REGENXBIO (NASDAQ:RGNX) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of REGENXBIO (NASDAQ:RGNXGet Rating) from a hold rating to a buy rating in a report published on Friday, Zacks.com reports. They currently have $35.00 price target on the biotechnology company’s stock.

According to Zacks, “REGENXBIO Inc. is a biotechnology company. The Company focuses on the development, commercialization and licensing of recombinant adeno-associated virus gene therapy. Its products candidates include RGX-501, for the treatment of homozygous familial hypercholesterolemia which uses the AAV8 vector to deliver the human low-density lipoprotein receptor gene to liver cells; RGX-111, for the treatment of Mucopolysaccharidosis Type I which uses the AAV9 vector to deliver the human a-l-iduronidase gene to the central nervous system; RGX-121, for the treatment of Mucopolysaccharidosis Type II; RGX-314, for the treatment of wet age-related macular degeneration and RGX-321, for the treatment of X-linked retinitis pigmentosa. REGENXBIO Inc. is headquartered in Rockville, Maryland. “

A number of other brokerages also recently weighed in on RGNX. SVB Leerink lowered their target price on shares of REGENXBIO from $29.00 to $25.00 and set a market perform rating for the company in a research note on Wednesday, March 2nd. Morgan Stanley lifted their target price on shares of REGENXBIO from $50.00 to $51.00 and gave the stock an overweight rating in a research note on Wednesday, March 23rd. StockNews.com started coverage on shares of REGENXBIO in a research note on Thursday, March 31st. They issued a hold rating for the company. TheStreet raised shares of REGENXBIO from a d rating to a c rating in a research note on Tuesday, March 1st. Finally, Chardan Capital reaffirmed a buy rating on shares of REGENXBIO in a research note on Monday, April 11th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Buy and a consensus price target of $46.25.

Shares of NASDAQ:RGNX opened at $29.44 on Friday. REGENXBIO has a 52 week low of $24.09 and a 52 week high of $46.46. The firm’s fifty day moving average is $29.07 and its 200-day moving average is $31.00. The firm has a market cap of $1.27 billion, a PE ratio of 10.74 and a beta of 1.06.

REGENXBIO (NASDAQ:RGNXGet Rating) last announced its earnings results on Tuesday, March 1st. The biotechnology company reported $6.67 earnings per share for the quarter, topping analysts’ consensus estimates of $4.28 by $2.39. REGENXBIO had a net margin of 27.18% and a return on equity of 22.35%. The business had revenue of $398.66 million during the quarter, compared to the consensus estimate of $255.76 million. During the same quarter last year, the firm earned ($1.24) earnings per share. REGENXBIO’s quarterly revenue was up 1759.0% on a year-over-year basis. Research analysts anticipate that REGENXBIO will post -3.32 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of REGENXBIO during the fourth quarter worth about $11,392,000. BlackRock Inc. boosted its holdings in REGENXBIO by 3.3% during the fourth quarter. BlackRock Inc. now owns 6,571,438 shares of the biotechnology company’s stock worth $214,884,000 after purchasing an additional 209,635 shares during the last quarter. California State Teachers Retirement System boosted its holdings in REGENXBIO by 1.9% during the fourth quarter. California State Teachers Retirement System now owns 48,296 shares of the biotechnology company’s stock worth $1,579,000 after purchasing an additional 910 shares during the last quarter. Parametric Portfolio Associates LLC boosted its holdings in REGENXBIO by 31.6% during the fourth quarter. Parametric Portfolio Associates LLC now owns 105,058 shares of the biotechnology company’s stock worth $3,435,000 after purchasing an additional 25,233 shares during the last quarter. Finally, State of Tennessee Treasury Department boosted its holdings in REGENXBIO by 4.6% during the fourth quarter. State of Tennessee Treasury Department now owns 21,199 shares of the biotechnology company’s stock worth $693,000 after purchasing an additional 929 shares during the last quarter. 80.66% of the stock is owned by institutional investors.

About REGENXBIO (Get Rating)

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 gene delivery platform.

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