Yesterday, Abeona Therapeutics (ABEO) stock closed at $13, ~75% below its 52-week high of $22.75 on October 11, 2017. This month, Abeona stock has fallen 15% from $15.40 on August 31. Abeona’s 52-week low is $10.50, which it reached on February 15.
Of the ten analysts tracking Abeona Therapeutics, two recommend “strong buy,” and eight recommend “buy.” Their consensus 12-month target price of $28.98 implies a ~122.92% return over the next 12 months.
Financials in a nutshell
Abeona, a clinical-stage biopharmaceutical company, develops cell and gene therapies for rare genetic diseases. Some of the company’s leading products include ABO-102, an AAV[1.adeno-associated virus]-based gene therapy for Sanfilippo syndrome type A, ABO-201, a gene therapy for CLN3 disease, and ABO-301 for Fanconi anemia.
In H1 2018, Abeona Therapeutics reported cash, cash equivalents, and marketable securities of $120.0 million. In the second quarter, Abeona’s net revenue rose year-over-year to $819,000 from $217,000. The company reported a loss per share of $0.25 in Q2 2018, compared with $0.21 in Q2 2017.
This month, Abeona Therapeutics was authorized to proceed with the Phase 1/2 clinical trial of its gene therapy product, ABO-101, to evaluate its safety and efficacy in individuals with Sanfilippo syndrome type B. La Agencia Espanola de Medicamentos y Productos Sanitarios approved the company conducting a clinical trial for the drug in Spain, marking the second to be conducted in Europe. The clinical trial will go along with a previously initiated phase 1/2 trial on individuals with Sanfilippo syndrome type A. ABO-101 is another AAV-based gene therapy for treating Sanfilippo syndrome.