Brokers Issue Forecasts for Abeona Therapeutics Inc’s Q3 2019 Earnings (NASDAQ:ABEO)

Abeona Therapeutics Inc (NASDAQ:ABEO) – Analysts at SunTrust Banks lowered their Q3 2019 earnings estimates for shares of Abeona Therapeutics in a note issued to investors on Monday, August 12th. SunTrust Banks analyst J. Lee now anticipates that the biopharmaceutical company will post earnings per share of ($0.49) for the quarter, down from their previous forecast of ($0.37). SunTrust Banks also issued estimates for Abeona Therapeutics’ Q4 2019 earnings at ($0.42) EPS, FY2019 earnings at ($1.78) EPS and FY2020 earnings at ($1.34) EPS.

Abeona Therapeutics (NASDAQ:ABEO) last issued its earnings results on Friday, August 9th. The biopharmaceutical company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.13). Abeona Therapeutics had a negative return on equity of 59.99% and a negative net margin of 960.91%.

Several other research analysts have also weighed in on the stock. Cantor Fitzgerald lowered shares of Abeona Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, August 12th. Zacks Investment Research upgraded shares of Abeona Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 30th. Royal Bank of Canada lowered their target price on shares of Abeona Therapeutics to $16.00 and set a “positive” rating on the stock in a research report on Tuesday. They noted that the move was a valuation call. ValuEngine upgraded shares of Abeona Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Mizuho lowered shares of Abeona Therapeutics from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $17.00 to $4.00 in a research report on Friday, July 26th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $19.67.

Shares of ABEO opened at $2.20 on Thursday. The company has a current ratio of 2.54, a quick ratio of 3.35 and a debt-to-equity ratio of 0.06. The firm’s 50-day moving average is $3.49 and its two-hundred day moving average is $6.06. Abeona Therapeutics has a twelve month low of $2.12 and a twelve month high of $15.65. The firm has a market capitalization of $108.50 million, a P/E ratio of -1.85 and a beta of 1.89.

Hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in shares of Abeona Therapeutics by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 341,206 shares of the biopharmaceutical company’s stock valued at $2,436,000 after purchasing an additional 6,826 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Abeona Therapeutics by 440.5% during the 4th quarter. Bank of America Corp DE now owns 26,689 shares of the biopharmaceutical company’s stock valued at $190,000 after purchasing an additional 21,751 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its holdings in shares of Abeona Therapeutics by 247.2% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 10,194 shares of the biopharmaceutical company’s stock valued at $73,000 after purchasing an additional 7,258 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Abeona Therapeutics by 36.1% during the 1st quarter. Nisa Investment Advisors LLC now owns 37,700 shares of the biopharmaceutical company’s stock valued at $277,000 after purchasing an additional 10,000 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of Abeona Therapeutics by 21,590.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,507 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 6,477 shares during the last quarter. Institutional investors and hedge funds own 63.32% 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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Earnings History and Estimates for Abeona Therapeutics (NASDAQ:ABEO)

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