Mizuho Securities Thinks Abeona Therapeutics’ Stock is Going to Recover

In a report issued on June 7, Difei Yang from Mizuho Securities reiterated a Buy rating on Abeona Therapeutics (ABEOResearch Report), with a price target of $17. The company’s shares closed yesterday at $5.26, close to its 52-week low of $5.02.

According to TipRanks.com, Yang is a 4-star analyst with an average return of 8.0% and a 39.7% success rate. Yang covers the Healthcare sector, focusing on stocks such as Xeris Pharmaceuticals Inc, Alder Biopharmaceuticals, and Audentes Therapeutics.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Abeona Therapeutics with a $23.60 average price target, a 348.7% upside from current levels. In a report issued on May 28, H.C. Wainwright also reiterated a Buy rating on the stock with a $23 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 $18.56 million. In comparison, last year the company had a GAAP net loss of $8.46 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.