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Why Abeona Therapeutics Is Trading Higher Today

Tanzeel Akhtar
·1 min read

Abeona Therapeutics (NASDAQ: ABEO) shares are trading higher on Friday after B. Riley FBR initiated coverage on the stock with a Buy rating and announced a price target of $5 per share.

Abeona Therapeutics is a clinical-stage biopharmaceutical company. The firm is focused on developing gene therapies and plasma-based products for life-threatening rare genetic diseases. The gene therapy involves the use of DNA as a potential therapy to treat a disease.

The company's initial programs are focused on lysosomal storage diseases such as Mucopolysaccharidosis (MPS) IIIA and IIIB. It is also developing ABO-202 and ABO-201, which are AAV-based gene therapies for the CLN1 and CLN3 forms of Batten Disease, respectively, ABO-401 for the treatment of cystic fibrosis, and ABO-50X for the treatment of retinal diseases.

Abeona Therapeutics shares were up 14.80% at $2.25 at the time of publication on Friday. The stock has a 52-week high of $5.19 and a 52-week low of $1.35.

Latest Ratings for ABEO

Date

Firm

Action

From

To

Sep 2020

B. Riley FBR

Initiates Coverage On

Buy

May 2020

RBC Capital

Maintains

Outperform

Mar 2020

RBC Capital

Maintains

Outperform

View More Analyst Ratings for ABEO
View the Latest Analyst Ratings

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