BTIG Research Reiterates “Buy” Rating for Abivax (NASDAQ:ABVX)

Abivax (NASDAQ:ABVX)‘s stock had its “buy” rating reissued by research analysts at BTIG Research in a research report issued on Tuesday,Benzinga reports. They presently have a $150.00 price objective on the stock. BTIG Research’s price objective would indicate a potential upside of 52.66% from the company’s previous close.

A number of other equities analysts have also weighed in on ABVX. Morgan Stanley decreased their target price on Abivax from $145.00 to $132.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 2nd. Jefferies Financial Group lowered Abivax from a “buy” rating to a “hold” rating and decreased their target price for the stock from $160.00 to $90.00 in a research note on Tuesday, June 2nd. Truist Financial decreased their target price on Abivax from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, June 2nd. Wolfe Research set a $136.00 target price on Abivax in a research note on Wednesday, June 3rd. Finally, Wedbush upgraded Abivax from an “underperform” rating to a “neutral” rating and decreased their target price for the stock from $110.00 to $90.00 in a research note on Tuesday, June 2nd. Twelve investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $130.08.

Abivax Stock Up 1.8%

Shares of NASDAQ ABVX opened at $98.26 on Tuesday. The firm has a market capitalization of $7.84 billion, a P/E ratio of -18.86 and a beta of 0.69. The stock’s 50-day simple moving average is $115.61 and its two-hundred day simple moving average is $118.86. Abivax has a twelve month low of $5.69 and a twelve month high of $148.83.

Abivax (NASDAQ:ABVX) last announced its earnings results on Friday, May 22nd. The company reported ($0.71) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.23. The business had revenue of $1.56 million during the quarter, compared to the consensus estimate of $0.40 million. As a group, research analysts anticipate that Abivax will post -3.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Abivax

A number of hedge funds and other institutional investors have recently modified their holdings of ABVX. GHP Investment Advisors Inc. boosted its holdings in shares of Abivax by 155.6% in the 1st quarter. GHP Investment Advisors Inc. now owns 230 shares of the company’s stock worth $26,000 after purchasing an additional 140 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Abivax by 4,612.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 377 shares of the company’s stock worth $32,000 after purchasing an additional 369 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Abivax by 56.1% in the 4th quarter. Bank of America Corp DE now owns 5,536 shares of the company’s stock worth $41,000 after purchasing an additional 1,990 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Abivax by 661.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 396 shares of the company’s stock worth $53,000 after purchasing an additional 344 shares in the last quarter. Finally, WPG Advisers LLC boosted its holdings in shares of Abivax by 125.9% in the 4th quarter. WPG Advisers LLC now owns 454 shares of the company’s stock worth $61,000 after purchasing an additional 253 shares in the last quarter. 47.91% of the stock is currently owned by hedge funds and other institutional investors.

Abivax Company Profile

Founded in 2013 and headquartered in Paris, France, Abivax is a clinical-stage biopharmaceutical company focused on discovering and developing novel therapies for chronic inflammatory diseases and viral infections. The company’s technology platform targets host RNA biogenesis to modulate key immune pathways, offering a differentiated approach aimed at disease modification and improved safety profiles.

Abivax’s lead clinical asset, obefazimod (ABX464), is being evaluated in ulcerative colitis and other inflammatory disorders.