Abeona Therapeutics (NASDAQ:ABEO) Rating Lowered to Sell at Zacks Investment Research

Abeona Therapeutics (NASDAQ:ABEO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday, Zacks.com reports.

According to Zacks, “Abeona Therapeutics, Inc. is engaged in developing and delivering gene therapy and plasma-based products for rare diseases. Abeona Therapeutics Inc., formerly known as PlasmaTech Biopharmaceuticals, Inc., is based in Dallas, United States. “

Other equities research analysts have also recently issued research reports about the company. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Mizuho began coverage on Avrobio in a research note on Wednesday, June 26th. They set a “buy” rating and a $28.00 price objective on the stock. Cantor Fitzgerald reiterated a “buy” rating and set a $29.00 price objective on shares of Abeona Therapeutics in a research note on Tuesday, May 14th. HC Wainwright set a $55.00 price objective on Acer Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Finally, Maxim Group reiterated a “buy” rating on shares of Abeona Therapeutics in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $24.60.

NASDAQ ABEO opened at $3.92 on Tuesday. The company has a market cap of $196.16 million, a PE ratio of -3.29 and a beta of 1.96. The company has a 50 day moving average price of $4.89. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.35 and a quick ratio of 3.35. Abeona Therapeutics has a 52 week low of $3.87 and a 52 week high of $15.65.

Abeona Therapeutics (NASDAQ:ABEO) last released its earnings results on Friday, May 10th. The biopharmaceutical company reported ($0.39) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by ($0.08). Abeona Therapeutics had a negative net margin of 960.91% and a negative return on equity of 45.58%. Sell-side analysts forecast that Abeona Therapeutics will post -1.6 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in ABEO. Rhumbline Advisers grew its position in Abeona Therapeutics by 46.9% during the 4th quarter. Rhumbline Advisers now owns 41,640 shares of the biopharmaceutical company’s stock worth $297,000 after purchasing an additional 13,300 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Abeona Therapeutics by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 341,206 shares of the biopharmaceutical company’s stock valued at $2,436,000 after acquiring an additional 6,826 shares in the last quarter. Barclays PLC boosted its holdings in shares of Abeona Therapeutics by 184.9% in the fourth quarter. Barclays PLC now owns 62,885 shares of the biopharmaceutical company’s stock valued at $450,000 after acquiring an additional 40,811 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Abeona Therapeutics by 440.5% in the fourth quarter. Bank of America Corp DE now owns 26,689 shares of the biopharmaceutical company’s stock valued at $190,000 after acquiring an additional 21,751 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new stake in shares of Abeona Therapeutics in the fourth quarter valued at about $203,000. Institutional investors own 63.61% of the company’s stock.

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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