REGENXBIO’s (RGNX) Buy Rating Reiterated at Stifel Nicolaus

Stifel Nicolaus reaffirmed their buy rating on shares of REGENXBIO (NASDAQ:RGNX) in a research report report published on Friday, Benzinga reports. Stifel Nicolaus currently has a $40.00 price target on the biotechnology company’s stock.

Several other research analysts have also commented on RGNX. HC Wainwright reissued a buy rating and issued a $36.00 price objective on shares of REGENXBIO in a research note on Monday, March 11th. SVB Leerink upgraded shares of REGENXBIO from a market perform rating to an outperform rating and set a $37.00 price target for the company in a research note on Wednesday, March 6th. Raymond James reiterated an outperform rating and issued a $45.00 price target on shares of REGENXBIO in a research note on Wednesday, February 21st. Royal Bank of Canada upgraded shares of REGENXBIO from a sector perform rating to an outperform rating and lifted their price target for the stock from $20.00 to $35.00 in a research note on Friday, March 8th. Finally, Barclays lifted their price target on shares of REGENXBIO from $45.00 to $55.00 and gave the stock an overweight rating in a research note on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $38.45.

REGENXBIO Price Performance

Shares of RGNX stock opened at $18.09 on Friday. The firm has a market cap of $887.13 million, a PE ratio of -3.00 and a beta of 1.29. The company has a 50-day moving average of $19.78 and a two-hundred day moving average of $17.85. REGENXBIO has a 1-year low of $11.83 and a 1-year high of $28.80.

REGENXBIO (NASDAQ:RGNX) last posted its quarterly earnings data on Tuesday, February 27th. The biotechnology company reported ($1.43) EPS for the quarter, missing the consensus estimate of ($1.27) by ($0.16). REGENXBIO had a negative net margin of 291.99% and a negative return on equity of 68.18%. The business had revenue of $22.30 million during the quarter, compared to analysts’ expectations of $34.01 million. During the same period in the previous year, the business posted ($1.38) EPS. The company’s revenue for the quarter was down 28.8% compared to the same quarter last year. Sell-side analysts anticipate that REGENXBIO will post -3.98 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Kenneth T. Mills sold 45,000 shares of REGENXBIO stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $15.18, for a total value of $683,100.00. Following the transaction, the chief executive officer now directly owns 408,035 shares of the company’s stock, valued at approximately $6,193,971.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Steve Pakola sold 12,878 shares of REGENXBIO stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $28.36, for a total value of $365,220.08. Following the transaction, the insider now directly owns 107,192 shares of the company’s stock, valued at approximately $3,039,965.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kenneth T. Mills sold 45,000 shares of REGENXBIO stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $15.18, for a total transaction of $683,100.00. Following the completion of the transaction, the chief executive officer now directly owns 408,035 shares in the company, valued at $6,193,971.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 87,878 shares of company stock valued at $1,627,620. 12.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On REGENXBIO

Institutional investors have recently modified their holdings of the business. Captrust Financial Advisors increased its holdings in shares of REGENXBIO by 742.1% in the 1st quarter. Captrust Financial Advisors now owns 960 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 846 shares during the period. Royal Bank of Canada grew its position in REGENXBIO by 189.8% in the 3rd quarter. Royal Bank of Canada now owns 1,397 shares of the biotechnology company’s stock valued at $37,000 after buying an additional 915 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in REGENXBIO in the 4th quarter valued at $38,000. PNC Financial Services Group Inc. grew its position in REGENXBIO by 73.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,761 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 746 shares during the last quarter. Finally, Point72 Middle East FZE purchased a new position in REGENXBIO in the 4th quarter valued at $52,000. 88.08% of the stock is owned by institutional investors and hedge funds.

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.