Price Action Report: Will Abeona Therapeutics Inc Run Out of Steam Soon?

Price Action Report: Will Abeona Therapeutics Inc Run Out of Steam Soon?

The stock of Abeona Therapeutics Inc (NASDAQ:ABEO) hit a new 52-week high and has $14.63 target or 120.00% above today’s $6.65 share price. The 5 months bullish chart indicates low risk for the $218.74 million company. The 1-year high was reported on Oct, 7 by Barchart.com. If the $14.63 price target is reached, the company will be worth $262.49M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 510,030 shares traded hands or 69.19% up from the average. Abeona Therapeutics Inc (NASDAQ:ABEO) has risen 156.25% since March 4, 2016 and is uptrending. It has outperformed by 148.21% the S&P500.

Analysts await Abeona Therapeutics Inc (NASDAQ:ABEO) to report earnings on November, 15. They expect $-0.13 earnings per share, up 31.58% or $0.06 from last year’s $-0.19 per share. After $-0.20 actual earnings per share reported by Abeona Therapeutics Inc for the previous quarter, Wall Street now forecasts -35.00% EPS growth.

Abeona Therapeutics Inc (NASDAQ:ABEO) Ratings Coverage

Out of 3 analysts covering Abeona Therapeutics (NASDAQ:ABEO), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $17 is the highest target while $6.0 is the lowest. The $15.50 average target is 133.08% above today’s ($6.65) stock price. Abeona Therapeutics has been the topic of 4 analyst reports since December 16, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Thursday, September 8 by Cantor Fitzgerald. The rating was reinitiated by Rodman & Renshaw on Wednesday, April 20 with “Buy”. Maxim Group maintained the stock with “Buy” rating in Thursday, September 29 report. The stock of Abeona Therapeutics Inc (NASDAQ:ABEO) has “Buy” rating given on Wednesday, December 16 by Maxim Group.

According to Zacks Investment Research, “Abeona Therapeutics, Inc. is engaged in developing and delivering gene therapy and plasma-based products for rare diseases. Abeona Therapeutics Inc., formerly known as PlasmaTech Biopharmaceuticals, Inc., is based in Dallas, United States.”

Another recent and important Abeona Therapeutics Inc (NASDAQ:ABEO) news was published by Benzinga.com which published an article titled: “263% Upside Seen In Abeona Therapeutics” on September 21, 2016.

ABEO Company Profile

Abeona Therapeutics, Inc. (Abeona), formerly PlasmaTech Biopharmaceuticals, Inc., incorporated on June 22, 1989, is focused on developing and delivering gene therapy and plasma products for rare diseases. The Company’s lead programs are ABO-101 (AA9 NAGLU) and ABO-102 (scAAV9 SGHG), adeno-associated virus (AAV) gene therapies for Sanfilippo syndrome (Mucopolysaccharidosis (MPS) IIIA and IIIB) in collaboration with patient advocate groups, researchers and clinicians. The Firm is also developing ABO-201 (scAAV9 CLN3) gene therapy for juvenile Batten disease (JBD), and ABO-301 (AAV LK19 FANCC) for Fanconi anemia (FA) disorder using a clustered, regularly interspaced short palindromic repeats (CRISPR)/Cas9 gene editing approach to gene therapy program for rare blood diseases. In addition, it is developing rare plasma protein therapies, including PTB-101 SDF Alpha (alpha-1 protease inhibitor) for inherited chronic obstructive pulmonary disease (COPD) using its salt diafiltration (SDF) ethanol-free process. The Company’s product pipeline also consists of MuGard and ProdiGard.

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