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

Regenxbio (NASDAQ:RGNX)‘s stock had its “buy” rating reissued by investment analysts at Chardan Capital in a research report issued on Wednesday, June 5th, MarketBeat Ratings reports. They currently have a $145.00 price objective on the biotechnology company’s stock, up from their prior price objective of $127.50. Chardan Capital’s target price would suggest a potential upside of 182.27% from the stock’s previous close.

RGNX has been the subject of several other research reports. ValuEngine raised Regenxbio from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 5th. BidaskClub raised Regenxbio from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. Zacks Investment Research raised Regenxbio from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Tuesday, February 5th. Raymond James raised Regenxbio from an “outperform” rating to a “strong-buy” rating and set a $94.00 price objective for the company in a research note on Tuesday, February 5th. Finally, Evercore ISI raised Regenxbio from an “in-line” rating to an “outperform” rating and set a $51.25 price objective for the company in a research note on Monday, February 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. Regenxbio has a consensus rating of “Buy” and a consensus target price of $81.53.

RGNX stock traded up $1.64 during midday trading on Wednesday, hitting $51.37. 555,762 shares of the company’s stock were exchanged, compared to its average volume of 559,332. The company’s 50-day simple moving average is $47.14. The company has a debt-to-equity ratio of 0.01, a current ratio of 14.21 and a quick ratio of 14.21. The stock has a market capitalization of $1.78 billion, a PE ratio of 21.58 and a beta of 0.59. Regenxbio has a 1-year low of $38.56 and a 1-year high of $85.10.

Regenxbio (NASDAQ:RGNX) last posted its earnings results on Tuesday, May 7th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.04). The business had revenue of $0.88 million for the quarter. Regenxbio had a negative return on equity of 9.90% and a negative net margin of 41.99%. Equities research analysts forecast that Regenxbio will post -2.46 earnings per share for the current fiscal year.

In related news, SVP Patrick J. Christmas sold 5,000 shares of Regenxbio stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $53.23, for a total value of $266,150.00. Following the completion of the transaction, the senior vice president now directly owns 6,547 shares in the company, valued at $348,496.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Olivier Danos sold 2,000 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $52.66, for a total transaction of $105,320.00. Following the completion of the transaction, the insider now directly owns 8,500 shares in the company, valued at approximately $447,610. The disclosure for this sale can be found here. In the last quarter, insiders have sold 75,000 shares of company stock worth $3,725,970. 13.80% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in the stock. Berman Capital Advisors LLC acquired a new position in Regenxbio in the fourth quarter worth approximately $33,000. NumerixS Investment Technologies Inc acquired a new position in Regenxbio during the 4th quarter worth $50,000. Mckinley Capital Management LLC Delaware lifted its position in Regenxbio by 51.8% during the 1st quarter. Mckinley Capital Management LLC Delaware now owns 888 shares of the biotechnology company’s stock worth $51,000 after acquiring an additional 303 shares during the last quarter. Financial Gravity Wealth Inc. acquired a new position in Regenxbio during the 1st quarter worth $55,000. Finally, LS Investment Advisors LLC increased its holdings in shares of Regenxbio by 63.1% during the 4th quarter. LS Investment Advisors LLC now owns 2,260 shares of the biotechnology company’s stock worth $95,000 after purchasing an additional 874 shares during the period. 81.48% of the stock is currently owned by hedge funds and other institutional investors.

Regenxbio Company Profile

REGENXBIO Inc, a clinical-stage biotechnology company, provides gene therapy product candidates to deliver genes to cells to address genetic defects or to enable cells in the body to produce therapeutic proteins or antibodies that are intended to impact disease. Its gene therapy product candidates are based on NAV Technology Platform, a proprietary adeno-associated virus (AAV) gene delivery platform.

Further Reading: Beta

Analyst Recommendations for Regenxbio (NASDAQ:RGNX)

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