Analysts Set REGENXBIO Inc. (NASDAQ:RGNX) Target Price at $33.88

REGENXBIO Inc. (NASDAQ:RGNX) has earned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $32.78.

A number of research firms have recently commented on RGNX. Royal Bank of Canada reaffirmed an “outperform” rating and set a $30.00 price objective on shares of REGENXBIO in a report on Tuesday, January 21st. Raymond James assumed coverage on shares of REGENXBIO in a research note on Friday, February 7th. They set an “outperform” rating and a $27.00 price target for the company. Leerink Partners set a $24.00 price objective on REGENXBIO in a research note on Tuesday, March 18th. The Goldman Sachs Group downgraded REGENXBIO from a “buy” rating to a “neutral” rating and cut their target price for the stock from $38.00 to $14.00 in a research report on Tuesday, February 11th. Finally, Chardan Capital reiterated a “buy” rating and issued a $52.00 price target on shares of REGENXBIO in a research report on Thursday, March 20th.

Hedge Funds Weigh In On REGENXBIO

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. acquired a new position in REGENXBIO during the 3rd quarter worth about $643,000. Intech Investment Management LLC bought a new position in shares of REGENXBIO in the third quarter worth about $161,000. Charles Schwab Investment Management Inc. lifted its position in shares of REGENXBIO by 9.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 417,739 shares of the biotechnology company’s stock worth $4,382,000 after purchasing an additional 37,055 shares in the last quarter. FMR LLC grew its stake in shares of REGENXBIO by 166.8% during the third quarter. FMR LLC now owns 2,649 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 1,656 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of REGENXBIO by 602.9% in the third quarter. BNP Paribas Financial Markets now owns 20,441 shares of the biotechnology company’s stock valued at $214,000 after purchasing an additional 17,533 shares in the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

REGENXBIO Stock Down 1.0 %

Shares of RGNX opened at $7.83 on Friday. The stock’s 50-day moving average price is $7.40 and its 200 day moving average price is $8.79. REGENXBIO has a 12-month low of $5.62 and a 12-month high of $21.57. The firm has a market capitalization of $392.17 million, a price-to-earnings ratio of -1.56 and a beta of 1.35.

REGENXBIO (NASDAQ:RGNX) last released its quarterly earnings data on Thursday, March 13th. The biotechnology company reported ($1.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.27) by $0.26. The business had revenue of $21.21 million for the quarter, compared to analysts’ expectations of $23.70 million. REGENXBIO had a negative return on equity of 70.65% and a negative net margin of 283.19%. Equities research analysts expect that REGENXBIO will post -4.84 EPS for the current year.

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.