Leerink Partnrs Forecasts Higher Earnings for REGENXBIO

REGENXBIO Inc. (NASDAQ:RGNX) – Equities researchers at Leerink Partnrs increased their FY2024 earnings estimates for REGENXBIO in a research report issued to clients and investors on Wednesday, January 22nd. Leerink Partnrs analyst M. Foroohar now forecasts that the biotechnology company will post earnings of ($4.86) per share for the year, up from their prior forecast of ($4.95). The consensus estimate for REGENXBIO’s current full-year earnings is ($4.87) per share. Leerink Partnrs also issued estimates for REGENXBIO’s Q4 2024 earnings at ($1.27) EPS, FY2025 earnings at $0.03 EPS, FY2026 earnings at ($0.52) EPS, FY2027 earnings at ($1.74) EPS and FY2028 earnings at ($0.70) EPS.

Other equities analysts have also recently issued reports about the company. HC Wainwright reissued a “buy” rating and set a $36.00 price target on shares of REGENXBIO in a report on Wednesday, January 15th. Chardan Capital reissued a “buy” rating and issued a $52.00 target price on shares of REGENXBIO in a report on Wednesday, November 20th. Morgan Stanley restated an “overweight” rating and set a $22.00 price target on shares of REGENXBIO in a research note on Friday, November 15th. Raymond James reiterated an “outperform” rating and issued a $18.00 price objective on shares of REGENXBIO in a research note on Thursday, October 10th. Finally, StockNews.com lowered shares of REGENXBIO from a “hold” rating to a “sell” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, REGENXBIO currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.82.

REGENXBIO Stock Performance

Shares of REGENXBIO stock opened at $7.95 on Friday. REGENXBIO has a twelve month low of $6.56 and a twelve month high of $28.80. The company’s 50 day moving average is $8.52 and its 200 day moving average is $10.42.

Institutional Investors Weigh In On REGENXBIO

A number of institutional investors have recently bought and sold shares of the business. American Century Companies Inc. boosted its stake in shares of REGENXBIO by 16.8% in the second quarter. American Century Companies Inc. now owns 74,872 shares of the biotechnology company’s stock worth $876,000 after acquiring an additional 10,767 shares during the period. Amalgamated Bank boosted its stake in REGENXBIO by 9.9% in the 2nd quarter. Amalgamated Bank now owns 13,613 shares of the biotechnology company’s stock worth $159,000 after purchasing an additional 1,227 shares during the period. Hsbc Holdings PLC boosted its stake in REGENXBIO by 37.1% in the 2nd quarter. Hsbc Holdings PLC now owns 19,916 shares of the biotechnology company’s stock worth $234,000 after purchasing an additional 5,389 shares during the period. Public Sector Pension Investment Board raised its position in shares of REGENXBIO by 18.7% during the second quarter. Public Sector Pension Investment Board now owns 99,676 shares of the biotechnology company’s stock valued at $1,166,000 after buying an additional 15,683 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of REGENXBIO during the second quarter valued at approximately $457,000. Hedge funds and other institutional investors own 88.08% of the company’s stock.

REGENXBIO Company Profile

REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapies that deliver functional genes to cells with genetic defects in the United States. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus gene delivery platform. The company’s products in pipeline includes ABBV-RGX-314 for the treatment of wet age-related macular degeneration, diabetic retinopathy, and other chronic retinal diseases; and RGX-202, which is in Phase I/II clinical trial for the treatment of Duchenne muscular dystrophy.