H.C. Wainwright Sticks to Their Buy Rating for Abeona Therapeutics (ABEO)

In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Abeona Therapeutics (ABEOResearch Report), with a price target of $11.00. The company’s shares closed last Wednesday at $3.42.

According to TipRanks.com, Selvaraju is a top 100 analyst with an average return of 32.8% and a 56.9% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Taro Pharmaceutical Industries, Turning Point Therapeutics, and Black Diamond Therapeutics.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Abeona Therapeutics with a $7.33 average price target.

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Based on Abeona Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $48.16 million. In comparison, last year the company had a GAAP net loss of $18.56 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 New York, NY.