Abeona Therapeutics (ABEO): Visibility Improves Multiple, Raising PT - Maxim

September 29, 2016 7:58 AM EDT
Get Alerts ABEO Hot Sheet
Price: $8.34 -4.14%

Rating Summary:
    3 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
Trade ABEO Now!
Join SI Premium – FREE

Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.

Maxim Group analyst, Jason McCarthy, reiterated his Buy rating on shares of Abeona Therapeutics (NASDAQ: ABEO) but raised his price target to $14 from $8 on reduced risk driving the multiple higher.

The analyst sees the "risk" in the Abeona story being reduced one patient and one data point at a time, resulting in a rising valuation. Over the next 12 months, multiple data points across several gene therapy programs should drive Abeona's valuation higher, as happened for AveXis, bluebird (NASDAQ: BLUE), Kite (NASDAQ: KITE), and Juno (NASDAQ: JUNO). The analyst reduced the risk in his model to 80%, from 90%, which increased the price target to $14, from $8. More data = lower risk = higher valuation.

For an analyst ratings summary and ratings history on Abeona Therapeutics click here. For more ratings news on Abeona Therapeutics click here.

Shares of Abeona Therapeutics closed at $5.74 yesterday.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst PT Change

Related Entities

Maxim Group

Add Your Comment