Brokerages Expect Regenxbio Inc (NASDAQ:RGNX) Will Announce Quarterly Sales of $19.39 Million

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Wall Street analysts expect Regenxbio Inc (NASDAQ:RGNX) to announce $19.39 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Regenxbio’s earnings, with estimates ranging from $15.90 million to $22.88 million. Regenxbio posted sales of $7.88 million in the same quarter last year, which suggests a positive year-over-year growth rate of 146.1%. The firm is expected to issue its next quarterly earnings results on Wednesday, August 5th.

According to Zacks, analysts expect that Regenxbio will report full year sales of $151.39 million for the current financial year, with estimates ranging from $94.39 million to $247.70 million. For the next financial year, analysts expect that the business will post sales of $199.73 million, with estimates ranging from $148.66 million to $262.64 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Regenxbio.

Regenxbio (NASDAQ:RGNX) last released its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($1.08) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.21). The firm had revenue of $17.60 million for the quarter, compared to analysts’ expectations of $17.99 million. Regenxbio had a negative return on equity of 27.84% and a negative net margin of 197.23%. The company’s revenue for the quarter was up 1855.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.89) earnings per share.

Several research firms have commented on RGNX. Royal Bank of Canada began coverage on Regenxbio in a report on Tuesday, May 12th. They set a “sector perform” rating and a $42.00 price objective on the stock. Chardan Capital restated a “buy” rating on shares of Regenxbio in a report on Sunday, June 7th. Morgan Stanley raised their price objective on Regenxbio from $55.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Bank of America assumed coverage on Regenxbio in a research report on Thursday, June 25th. They set a “buy” rating and a $60.00 target price on the stock. Finally, BidaskClub raised Regenxbio from a “sell” rating to a “hold” rating in a research report on Thursday, June 18th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $65.00.

In other news, CFO Vittal Vasista sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $40.18, for a total transaction of $281,260.00. Following the transaction, the chief financial officer now directly owns 213,715 shares in the company, valued at approximately $8,587,068.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last quarter, insiders sold 10,500 shares of company stock worth $421,260. 14.10% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of the company. State Street Corp boosted its stake in Regenxbio by 4.8% in the first quarter. State Street Corp now owns 1,966,563 shares of the biotechnology company’s stock valued at $63,677,000 after acquiring an additional 89,433 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Regenxbio by 9.6% during the 1st quarter. JPMorgan Chase & Co. now owns 1,503,346 shares of the biotechnology company’s stock worth $48,679,000 after buying an additional 132,212 shares during the period. UBS Group AG increased its stake in Regenxbio by 27.4% during the 4th quarter. UBS Group AG now owns 654,776 shares of the biotechnology company’s stock worth $26,826,000 after buying an additional 140,979 shares during the period. Credit Suisse AG increased its position in shares of Regenxbio by 4.2% in the 4th quarter. Credit Suisse AG now owns 508,247 shares of the biotechnology company’s stock worth $20,823,000 after purchasing an additional 20,393 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Regenxbio by 6.3% in the 1st quarter. Geode Capital Management LLC now owns 490,210 shares of the biotechnology company’s stock worth $15,872,000 after purchasing an additional 28,988 shares during the last quarter. 78.00% of the stock is currently owned by institutional investors and hedge funds.

RGNX traded down $1.89 during trading on Wednesday, hitting $36.21. 389,508 shares of the stock were exchanged, compared to its average volume of 478,295. The firm has a 50 day simple moving average of $38.30 and a 200 day simple moving average of $39.83. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of -13.06 and a beta of 1.08. Regenxbio has a 1 year low of $20.03 and a 1 year high of $54.97. The company has a debt-to-equity ratio of 0.02, a quick ratio of 10.64 and a current ratio of 10.64.

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 or antibodies 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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Earnings History and Estimates for Regenxbio (NASDAQ:RGNX)

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