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
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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.

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