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Is a Beat in Store for Abeona (ABEO) This Earnings Season?
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We expect Abeona Therapeutics Inc. to beat expectations when it reports first-quarter 2020 results.
The company’s earnings missed the Zacks Consensus Estimate in three of the last four quarters and beat the same once with the average negative surprise being 6.96%.
Shares of Abeona have declined 26.6% so far this year against the industry‘s increase of 1.4%.
In the last reported quarter, Abeona’s delivered a positive earnings surprise of 84.31%.
Let’s see how things have shaped up for this announcement.
Factors to Note
Abeona is focused on developing gene and cell therapies for life-threatening rare genetic diseases. With no marketed products and collaborations, the company does not generate any revenues.
In March, the company treated the first patients in the pivotal phase III study — VIITAL — evaluating its lead pipeline candidate, EB-101, in patients with recessive dystrophic epidermolysis bullosa. The initiation of the study during the first quarter is likely to have driven operating expense higher.
Apart from EB-101, the company has two other clinical-stage pipeline candidates in its portfolio. The candidates — ABO-102 and ABO-101 — are adeno-associated virus-based gene therapies, which are being developed for treating Sanfilippo syndrome type A and Sanfilippo syndrome type B, respectively.
We expect the company to provide updated data from clinical studies on ABO-102 and ABO-101 on its first-quarter earnings call.
Why a Likely Positive Surprise?
Our proven model predicts an earnings beat for Abeona this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate (loss of 19 cents per share) and the Zacks Consensus Estimate (loss of 21 cents per share) is +9.52%.
Here are a few drug/biotech stocks you may want to consider, as our model shows that these also have the right combination of elements to post an earnings beat in their upcoming release.
Exact Sciences Corporation (EXAS - Free Report) has an Earnings ESP of +26.79% and a Zacks Rank #2. The company is scheduled to release first-quarter results on May 6.
Alexion Pharmaceuticals, Inc. has an Earnings ESP of +0.83% and a Zacks Rank #2. The company is scheduled to release first-quarter results on May 6.
Alnylam Pharmaceuticals, Inc. (ALNY - Free Report) has an Earnings ESP of +4.65% and a Zacks Rank #3. The company is scheduled to release first-quarter results on May 6.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Image: Bigstock
Is a Beat in Store for Abeona (ABEO) This Earnings Season?
We expect Abeona Therapeutics Inc. to beat expectations when it reports first-quarter 2020 results.
The company’s earnings missed the Zacks Consensus Estimate in three of the last four quarters and beat the same once with the average negative surprise being 6.96%.
Shares of Abeona have declined 26.6% so far this year against the industry‘s increase of 1.4%.
In the last reported quarter, Abeona’s delivered a positive earnings surprise of 84.31%.
Let’s see how things have shaped up for this announcement.
Factors to Note
Abeona is focused on developing gene and cell therapies for life-threatening rare genetic diseases. With no marketed products and collaborations, the company does not generate any revenues.
In March, the company treated the first patients in the pivotal phase III study — VIITAL — evaluating its lead pipeline candidate, EB-101, in patients with recessive dystrophic epidermolysis bullosa. The initiation of the study during the first quarter is likely to have driven operating expense higher.
Apart from EB-101, the company has two other clinical-stage pipeline candidates in its portfolio. The candidates — ABO-102 and ABO-101 — are adeno-associated virus-based gene therapies, which are being developed for treating Sanfilippo syndrome type A and Sanfilippo syndrome type B, respectively.
We expect the company to provide updated data from clinical studies on ABO-102 and ABO-101 on its first-quarter earnings call.
Why a Likely Positive Surprise?
Our proven model predicts an earnings beat for Abeona this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate (loss of 19 cents per share) and the Zacks Consensus Estimate (loss of 21 cents per share) is +9.52%.
Zacks Rank: Abeona currently carries a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Abeona Therapeutics Inc. Price and Consensus
Abeona Therapeutics Inc. price-consensus-chart | Abeona Therapeutics Inc. Quote
Other Stocks to Consider
Here are a few drug/biotech stocks you may want to consider, as our model shows that these also have the right combination of elements to post an earnings beat in their upcoming release.
Exact Sciences Corporation (EXAS - Free Report) has an Earnings ESP of +26.79% and a Zacks Rank #2. The company is scheduled to release first-quarter results on May 6.
Alexion Pharmaceuticals, Inc. has an Earnings ESP of +0.83% and a Zacks Rank #2. The company is scheduled to release first-quarter results on May 6.
Alnylam Pharmaceuticals, Inc. (ALNY - Free Report) has an Earnings ESP of +4.65% and a Zacks Rank #3. The company is scheduled to release first-quarter results on May 6.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>