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H.C. Wainwright Keeps a Buy Rating on Abeona Therapeutics (ABEO)


In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Abeona Therapeutics (NASDAQ: ABEO), with a price target of $30. The company’s shares closed yesterday at $14.50.

Selvaraju noted:

“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 50M shares outstanding as of end-2Q 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 1.7% and a 45.0% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Abeona Therapeutics with a $31.75 average 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 $8.28 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.