Wall Street brokerages expect Regenxbio Inc (NASDAQ:RGNX) to announce sales of $12.50 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Regenxbio’s earnings. The highest sales estimate is $15.00 million and the lowest is $10.00 million. Regenxbio posted sales of $2.04 million in the same quarter last year, which suggests a positive year over year growth rate of 512.7%. The business is expected to announce its next quarterly earnings report on Tuesday, March 5th.
According to Zacks, analysts expect that Regenxbio will report full year sales of $204.28 million for the current fiscal year, with estimates ranging from $187.73 million to $232.39 million. For the next fiscal year, analysts anticipate that the firm will post sales of $25.22 million, with estimates ranging from $18.84 million to $32.45 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Regenxbio.
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Several analysts have weighed in on the company. Leerink Swann assumed coverage on Regenxbio in a research report on Tuesday, November 27th. They set an “underperform” rating and a $42.00 price objective on the stock. Zacks Investment Research raised Regenxbio from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Tuesday, January 29th. ValuEngine raised Regenxbio from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. Raymond James raised Regenxbio from an “outperform” rating to a “strong-buy” rating and set a $94.00 price objective on the stock in a research report on Tuesday, February 5th. Finally, Morgan Stanley cut their price objective on Regenxbio from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 19th. Two analysts have rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $81.50.
In related news, CEO Kenneth T. Mills sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $47.29, for a total value of $709,350.00. Following the completion of the transaction, the chief executive officer now directly owns 261,000 shares in the company, valued at approximately $12,342,690. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Patrick J. Christmas sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 18th. The stock was sold at an average price of $47.54, for a total transaction of $237,700.00. Following the completion of the transaction, the senior vice president now owns 7,669 shares of the company’s stock, valued at $364,584.26. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 154,623 shares of company stock valued at $8,296,412. 16.90% 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 RGNX. BlackRock Inc. raised its stake in Regenxbio by 2.0% during the 4th quarter. BlackRock Inc. now owns 4,822,962 shares of the biotechnology company’s stock valued at $202,322,000 after buying an additional 95,917 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Regenxbio by 51.0% during the 3rd quarter. Vanguard Group Inc. now owns 2,805,969 shares of the biotechnology company’s stock valued at $211,851,000 after acquiring an additional 947,671 shares during the period. Vanguard Group Inc grew its position in shares of Regenxbio by 51.0% during the 3rd quarter. Vanguard Group Inc now owns 2,805,969 shares of the biotechnology company’s stock valued at $211,851,000 after acquiring an additional 947,671 shares during the period. Redmile Group LLC grew its position in shares of Regenxbio by 6.1% during the 3rd quarter. Redmile Group LLC now owns 1,656,065 shares of the biotechnology company’s stock valued at $125,033,000 after acquiring an additional 94,890 shares during the period. Finally, Perceptive Advisors LLC grew its position in shares of Regenxbio by 37.2% during the 4th quarter. Perceptive Advisors LLC now owns 645,726 shares of the biotechnology company’s stock valued at $26,894,000 after acquiring an additional 175,054 shares during the period. Institutional investors own 81.48% of the company’s stock.
Shares of RGNX traded down $0.57 during trading hours on Friday, hitting $46.23. The company had a trading volume of 424,481 shares, compared to its average volume of 444,282. The company has a market cap of $1.70 billion, a P/E ratio of -18.87 and a beta of 0.41. Regenxbio has a 52-week low of $26.20 and a 52-week high of $85.10.
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 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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