Abeona Therapeutics initiated with an Outperform at Oppenheimer

Oppenheimer initiated coverage of Abeona Therapeutics (ABEO) with an Outperform rating and $16 price target The company’s main value driver is pz-cel, or genetically engineered autologous skin sheets, for the treatment of recessive dystrophic epidermolysis bullosa, the analyst tells investors in a research note. The firm is optimistic about pz-cel’s complete response letter resolution and approval into the April 29 FDA action date. With a likely imminent CRL resolution, Abeona is “particularly attractive at these levels,” contends Oppenheimer.