Regenxbio Inc (NASDAQ:RGNX) Expected to Post Quarterly Sales of $6.26 Million

Equities research analysts expect Regenxbio Inc (NASDAQ:RGNX) to post $6.26 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Regenxbio’s earnings. The highest sales estimate is $7.20 million and the lowest is $5.31 million. Regenxbio reported sales of $5.31 million during the same quarter last year, which indicates a positive year over year growth rate of 17.9%. The company is expected to announce its next earnings results on Wednesday, November 6th.

On average, analysts expect that Regenxbio will report full-year sales of $47.55 million for the current year, with estimates ranging from $13.26 million to $76.35 million. For the next fiscal year, analysts forecast that the firm will report sales of $193.82 million, with estimates ranging from $157.26 million to $286.80 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Regenxbio.

Regenxbio (NASDAQ:RGNX) last released its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported ($0.04) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.50) by $0.46. The business had revenue of $7.88 million during the quarter, compared to analyst estimates of $5.45 million. Regenxbio had a negative net margin of 88.57% and a negative return on equity of 15.39%. The company’s quarterly revenue was down 80.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 earnings per share.

Several analysts have commented on RGNX shares. Leerink Swann raised shares of Regenxbio from an “underperform” rating to a “market perform” rating in a research report on Tuesday, August 20th. They noted that the move was a valuation call. Chardan Capital set a $150.00 price target on shares of Regenxbio and gave the company a “buy” rating in a research report on Wednesday, September 4th. ValuEngine raised shares of Regenxbio from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 1st. Evercore ISI set a $79.00 price target on shares of Regenxbio and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, Raymond James started coverage on shares of Regenxbio in a research report on Thursday, June 13th. They set an “outperform” rating for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $79.56.

In other news, insider Kenneth T. Mills sold 15,000 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $37.55, for a total transaction of $563,250.00. Following the transaction, the insider now owns 261,000 shares in the company, valued at $9,800,550. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Patrick J. Christmas sold 5,000 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $50.03, for a total transaction of $250,150.00. Following the transaction, the senior vice president now owns 3,058 shares in the company, valued at approximately $152,991.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,486 shares of company stock worth $2,183,662. Corporate insiders own 13.80% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. State of Alaska Department of Revenue increased its holdings in Regenxbio by 129.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 24,038 shares of the biotechnology company’s stock worth $855,000 after buying an additional 13,564 shares during the period. BlackRock Inc. increased its holdings in Regenxbio by 3.5% in the 2nd quarter. BlackRock Inc. now owns 5,047,103 shares of the biotechnology company’s stock worth $259,270,000 after buying an additional 169,888 shares during the period. Royal Bank of Canada increased its holdings in Regenxbio by 36.2% in the 2nd quarter. Royal Bank of Canada now owns 3,910 shares of the biotechnology company’s stock worth $201,000 after buying an additional 1,040 shares during the period. UBS Group AG increased its holdings in Regenxbio by 438.6% in the 2nd quarter. UBS Group AG now owns 263,094 shares of the biotechnology company’s stock worth $13,515,000 after buying an additional 214,244 shares during the period. Finally, Nuveen Asset Management LLC acquired a new position in Regenxbio in the 2nd quarter worth approximately $10,206,000. Hedge funds and other institutional investors own 79.40% of the company’s stock.

Shares of RGNX stock traded down $1.08 during mid-day trading on Wednesday, hitting $37.41. 466,489 shares of the stock traded hands, compared to its average volume of 560,890. The stock has a market cap of $1.38 billion, a P/E ratio of 15.72 and a beta of 0.82. The stock’s fifty day moving average is $35.79 and its two-hundred day moving average is $45.72. Regenxbio has a 52-week low of $30.38 and a 52-week high of $73.81. The company has a debt-to-equity ratio of 0.01, a current ratio of 14.58 and a quick ratio of 14.58.

About Regenxbio

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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