Brokers Offer Predictions for REGENXBIO FY2024 Earnings

REGENXBIO Inc. (NASDAQ:RGNX) – Analysts at Leerink Partnrs raised their FY2024 earnings per share estimates for shares of REGENXBIO in a report issued on Wednesday, January 22nd. Leerink Partnrs analyst M. Foroohar now expects that the biotechnology company will post earnings of ($4.86) per share for the year, up from their prior forecast of ($4.95). The consensus estimate for REGENXBIO’s current full-year earnings is ($4.87) per share. Leerink Partnrs also issued estimates for REGENXBIO’s Q4 2024 earnings at ($1.27) EPS, FY2025 earnings at $0.03 EPS, FY2026 earnings at ($0.52) EPS, FY2027 earnings at ($1.74) EPS and FY2028 earnings at ($0.70) EPS.

Several other equities analysts have also commented on RGNX. StockNews.com lowered shares of REGENXBIO from a “hold” rating to a “sell” rating in a research report on Thursday. Chardan Capital reiterated a “buy” rating and issued a $52.00 price target on shares of REGENXBIO in a research report on Wednesday, November 20th. HC Wainwright reissued a “buy” rating and set a $36.00 price objective on shares of REGENXBIO in a research note on Wednesday, January 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of REGENXBIO in a research note on Tuesday. Finally, Raymond James reissued an “outperform” rating and set a $18.00 target price on shares of REGENXBIO in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $34.82.

REGENXBIO Trading Up 1.3 %

NASDAQ RGNX opened at $7.95 on Friday. The stock has a 50 day moving average price of $8.52 and a 200-day moving average price of $10.42. REGENXBIO has a one year low of $6.56 and a one year high of $28.80.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Redmile Group LLC raised its position in REGENXBIO by 7.1% during the 3rd quarter. Redmile Group LLC now owns 4,892,902 shares of the biotechnology company’s stock valued at $51,327,000 after purchasing an additional 323,100 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of REGENXBIO by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,088,651 shares of the biotechnology company’s stock valued at $11,422,000 after purchasing an additional 44,037 shares in the last quarter. Assenagon Asset Management S.A. lifted 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 during the period. Charles Schwab Investment Management Inc. boosted its stake 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 valued at $4,382,000 after purchasing an additional 37,055 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in REGENXBIO by 84.8% during the second quarter. Millennium Management LLC now owns 306,487 shares of the biotechnology company’s stock valued at $3,586,000 after buying an additional 140,666 shares during the period. 88.08% of the stock is currently owned by institutional investors.

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.