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 $15. The company’s shares closed on Friday at $2.29, close to its 52-week low of $2.25.

Selvaraju observed:

“Valuation methodology, risks and uncertainties. We ascribe a total risk-adjusted net present value (rNPV) of $1.2B to Abeona’s platforms, which yields a price per share of $15.00 based on 81M shares outstanding as of mid-2020. This assumes exercise of 8.7M stock options and warrants, plus possible future issuance of 15M shares later this year and a further 8M shares in 2020. We utilize an 85% probability of approval for EB-101, but do not account for any potential contribution from application of the AIM platform to ocular, lung (e.g., cystic fibrosis) or neurological disorders beyond Sanfilippo Syndrome.”

According to TipRanks.com, Selvaraju has currently no stars on a ranking scale of 0-5 stars, with an average return of -10.6% and a 26.8% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Taro Pharmaceutical Industries Ltd., Biospecifics Technologies Corp, and Stealth Biotherapeutics Corp.

Currently, the analyst consensus on Abeona Therapeutics is a Moderate Buy with an average price target of $16.40.

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The company has a one-year high of $15.65 and a one-year low of $2.25. Currently, Abeona Therapeutics has an average volume of 688.6K.

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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 New York, NY.

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