Abeona Therapeutics Gets a Buy Rating from Cantor Fitzgerald

In a report released today, Elemer Piros from Cantor Fitzgerald reiterated a Buy rating on Abeona Therapeutics (NASDAQ: ABEO), with a price target of $36. The company’s shares opened today at $16.03.

Piros wrote:

“We rate Abeona Therapeutics Overweight. Abeona focuses on developing and delivering gene therapy and plasma-based products for severe and life-threatening rare diseases. Its lead programs are ABO-101 and ABO-102, adeno-associated virus (AAV)-based gene therapies for Sanfilippo syndrome. Valuation Summary We value Abeona based on a risk-adjusted NPV of future cash flows associated with its developmental stage programs. Our 12-month price target is $36/share.”

According to TipRanks.com, Piros is a 1-star analyst with an average return of -2.1% and a 50.9% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Strongbridge Biopharma Plc, and Global Blood Therapeutics.

Currently, the analyst consensus on Abeona Therapeutics is Strong Buy and the average price target is $31, representing a 93.4% upside.

In a report issued on May 8, Maxim Group also maintained a Buy rating on the stock with a $35 price target.

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Based on Abeona Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $8.46 million. In comparison, last year the company had a GAAP net loss of $5.25 million.

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Abeona Therapeutics, Inc. is a clinical stage biopharmaceutical company, which engages in the development of gene therapy and plasma-based products for severe and life threatening rare diseases. It includes gene therapies for sanfilippo syndrome, recessive dystrophic epidermolysis bullosa, infantile batten disease, fanconi anemia disorder, and for rare blood diseases. The company was founded in 1974 and is headquartered in Dallas, TX.