REGENXBIO Inc. (NASDAQ:RGNX) Receives $33.88 Average Price Target from Brokerages

REGENXBIO Inc. (NASDAQ:RGNX) has been assigned an average rating of “Moderate Buy” from the seven ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $33.88.

A number of equities research analysts recently commented on the stock. Chardan Capital reiterated a “buy” rating and set a $52.00 price target on shares of REGENXBIO in a report on Thursday, March 20th. Raymond James initiated coverage on shares of REGENXBIO in a research note on Friday, February 7th. They set an “outperform” rating and a $27.00 price objective for the company. The Goldman Sachs Group lowered shares of REGENXBIO from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $38.00 to $14.00 in a report on Tuesday, February 11th. Morgan Stanley boosted their price target on REGENXBIO from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, March 14th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $30.00 price target on shares of REGENXBIO in a research report on Tuesday, January 21st.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Alpine Global Management LLC bought a new position in shares of REGENXBIO in the 4th quarter worth about $175,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in REGENXBIO by 9.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,183 shares of the biotechnology company’s stock worth $558,000 after purchasing an additional 6,105 shares during the period. Two Sigma Advisers LP increased its stake in shares of REGENXBIO by 164.7% during the fourth quarter. Two Sigma Advisers LP now owns 180,000 shares of the biotechnology company’s stock valued at $1,391,000 after purchasing an additional 112,000 shares in the last quarter. Two Sigma Investments LP lifted its holdings in shares of REGENXBIO by 209.2% during the fourth quarter. Two Sigma Investments LP now owns 389,428 shares of the biotechnology company’s stock valued at $3,010,000 after purchasing an additional 263,495 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its position in shares of REGENXBIO by 22.4% in the 4th quarter. Rafferty Asset Management LLC now owns 93,821 shares of the biotechnology company’s stock worth $725,000 after purchasing an additional 17,180 shares in the last quarter. Hedge funds and other institutional investors own 88.08% of the company’s stock.

REGENXBIO Trading Up 5.6 %

NASDAQ RGNX opened at $8.70 on Friday. The firm has a market cap of $435.75 million, a PE ratio of -1.73 and a beta of 1.35. REGENXBIO has a 1-year low of $5.62 and a 1-year high of $22.42. The stock has a 50-day moving average of $7.34 and a 200-day moving average of $8.85.

REGENXBIO (NASDAQ:RGNX) last announced its quarterly earnings results on Thursday, March 13th. The biotechnology company reported ($1.01) EPS for the quarter, topping 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%. As a group, equities research analysts forecast that REGENXBIO will post -4.84 earnings per share for the current fiscal year.

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.