H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Abeona Therapeutics today and set a price target of $20.00.
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Ram Selvaraju’s rating is based on several positive indicators for Abeona Therapeutics. Despite a recent Complete Response Letter (CRL) from the FDA regarding their UX111 gene therapy, Selvaraju believes the issues raised are addressable and not related to the product’s quality. The FDA has acknowledged the robustness of the clinical data, suggesting that approval is still likely, which could enhance the company’s valuation.
Additionally, the commercial launch of ZEVASKYN in the U.S. is underway, with expectations of a steady patient uptake. Abeona is actively working to expand its network of qualified treatment centers, which should support increased treatment numbers and revenue growth. The company anticipates reaching profitability by early 2026, with the potential to achieve this milestone even sooner, depending on the success of the ZEVASKYN launch. These factors contribute to Selvaraju’s Buy rating and a 12-month price target of $20.