Regenxbio Inc (NASDAQ:RGNX) Expected to Announce Quarterly Sales of $19.39 Million

Brokerages expect that Regenxbio Inc (NASDAQ:RGNX) will post $19.39 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Regenxbio’s earnings. The highest sales estimate is $22.88 million and the lowest is $15.90 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 business is scheduled to issue its next quarterly earnings results on Wednesday, August 5th.

According to Zacks, analysts expect that Regenxbio will report full year sales of $147.01 million for the current year, with estimates ranging from $94.39 million to $230.20 million. For the next financial year, analysts forecast that the firm will report sales of $189.57 million, with estimates ranging from $148.66 million to $262.64 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Regenxbio.

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

RGNX has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Regenxbio from a “sell” rating to a “hold” rating in a research report on Thursday, March 5th. TheStreet upgraded Regenxbio from a “d+” rating to a “c-” rating in a report on Tuesday, February 11th. ValuEngine downgraded Regenxbio from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 1st. Morgan Stanley upped their price objective on Regenxbio from $55.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Finally, BidaskClub cut Regenxbio from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $65.83.

Shares of RGNX stock traded up $1.21 during midday trading on Monday, reaching $43.44. 188,238 shares of the company traded hands, compared to its average volume of 406,807. The firm’s 50 day simple moving average is $36.57 and its two-hundred day simple moving average is $40.19. Regenxbio has a 1-year low of $20.03 and a 1-year high of $55.23. The company has a debt-to-equity ratio of 0.02, a current ratio of 10.64 and a quick ratio of 10.64. The firm has a market cap of $1.57 billion, a PE ratio of -15.63 and a beta of 1.13.

In other Regenxbio news, CFO Vittal Vasista sold 7,000 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $40.18, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 10,500 shares of company stock worth $421,260. 14.10% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in RGNX. State Street Corp lifted its holdings in shares of Regenxbio by 2.1% during the 3rd quarter. State Street Corp now owns 2,098,508 shares of the biotechnology company’s stock worth $74,707,000 after acquiring an additional 43,156 shares during the period. IFP Advisors Inc lifted its holdings in shares of Regenxbio by 532.0% during the 4th quarter. IFP Advisors Inc now owns 1,264 shares of the biotechnology company’s stock worth $52,000 after acquiring an additional 1,064 shares during the period. Prentiss Smith & Co. Inc. lifted its holdings in shares of Regenxbio by 58.2% during the 4th quarter. Prentiss Smith & Co. Inc. now owns 12,031 shares of the biotechnology company’s stock worth $493,000 after acquiring an additional 4,425 shares during the period. New York State Teachers Retirement System lifted its holdings in shares of Regenxbio by 17.9% during the 4th quarter. New York State Teachers Retirement System now owns 33,631 shares of the biotechnology company’s stock worth $1,378,000 after acquiring an additional 5,100 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in shares of Regenxbio by 13.6% during the 4th quarter. California Public Employees Retirement System now owns 71,900 shares of the biotechnology company’s stock worth $2,946,000 after acquiring an additional 8,600 shares during the period. Institutional investors and hedge funds own 79.63% of the company’s stock.

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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