Cantor Fitzgerald Reaffirms Their Buy Rating on Abeona Therapeutics (ABEO)

By Austin Angelo

Cantor Fitzgerald analyst Elemer Piros reiterated a Buy rating on Abeona Therapeutics (ABEOResearch Report) today and set a price target of $29. The company’s shares opened today at $7.11, close to its 52-week low of $6.26.

Piros observed:

“: We are reiterating our OW rating and $29 12-month price target on Abeona following 1Q19 earnings. Abeona announced the CMC work for the Phase 3 VITAL study in EB-101 for the treatment of recessive dystrophic epidermolysis bullosa (RDEB) has been completed. The trial could initiate in mid-2019, following the completion of the last checkbox regarding an ongoing FDA review. While specific timeline guidance has not been provided, pre-screening has begun, which could support a more rapid enrollment. Additionally, the company expects to announce interim data from the Sanfilippo Phase 1/2 studies.”

According to, Piros has 0 stars on 0-5 star ranking scale with an average return of -2.3% and a 41.8% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Nightstar Therapeutics Limited, and Proteostasis Therapeutics Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Abeona Therapeutics with a $25 average price target, which is a 251.6% upside from current levels. In a report issued on May 1, H.C. Wainwright also reiterated a Buy rating on the stock with a $30 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.