Leerink Partnrs Forecasts Increased Earnings for REGENXBIO

REGENXBIO Inc. (NASDAQ:RGNX) – Investment analysts at Leerink Partnrs increased their FY2024 earnings estimates for shares of REGENXBIO in a research report issued to clients and investors on Wednesday, January 22nd. Leerink Partnrs analyst M. Foroohar now expects that the biotechnology company will post earnings of ($4.86) per share for the year, up from their previous estimate 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.

Several other analysts have also commented on RGNX. Raymond James reaffirmed an “outperform” rating and set a $18.00 price target on shares of REGENXBIO in a research report on Thursday, October 10th. Royal Bank of Canada restated an “outperform” rating and issued a $30.00 target price on shares of REGENXBIO in a research report on Tuesday, January 21st. HC Wainwright reaffirmed a “buy” rating and issued a $36.00 price target on shares of REGENXBIO in a research note on Wednesday, January 15th. Chardan Capital reissued a “buy” rating and set a $52.00 price objective on shares of REGENXBIO in a research report on Wednesday, November 20th. Finally, StockNews.com cut 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 issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.82.

REGENXBIO Price Performance

Shares of RGNX stock opened at $7.88 on Friday. The company has a market capitalization of $390.41 million, a PE ratio of -1.57 and a beta of 1.28. The firm’s 50-day moving average is $8.42 and its two-hundred day moving average is $10.38. REGENXBIO has a 12 month low of $6.56 and a 12 month high of $28.80.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC increased its stake in REGENXBIO by 166.8% during the 3rd quarter. FMR LLC now owns 2,649 shares of the biotechnology company’s stock worth $28,000 after buying an additional 1,656 shares during the period. nVerses Capital LLC increased its position in shares of REGENXBIO by 183.3% during the third quarter. nVerses Capital LLC now owns 3,400 shares of the biotechnology company’s stock worth $36,000 after acquiring an additional 2,200 shares during the period. GAMMA Investing LLC raised its stake in shares of REGENXBIO by 273.1% in the fourth quarter. GAMMA Investing LLC now owns 3,429 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 2,510 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in REGENXBIO by 64.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 9,506 shares of the biotechnology company’s stock valued at $100,000 after purchasing an additional 3,720 shares during the period. Finally, Erste Asset Management GmbH acquired a new position in REGENXBIO during the 3rd quarter worth $140,000. 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.