Cantor Fitzgerald Maintains Their Buy Rating on Abeona Therapeutics (ABEO)


In a report released today, Elemer Piros from Cantor Fitzgerald maintained a Buy rating on Abeona Therapeutics (NASDAQ: ABEO), with a price target of $36. The company’s shares opened today at $12.81.

Piros noted:

“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 and EB-101 for recessive dystrophic epidermolysis bullosa. 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 -0.6% and a 48.2% 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 a Strong Buy with an average price target of $33.67, a 162.8% upside from current levels. In a report issued on September 21, H.C. Wainwright also reiterated a Buy rating on the stock with a $30 price target.

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Based on Abeona Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $11.7 million. In comparison, last year the company had a GAAP net loss of $5.34 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 Dallas, TX.

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