4.84) per share. Leerink Partnrs also issued estimates for REGENXBIO’s Q4 2024 earnings at ($1.34) EPS, FY2025 earnings at ($1.57) EPS, FY2026 earnings at ($1.25) EPS, FY2027 earnings at ($1.88) EPS, FY2028 earnings at ($0.65) EPS and FY2029 earnings at $0.23 EPS.

Several other equities research analysts have also recently issued reports on the company. Chardan Capital reissued a “buy” rating and set a $52.00 target price on shares of REGENXBIO in a research note on Wednesday, November 20th. Raymond James began coverage on REGENXBIO in a research note on Friday, February 7th. They set an “outperform” rating and a $27.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and issued a $36.00 price objective on shares of REGENXBIO in a research note on Wednesday, January 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $30.00 price objective on shares of REGENXBIO in a report on Tuesday, January 21st. Finally, StockNews.com downgraded REGENXBIO from a “hold” rating to a “sell” rating in a report on Saturday, February 15th. One equities 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 stock. According to MarketBeat, REGENXBIO currently has an average rating of “Moderate Buy” and an average target price of $33.45.

REGENXBIO Stock Down 1.2 %

RGNX stock opened at $7.27 on Monday. The business has a fifty day moving average of $7.70 and a two-hundred day moving average of $9.59. The stock has a market cap of $360.16 million, a price-to-earnings ratio of -1.45 and a beta of 1.29. REGENXBIO has a 52-week low of $6.56 and a 52-week high of $28.80.

Institutional Investors Weigh In On REGENXBIO

Large investors have recently bought and sold shares of the stock. Barclays PLC increased its holdings in REGENXBIO by 141.3% during the 3rd quarter. Barclays PLC now owns 116,024 shares of the biotechnology company’s stock worth $1,217,000 after purchasing an additional 67,948 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of REGENXBIO by 53.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 856,572 shares of the biotechnology company’s stock worth $6,621,000 after acquiring an additional 296,700 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of REGENXBIO by 602.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 20,441 shares of the biotechnology company’s stock worth $214,000 after acquiring an additional 17,533 shares in the last quarter. FMR LLC boosted its position in shares of REGENXBIO by 166.8% during the 3rd quarter. FMR LLC now owns 2,649 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 1,656 shares in the last quarter. Finally, Stifel Financial Corp boosted its position in shares of REGENXBIO by 13.3% during the 3rd quarter. Stifel Financial Corp now owns 149,280 shares of the biotechnology company’s stock worth $1,566,000 after acquiring an additional 17,563 shares in the last quarter. Hedge funds and other institutional investors own 88.08% of the company’s stock.

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.