Stifel Nicolaus Cuts Abeona Therapeutics (NASDAQ:ABEO) Price Target to $20.00

Abeona Therapeutics (NASDAQ:ABEO) had its price target cut by Stifel Nicolaus from $21.00 to $20.00 in a research note published on Friday morning,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

A number of other equities research analysts also recently commented on the company. Oppenheimer assumed coverage on Abeona Therapeutics in a report on Wednesday, March 5th. They issued an “outperform” rating and a $16.00 price objective for the company. StockNews.com downgraded Abeona Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday. Finally, HC Wainwright increased their price objective on Abeona Therapeutics from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.50.

Abeona Therapeutics Price Performance

Abeona Therapeutics stock opened at $6.10 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 6.12 and a current ratio of 6.12. Abeona Therapeutics has a 52 week low of $3.93 and a 52 week high of $7.32. The firm has a market cap of $297.68 million, a P/E ratio of -2.27 and a beta of 1.68. The business’s fifty day moving average is $5.18 and its two-hundred day moving average is $5.55.

Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings results on Thursday, May 15th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.11. Equities research analysts forecast that Abeona Therapeutics will post -1.16 earnings per share for the current fiscal year.

Insider Activity at Abeona Therapeutics

In other news, Director Mark Alvino sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $5.68, for a total value of $45,440.00. Following the completion of the sale, the director now directly owns 92,435 shares of the company’s stock, valued at $525,030.80. This trade represents a 7.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Vishwas Seshadri sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $4.78, for a total value of $119,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,355,322 shares of the company’s stock, valued at approximately $6,478,439.16. The trade was a 1.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.90% of the company’s stock.

Institutional Trading of Abeona Therapeutics

A number of hedge funds have recently made changes to their positions in the business. Twinbeech Capital LP bought a new position in shares of Abeona Therapeutics during the fourth quarter worth approximately $58,000. Squarepoint Ops LLC bought a new position in Abeona Therapeutics during the 4th quarter worth $67,000. Cannon Global Investment Management LLC bought a new position in Abeona Therapeutics during the 1st quarter worth $67,000. Oxford Asset Management LLP bought a new position in Abeona Therapeutics during the 4th quarter worth $118,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of Abeona Therapeutics in the 4th quarter valued at $190,000. 80.56% of the stock is owned by institutional investors and hedge funds.

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.