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Abeona Therapeutics Inc. (NASDAQ:ABEO), a biopharmaceutical company focused on developing gene and cell therapies, has seen its stock price surge to a 52-week high, touching $6.83. According to InvestingPro data, the company currently trades above its Fair Value, with analysts setting an impressive high target of $25. This milestone underscores a period of significant growth for the company, with a market capitalization of $319 million. While ABEO maintains a strong liquid position with assets exceeding short-term obligations, InvestingPro analysis indicates the company is quickly burning through cash. Investors anticipating the company’s next earnings report on May 8th can access comprehensive analysis through InvestingPro’s detailed Research Report, which provides deep insights into ABEO’s financial health and growth prospects among 1,400+ top US stocks.
In other recent news, Abeona Therapeutics reported a significant earnings per share (EPS) beat for the fourth quarter of 2024, recording an EPS of $0.50 against a projected loss of $0.35. However, the company’s revenue fell short of expectations, coming in at zero compared to the anticipated $100,000. Abeona’s cash reserves improved markedly, reaching $98.1 million by the end of 2024, up from $52.6 million the previous year. In regulatory developments, the FDA approved Abeona’s Zevaskyn for treating wounds in patients with recessive dystrophic epidermolysis bullosa (RDEB), which Stifel analysts noted as a pivotal moment for the company. Following this approval, Stifel raised its price target for Abeona from $14.00 to $21.00, maintaining a Buy rating on the stock. Analysts at Stifel also highlighted the potential of Abeona’s lead product candidate, pz-cel, with worldwide sales estimated to peak at approximately $400 million. The company is preparing for a potential FDA decision on its lead product, Pradimigene zamytereso, expected in April 2025. Abeona is also increasing its manufacturing capacity to meet potential demand for its RDEB treatment.
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