Cantor Fitzgerald Reaffirms Overweight Rating for Abeona Therapeutics (NASDAQ:ABEO)

Cantor Fitzgerald restated their overweight rating on shares of Abeona Therapeutics (NASDAQ:ABEO) in a report released on Friday morning, Benzinga reports. The firm currently has a $18.00 target price on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently weighed in on ABEO. HC Wainwright restated a buy rating and issued a $15.00 price objective on shares of Abeona Therapeutics in a research report on Wednesday, August 14th. Stifel Nicolaus initiated coverage on shares of Abeona Therapeutics in a research report on Thursday, May 30th. They issued a buy rating and a $21.00 price objective for the company. Finally, StockNews.com raised Abeona Therapeutics from a sell rating to a hold rating in a report on Tuesday, September 10th.

Abeona Therapeutics Trading Up 3.8 %

Shares of Abeona Therapeutics stock opened at $6.02 on Friday. The company has a quick ratio of 7.48, a current ratio of 7.48 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $246.60 million, a P/E ratio of -1.88 and a beta of 1.53. Abeona Therapeutics has a 12-month low of $3.05 and a 12-month high of $9.01. The company has a 50-day simple moving average of $5.23 and a 200 day simple moving average of $5.42.

Abeona Therapeutics (NASDAQ:ABEO) last issued its quarterly earnings data on Monday, August 12th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.42). Research analysts expect that Abeona Therapeutics will post -1.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Abeona Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC bought a new position in Abeona Therapeutics during the 1st quarter worth approximately $91,000. Jump Financial LLC acquired a new stake in Abeona Therapeutics in the fourth quarter worth $199,000. Bank of New York Mellon Corp boosted its position in shares of Abeona Therapeutics by 2.0% during the second quarter. Bank of New York Mellon Corp now owns 121,453 shares of the biopharmaceutical company’s stock worth $515,000 after purchasing an additional 2,434 shares in the last quarter. Simplify Asset Management Inc. acquired a new position in shares of Abeona Therapeutics in the 2nd quarter valued at $1,732,000. Finally, Renaissance Technologies LLC increased its position in shares of Abeona Therapeutics by 581.6% in the 2nd quarter. Renaissance Technologies LLC now owns 503,293 shares of the biopharmaceutical company’s stock valued at $2,134,000 after buying an additional 429,456 shares in the last quarter. Institutional investors own 80.56% 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.