H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Abeona Therapeutics (ABEO) today and set a price target of $30. The company’s shares closed on Friday at $7.69, close to its 52-week low of $6.26.
Selvaraju commented:
“Valuation methodology, risks and uncertainties. We ascribe a total risk-adjusted net present value (rNPV) of $1.46B to Abeona’s technology platforms, which yields a price per share of $30.00 based on about 48M shares outstanding as of end-2019. We utilize an 85% probability of success for EB-101.”
According to TipRanks.com, Selvaraju is a 3-star analyst with an average return of 0.9% and a 38.9% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.
Currently, the analyst consensus on Abeona Therapeutics is a Strong Buy with an average price target of $25, a 225.1% upside from current levels. In a report issued on April 4, Mizuho Securities also maintained a Buy rating on the stock with a $17 price target.
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Based on Abeona Therapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $17.48 million. In comparison, last year the company had a GAAP net loss of $8.46 million.
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Abeona Therapeutics, Inc. is a clinical stage biopharmaceutical company, which engages in the development of gene therapy for severe and life threatening rare diseases. It programs include EB-101 (gene-corrected skin grafts) for recessive dystrophic epidermolysis bullosa (RDEB); ABO-102 (AAV-SGSH), an adeno-associated virus (AAV) based gene therapy for Sanfilippo syndrome type A (MPS IIIA) and ABO-101 (AAV NAGLU), an AAV based gene therapy for Sanfilippo syndrome type B (MPS IIIB). The company was founded in 1974 and is headquartered in New York, NY.
