Zacks: Analysts Expect REGENXBIO Inc. (NASDAQ:RGNX) Will Post Quarterly Sales of $29.40 Million

Brokerages expect REGENXBIO Inc. (NASDAQ:RGNX) to post $29.40 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for REGENXBIO’s earnings. The highest sales estimate is $39.90 million and the lowest is $18.90 million. REGENXBIO reported sales of $98.91 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 70.3%. The business is scheduled to issue its next quarterly earnings report on Wednesday, November 3rd.

According to Zacks, analysts expect that REGENXBIO will report full-year sales of $119.47 million for the current financial year, with estimates ranging from $81.26 million to $158.10 million. For the next fiscal year, analysts expect that the business will post sales of $165.72 million, with estimates ranging from $81.26 million to $260.70 million. Zacks’ sales calculations are an average based on a survey of research analysts that cover REGENXBIO.

REGENXBIO (NASDAQ:RGNX) last released its quarterly earnings data on Monday, August 9th. The biotechnology company reported ($1.36) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.08) by ($0.28). The business had revenue of $22.04 million during the quarter, compared to analysts’ expectations of $21.17 million. REGENXBIO had a negative return on equity of 31.31% and a negative net margin of 90.05%. The firm’s revenue was up 33.0% compared to the same quarter last year. During the same period last year, the company earned ($0.91) earnings per share.

RGNX has been the subject of a number of recent research reports. Royal Bank of Canada boosted their target price on shares of REGENXBIO from $50.00 to $55.00 and gave the stock a “sector perform” rating in a report on Tuesday. Barclays boosted their target price on shares of REGENXBIO from $79.00 to $82.00 and gave the stock an “overweight” rating in a report on Tuesday. Zacks Investment Research downgraded shares of REGENXBIO from a “hold” rating to a “strong sell” rating in a report on Friday, August 13th. Finally, Chardan Capital reiterated a “buy” rating and issued a $100.00 target price on shares of REGENXBIO in a report on Tuesday, August 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $60.63.

In related news, CEO Kenneth T. Mills sold 4,500 shares of the company’s stock in a transaction that occurred on Thursday, June 24th. The stock was sold at an average price of $40.02, for a total value of $180,090.00. Following the sale, the chief executive officer now owns 285,484 shares in the company, valued at $11,425,069.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 12.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. UBS Group AG boosted its position in REGENXBIO by 9.0% in the 1st quarter. UBS Group AG now owns 484,004 shares of the biotechnology company’s stock worth $16,509,000 after purchasing an additional 40,167 shares in the last quarter. Northern Trust Corp boosted its position in REGENXBIO by 12.3% in the 1st quarter. Northern Trust Corp now owns 438,745 shares of the biotechnology company’s stock worth $14,966,000 after purchasing an additional 48,013 shares in the last quarter. Rafferty Asset Management LLC boosted its position in REGENXBIO by 563.8% in the 1st quarter. Rafferty Asset Management LLC now owns 81,709 shares of the biotechnology company’s stock worth $2,787,000 after purchasing an additional 69,400 shares in the last quarter. Principal Financial Group Inc. boosted its position in REGENXBIO by 15.2% in the 1st quarter. Principal Financial Group Inc. now owns 256,060 shares of the biotechnology company’s stock worth $8,734,000 after purchasing an additional 33,858 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in REGENXBIO by 83.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 76,645 shares of the biotechnology company’s stock worth $2,614,000 after purchasing an additional 34,801 shares in the last quarter. Hedge funds and other institutional investors own 77.85% of the company’s stock.

REGENXBIO stock traded down $0.51 during trading hours on Wednesday, reaching $45.17. The stock had a trading volume of 696,998 shares, compared to its average volume of 405,363. The company has a market cap of $1.92 billion, a price-to-earnings ratio of -12.75 and a beta of 1.21. The business’s 50 day moving average price is $33.95 and its 200-day moving average price is $35.70. REGENXBIO has a 52 week low of $25.92 and a 52 week high of $50.26.

REGENXBIO Company Profile

REGENXBIO, Inc is a clinical-stage biotechnology company, which engages in the development, commercialization, and licensing of recombinant adeno-associated virus gene therapy. Its product candidates include NAV Technology Platform, which consists of exclusive rights to novel adeno-associated viral vectors; and therapeutic programs such as RGX-314, RGX-202, RGX-121, RGX-111, RGX-181, and RGX-381.

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Earnings History and Estimates for REGENXBIO (NASDAQ:RGNX)

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