H.C. Wainwright Thinks Abeona Therapeutics’ Stock is Going to Recover


In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Abeona Therapeutics (ABEO), with a price target of $30. The company’s shares closed yesterday at $7.94, close to its 52-week low of $6.26.

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 48M shares outstanding as of end-2019. We utilize an 85% probability of success for EB-101.”

According to TipRanks.com, Selvaraju has 0 stars on 0-5 star ranking scale with an average return of -4.1% and a 36.6% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.

Abeona Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $25.33, representing a 219.0% upside. In a report released yesterday, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $29 price target.

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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 463.6K.

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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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