Analyst Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Abeona Therapeutics (ABEO – Research Report) and keeping the price target at $20.00.
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Ram Selvaraju has given his Buy rating due to a combination of factors that highlight Abeona Therapeutics’ promising outlook. The company has successfully launched ZEVASKYN, a gene therapy for epidermolysis bullosa, with the first treatment centers already operational. These centers are expected to treat a significant number of patients, potentially reaching 10-12 patients per month across the U.S., which could drive substantial revenue growth. Abeona’s revenue projections remain strong, with expectations of achieving cash flow-positive status as revenues increase.
Additionally, Abeona’s strategic financial decisions, such as the sale of its Rare Pediatric Disease Priority Review Voucher for $155 million, provide the company with a robust cash position. This sale ensures that Abeona has sufficient funds to cover operating expenses for over two years, even without accounting for ZEVASKYN sales. The combination of a strong product launch, promising revenue forecasts, and a solid financial foundation underpins Selvaraju’s Buy rating for Abeona Therapeutics.
According to TipRanks, Selvaraju is a 4-star analyst with an average return of 7.7% and a 37.70% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Axsome Therapeutics, Niagen Bioscience, and Emergent Biosolutions.
In another report released on May 16, Stifel Nicolaus also maintained a Buy rating on the stock with a $20.00 price target.
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