Brokerages Set Regenxbio Inc (NASDAQ:RGNX) Target Price at $76.75

Regenxbio Inc (NASDAQ:RGNX) has earned an average recommendation of “Buy” from the nine ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $76.75.

A number of brokerages have recently commented on RGNX. ValuEngine upgraded shares of Regenxbio from a “buy” rating to a “strong-buy” rating in a report on Friday, February 28th. Chardan Capital reiterated a “buy” rating and set a $150.00 price target on shares of Regenxbio in a report on Wednesday, January 29th. Zacks Investment Research upgraded shares of Regenxbio from a “sell” rating to a “hold” rating in a report on Thursday, March 5th. TheStreet upgraded shares of Regenxbio from a “d+” rating to a “c-” rating in a report on Tuesday, February 11th. Finally, Morgan Stanley cut their price target on shares of Regenxbio from $58.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, March 3rd.

In related news, Director Donald J. Hayden, Jr. sold 3,200 shares of Regenxbio stock in a transaction on Friday, January 17th. The shares were sold at an average price of $50.01, for a total transaction of $160,032.00. Following the completion of the transaction, the director now owns 3,200 shares of the company’s stock, valued at $160,032. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Vittal Vasista sold 7,500 shares of Regenxbio stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $41.75, for a total transaction of $313,125.00. Following the transaction, the chief financial officer now directly owns 232,215 shares of the company’s stock, valued at approximately $9,694,976.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,016 shares of company stock worth $2,256,957. 13.80% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Redmile Group LLC raised its stake in Regenxbio by 69.8% during the third quarter. Redmile Group LLC now owns 2,362,486 shares of the biotechnology company’s stock worth $84,105,000 after buying an additional 971,110 shares during the last quarter. State Street Corp raised its stake in Regenxbio by 2.1% during the third quarter. State Street Corp now owns 2,098,508 shares of the biotechnology company’s stock worth $74,707,000 after buying an additional 43,156 shares during the last quarter. UBS Group AG raised its stake in Regenxbio by 27.4% during the fourth quarter. UBS Group AG now owns 654,776 shares of the biotechnology company’s stock worth $26,826,000 after buying an additional 140,979 shares during the last quarter. Credit Suisse AG raised its stake in Regenxbio by 4.2% during the fourth quarter. Credit Suisse AG now owns 508,247 shares of the biotechnology company’s stock worth $20,823,000 after buying an additional 20,393 shares during the last quarter. Finally, Kam Lawrence bought a new position in Regenxbio during the fourth quarter worth $19,078,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Regenxbio stock traded up $0.37 during mid-day trading on Monday, reaching $32.54. The company had a trading volume of 456,497 shares, compared to its average volume of 545,343. Regenxbio has a fifty-two week low of $20.03 and a fifty-two week high of $59.98. The company has a current ratio of 10.25, a quick ratio of 10.25 and a debt-to-equity ratio of 0.02. The company has a market cap of $1.23 billion, a P/E ratio of -12.56 and a beta of 0.88. The business has a fifty day simple moving average of $41.36 and a 200 day simple moving average of $40.48.

Regenxbio (NASDAQ:RGNX) last issued its earnings results on Wednesday, February 26th. The biotechnology company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.28). Regenxbio had a negative net margin of 268.88% and a negative return on equity of 25.21%. The company had revenue of $11.77 million during the quarter, compared to analyst estimates of $39.67 million. Research analysts forecast that Regenxbio will post -2.21 EPS for the current year.

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.

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Analyst Recommendations for Regenxbio (NASDAQ:RGNX)

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