Why This Abeona Therapeutics Analyst Is Turning Bullish After Q3 Print

Abeona Therapeutics Inc’s ABEO stock does not reflect the company’s in-house manufacturing capabilities and pipeline, according to Cantor Fitzgerald.

The Abeona Therapeutics Analyst: Kristen Kluska upgraded Abeona Therapeutics from Neutral to Overweight while maintaining the price target at $4.

The Abeona Therapeutics Thesis: The company’s pipeline has three potential pivotal studies, Kristen Kluska said in an upgrade note.

Abeona Therapeutics expects enrollment in the EB-101 study for RDEB to be completed in the first half of 2021, “with top-line data potentially available in late-2021,” the analyst said. 

The company has achieved target enrollment of 18 patients for MPS IIIA but will continue enrollment through the first quarter, she said. For MPS IIIB, Abeona Therapeutics expects to complete target enrollment in the first quarter.

“While we think it is difficult to put a price on in-house manufacturing capabilities, we are now including a $50M pipeline placeholder for this facility,” Kluska said. 

Abeona Therapeutics is undergoing a strategic review and is “more likely to pursue a partnership or sale at this time,” the analyst said. 

ABEO Price Action: Shares of Abeona Therapeutics had risen by 12.85% to $1.30 at the time of publication Wednesday.