Cantor Fitzgerald Believes Abeona Therapeutics (NASDAQ: ABEO) Still Has Room to Grow

By Ryan Adsit

Cantor Fitzgerald analyst Elemer Piros reiterated a Buy rating on Abeona Therapeutics (NASDAQ: ABEO) yesterday and set a price target of $36. The company’s shares closed yesterday at $20.50, close to its 52-week high of $22.75.

According to TipRanks.com, Piros is a 1-star analyst with an average return of -1.2% and a 52.7% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Strongbridge Biopharma Plc, and Global Blood Therapeutics.

Currently, the analyst consensus on Abeona Therapeutics is Strong Buy and the average price target is $31, representing a 51.2% upside.

In a report issued on May 8, Maxim Group also maintained a Buy rating on the stock with a $35 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 $8.46 million. In comparison, last year the company had a GAAP net loss of $5.25 million.

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Abeona Therapeutics, Inc. is a clinical stage biopharmaceutical company, which engages in the development of gene therapy and plasma-based products for severe and life threatening rare diseases. It includes gene therapies for sanfilippo syndrome, recessive dystrophic epidermolysis bullosa, infantile batten disease, fanconi anemia disorder, and for rare blood diseases. The company was founded in 1974 and is headquartered in Dallas, TX.