Cantor Fitzgerald analyst Elemer Piros maintained a Buy rating on Abeona Therapeutics (ABEO) today and set a price target of $36. The company’s shares opened today at $7.39, close to its 52-week low of $6.94.
“: This morning Abeona Therapeutics hosted an New York. Management and KOLs provided additional color on Abeona’s internal programs, and future pipeline directions. In the new year, we believe a majority of investor focus will be on the Phase 3 EB-101 trial initiation, and clinical and commercialization strategy updates related to the MPS III programs.”
According to TipRanks.com, Piros ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -9.7% and a 36.2% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Proteostasis Therapeutics Inc, and Strongbridge Biopharma Plc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Abeona Therapeutics with a $27.25 average price target, implying a 268.7% upside from current levels. In a report issued on November 26, Mizuho Securities also maintained a Buy rating on the stock with a $17 price target.
Based on Abeona Therapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $16.42 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.