REGENXBIO’s (RGNX) “Buy” Rating Reaffirmed at Chardan Capital

REGENXBIO (NASDAQ:RGNX)‘s stock had its “buy” rating reaffirmed by research analysts at Chardan Capital in a report released on Thursday,Benzinga reports. They presently have a $52.00 target price on the biotechnology company’s stock.

RGNX has been the subject of several other reports. HC Wainwright lowered their target price on REGENXBIO from $36.00 to $34.00 and set a “buy” rating for the company in a report on Monday. Morgan Stanley upped their price objective on shares of REGENXBIO from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, March 14th. Royal Bank of Canada restated an “outperform” rating and issued a $30.00 price target on shares of REGENXBIO in a report on Tuesday, January 21st. Raymond James started coverage on shares of REGENXBIO in a research note on Friday, February 7th. They set an “outperform” rating and a $27.00 price objective on the stock. Finally, The Goldman Sachs Group downgraded shares of REGENXBIO from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $38.00 to $14.00 in a research note on Tuesday, February 11th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $33.88.

REGENXBIO Trading Up 9.0 %

Shares of RGNX opened at $8.50 on Thursday. The firm has a market capitalization of $421.13 million, a P/E ratio of -1.69 and a beta of 1.35. REGENXBIO has a 12-month low of $5.62 and a 12-month high of $23.14. The firm has a fifty day moving average price of $7.28 and a 200-day moving average price of $8.93.

REGENXBIO (NASDAQ:RGNX) last posted its quarterly earnings results on Thursday, March 13th. The biotechnology company reported ($1.01) earnings per share for the quarter, beating the consensus estimate of ($1.27) by $0.26. The firm had revenue of $21.21 million during the quarter, compared to the consensus estimate of $23.70 million. REGENXBIO had a negative net margin of 283.19% and a negative return on equity of 70.65%. Analysts predict that REGENXBIO will post -4.84 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Barclays PLC grew its holdings in REGENXBIO by 141.3% in the third quarter. Barclays PLC now owns 116,024 shares of the biotechnology company’s stock worth $1,217,000 after purchasing an additional 67,948 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of REGENXBIO by 53.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 856,572 shares of the biotechnology company’s stock worth $6,621,000 after purchasing an additional 296,700 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of REGENXBIO by 602.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 20,441 shares of the biotechnology company’s stock worth $214,000 after purchasing an additional 17,533 shares in the last quarter. FMR LLC grew 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 last quarter. Finally, Stifel Financial Corp increased its position in REGENXBIO by 13.3% during the 3rd quarter. Stifel Financial Corp now owns 149,280 shares of the biotechnology company’s stock valued at $1,566,000 after buying an additional 17,563 shares in the last quarter. Institutional investors own 88.08% of the company’s stock.

About REGENXBIO

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.