Regenxbio Inc (NASDAQ:RGNX) Receives Consensus Rating of “Buy” from Brokerages

Shares of Regenxbio Inc (NASDAQ:RGNX) have been given a consensus rating of “Buy” by the eleven brokerages that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $87.83.

RGNX has been the subject of a number of research reports. BidaskClub downgraded Regenxbio from a “sell” rating to a “strong sell” rating in a research report on Thursday. Evercore ISI set a $79.00 target price on Regenxbio and gave the company a “buy” rating in a research report on Wednesday, August 7th. TheStreet downgraded Regenxbio from a “c” rating to a “d+” rating in a research report on Thursday, May 9th. Chardan Capital reiterated a “buy” rating and set a $150.00 target price (up from $145.00) on shares of Regenxbio in a research report on Tuesday, June 18th. Finally, ValuEngine upgraded Regenxbio from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 1st.

In related news, SVP Patrick J. Christmas sold 5,000 shares of the firm’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $50.03, for a total value of $250,150.00. Following the completion of the sale, the senior vice president now directly owns 3,058 shares in the company, valued at $152,991.74. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Curran Simpson sold 18,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $50.00, for a total value of $900,000.00. Following the completion of the sale, the senior vice president now owns 57,500 shares of the company’s stock, valued at $2,875,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,000 shares of company stock valued at $3,590,400. 13.80% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Mckinley Capital Management LLC Delaware increased its stake in Regenxbio by 51.8% in the first quarter. Mckinley Capital Management LLC Delaware now owns 888 shares of the biotechnology company’s stock worth $51,000 after purchasing an additional 303 shares during the period. Financial Gravity Wealth Inc. purchased a new stake in Regenxbio in the first quarter worth $55,000. Berman Capital Advisors LLC increased its stake in Regenxbio by 41.6% in the second quarter. Berman Capital Advisors LLC now owns 1,133 shares of the biotechnology company’s stock worth $58,000 after purchasing an additional 333 shares during the period. NEXT Financial Group Inc purchased a new stake in Regenxbio in the second quarter worth $69,000. Finally, SG3 Management LLC purchased a new stake in Regenxbio in the first quarter worth $115,000. Institutional investors own 80.76% of the company’s stock.

RGNX stock traded up $1.65 during midday trading on Friday, hitting $37.18. The company’s stock had a trading volume of 477,700 shares, compared to its average volume of 613,350. Regenxbio has a 12 month low of $35.40 and a 12 month high of $83.45. The company has a quick ratio of 14.58, a current ratio of 14.58 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 15.62 and a beta of 0.71. The company has a 50 day moving average of $45.54 and a two-hundred day moving average of $49.44.

Regenxbio (NASDAQ:RGNX) last posted its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported ($0.04) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.50) by $0.46. The business had revenue of $7.88 million during the quarter, compared to the consensus estimate of $5.45 million. Regenxbio had a negative return on equity of 15.39% and a negative net margin of 88.57%. The firm’s revenue for the quarter was down 80.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.30 EPS. On average, analysts anticipate that Regenxbio will post -2.85 earnings per share for the current fiscal year.

About Regenxbio

REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapy product candidates to deliver genes to cells to address genetic defects or to enable cells in the body to produce therapeutic proteins or antibodies that are intended to impact disease. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus (AAV) gene delivery platform.

Recommended Story: Why do companies issue convertible shares?

Analyst Recommendations for Regenxbio (NASDAQ:RGNX)

Receive News & Ratings for Regenxbio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regenxbio and related companies with MarketBeat.com's FREE daily email newsletter.