Analyst Ram Selvaraju of H.C. Wainwright reiterated a Buy rating on Abeona Therapeutics, retaining the price target of $20.00.
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Ram Selvaraju has given his Buy rating due to a combination of factors that highlight Abeona Therapeutics’ promising market position and growth potential. The recent treatment of the first commercial patient with ZEVASKYN marks a significant milestone, indicating the product’s readiness for broader market uptake. This gene therapy, designed for patients with recessive dystrophic epidermolysis bullosa (RDEB), has generated considerable interest, with numerous patients identified for potential treatment, suggesting a robust demand pipeline.
Furthermore, the reimbursement landscape appears favorable, with positive coverage established by major commercial insurers, covering a substantial portion of RDEB patients. The establishment of a permanent HCPCS J-code by CMS further supports the product’s accessibility. Abeona’s strategic plans to expand its Qualified Treatment Centers (QTCs) and increase treatment capacity align with expectations of treating a growing number of patients, thereby driving revenue growth. These factors collectively support the reiterated Buy rating and the 12-month price target of $20.