Abeona Therapeutics (ABEO)

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Abeona Therapeutics selloff yesterday an overreaction, says B. Riley FBR 08:00 ABEO B. Riley FBR analyst Justin Zelin lowered the firm's price target on Abeona Therapeutics to $2 from $5 and reiterates a Buy rating on the shares. The company's assets, including manufacturing infrastructure, are worth more than the market's current valuation following yesterday's 41% selloff, Zelin tells investors in a research note. However, to reflect reduced transparency into Abeona's leadership and strategy Zelin lowered his probability of success for lead asset EB-101 from 65% to 50% and from 20% to 15% for AB-102 and AB-101. Nonetheless, the analyst views yesterday's pullback as overreaction and continues to see upside in the shares.

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