Mizuho Securities analyst Difei Yang maintained a Buy rating on Abeona Therapeutics (ABEO) today and set a price target of $17. The company’s shares closed yesterday at $7.94, close to its 52-week low of $6.26.
Yang commented:
“We do not see earnings as the best measure of performance for early-stage biotechs. Rather, progress in clinical development is the main driver of value. Abeona ended 2018 with cash, cash equivalents and marketable securities amounting to $85.0 mil.”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 19.1% and a 50.7% success rate. Yang covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Xeris Pharmaceuticals Inc, and Alder Biopharmaceuticals.
Abeona Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $29.50, implying a 271.5% upside from current levels. 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.
