Cantor Fitzgerald analyst Elemer Piros reiterated a Buy rating on Abeona Therapeutics (ABEO) today and set a price target of $29. The company’s shares opened today at $8.09, close to its 52-week low of $6.26.
Piros said:
“: We are reiterating our OW rating on Abeona and lowering out 12-month price target to $29/share from $36/share. This morning, Abeona held a conference call to discuss results from the 2018 fiscal year. Our price target decline is related to moving our launch years for Sanfilippo syndrome (Types A and B) and dystrophic epidermolysis bullosa (DEB). In 2019 we will look to see how newly promoted management (CEO, CFO) will transform the company towards pivotal stage development, and advance the remaining pipeline. Abeona has guided towards announcing trial data and enrollment updates for clinical programs in 2H19.”
According to TipRanks.com, Piros is a 1-star analyst with an average return of -1.3% and a 44.8% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Nightstar Therapeutics Limited, and Proteostasis Therapeutics Inc.
Abeona Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $33.
See today’s analyst top recommended stocks >>
The company has a one-year high of $22 and a one-year low of $6.26. Currently, Abeona Therapeutics has an average volume of 468.6K.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
