Regenxbio (NASDAQ:RGNX) Upgraded to Strong-Buy at Raymond James

Raymond James upgraded shares of Regenxbio (NASDAQ:RGNX) from an outperform rating to a strong-buy rating in a research note released on Tuesday, February 5th, MarketBeat Ratings reports. They currently have $94.00 target price on the biotechnology company’s stock.

Other analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Regenxbio from a hold rating to a buy rating and set a $78.00 price target for the company in a research note on Wednesday, November 7th. BidaskClub upgraded shares of Regenxbio from a hold rating to a buy rating in a research note on Saturday, November 3rd. ValuEngine lowered shares of Regenxbio from a strong-buy rating to a buy rating in a research note on Thursday, October 11th. Finally, Chardan Capital reiterated a buy rating and issued a $127.50 target price on shares of Regenxbio in a research note on Monday, December 17th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Regenxbio presently has an average rating of Buy and an average target price of $77.97.

Shares of NASDAQ RGNX traded up $2.13 during midday trading on Tuesday, reaching $53.86. The stock had a trading volume of 442,725 shares, compared to its average volume of 406,350. The company has a market capitalization of $1.67 billion, a P/E ratio of 22.63 and a beta of 0.41. Regenxbio has a twelve month low of $26.80 and a twelve month high of $85.10.

Regenxbio (NASDAQ:RGNX) last issued its quarterly earnings results on Wednesday, February 27th. The biotechnology company reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.32) by $0.43. Regenxbio had a net margin of 44.30% and a return on equity of 22.52%. On average, sell-side analysts expect that Regenxbio will post -3.19 earnings per share for the current year.

In related news, CFO Vittal Vasista sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, December 17th. The shares were sold at an average price of $46.35, for a total value of $347,625.00. Following the transaction, the chief financial officer now directly owns 125,683 shares in the company, valued at $5,825,407.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Curran Simpson sold 43,832 shares of the company’s stock in a transaction that occurred on Tuesday, February 5th. The stock was sold at an average price of $50.08, for a total transaction of $2,195,106.56. Following the completion of the transaction, the senior vice president now owns 47,950 shares in the company, valued at $2,401,336. The disclosure for this sale can be found here. Over the last three months, insiders sold 106,632 shares of company stock worth $5,134,947. Insiders own 16.90% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Regenxbio by 2.1% during the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 11,192 shares of the biotechnology company’s stock valued at $470,000 after purchasing an additional 225 shares during the period. Piedmont Investment Advisors Inc. lifted its position in Regenxbio by 5.8% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 7,198 shares of the biotechnology company’s stock valued at $302,000 after buying an additional 395 shares during the period. Public Employees Retirement System of Ohio lifted its position in Regenxbio by 8.0% during the fourth quarter. Public Employees Retirement System of Ohio now owns 5,364 shares of the biotechnology company’s stock valued at $225,000 after buying an additional 398 shares during the period. New York State Teachers Retirement System lifted its position in Regenxbio by 3.6% during the fourth quarter. New York State Teachers Retirement System now owns 12,649 shares of the biotechnology company’s stock valued at $531,000 after buying an additional 438 shares during the period. Finally, State of Alaska Department of Revenue lifted its position in Regenxbio by 5.0% during the fourth quarter. State of Alaska Department of Revenue now owns 10,065 shares of the biotechnology company’s stock valued at $422,000 after buying an additional 475 shares during the period. Institutional investors own 81.48% of the company’s stock.

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 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.

See Also: What is the Consumer Price Index (CPI)?

Analyst Recommendations for Regenxbio (NASDAQ:RGNX)

Receive News & Ratings for Regenxbio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regenxbio and related companies with MarketBeat.com's FREE daily email newsletter.