Chardan Capital Reaffirms Buy Rating for REGENXBIO (NASDAQ:RGNX)

Chardan Capital reaffirmed their buy rating on shares of REGENXBIO (NASDAQ:RGNX) in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a $52.00 price objective on the biotechnology company’s stock.

A number of other research firms have also recently issued reports on RGNX. Morgan Stanley lifted their price objective on REGENXBIO from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. Raymond James assumed coverage on REGENXBIO in a research report on Friday, February 7th. They set an “outperform” rating and a $27.00 price objective for the company. StockNews.com raised REGENXBIO from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. The Goldman Sachs Group cut REGENXBIO from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $38.00 to $14.00 in a research report on Tuesday, February 11th. Finally, HC Wainwright reduced their price target on REGENXBIO from $36.00 to $34.00 and set a “buy” rating for the company in a research report on Monday, March 17th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $33.88.

REGENXBIO Stock Down 1.4 %

Shares of REGENXBIO stock opened at $8.24 on Thursday. The stock has a market cap of $408.25 million, a PE ratio of -1.64 and a beta of 1.35. The business has a fifty day simple moving average of $7.30 and a 200-day simple moving average of $8.88. REGENXBIO has a 12 month low of $5.62 and a 12 month high of $22.42.

REGENXBIO (NASDAQ:RGNX) last issued its earnings results on Thursday, March 13th. The biotechnology company reported ($1.01) EPS for the quarter, topping the consensus estimate of ($1.27) by $0.26. The business had revenue of $21.21 million during 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%. Analysts expect that REGENXBIO will post -4.84 EPS for the current fiscal year.

Hedge Funds Weigh In On REGENXBIO

A number of institutional investors have recently made changes to their positions in RGNX. GAMMA Investing LLC increased 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 worth $27,000 after purchasing an additional 2,510 shares during the period. FMR LLC increased its stake in 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 acquiring an additional 1,656 shares during the period. KLP Kapitalforvaltning AS bought a new position in REGENXBIO during the fourth quarter valued at about $54,000. Dynamic Technology Lab Private Ltd bought a new position in REGENXBIO during the fourth quarter valued at about $79,000. Finally, Laurion Capital Management LP bought a new position in REGENXBIO during the fourth quarter valued at about $79,000. 88.08% of the stock is currently owned by institutional investors.

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.