Abivax’s (ABVX) “Buy” Rating Reiterated at Guggenheim

Guggenheim reiterated their buy rating on shares of Abivax (NASDAQ:ABVX) in a report issued on Tuesday,Benzinga reports. The firm currently has a $175.00 price target on the stock.

A number of other research analysts have also recently issued reports on ABVX. Truist Financial reduced their price objective on Abivax from $155.00 to $151.00 and set a “buy” rating on the stock in a research note on Tuesday, September 22nd. Citizens Jmp restated a “market outperform” rating and set a $187.00 target price on shares of Abivax in a report on Wednesday, July 1st. Barclays restated an “overweight” rating and set a $148.00 price target on shares of Abivax in a research report on Tuesday, September 22nd. Jefferies Financial Group raised Abivax from a “hold” rating to a “buy” rating and lifted their price target for the stock from $108.00 to $158.00 in a research note on Tuesday, June 30th. Finally, Wall Street Zen cut Abivax from a “hold” rating to a “sell” rating in a research note on Saturday, September 26th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $155.00.

Abivax Price Performance

Shares of NASDAQ:ABVX opened at $90.23 on Tuesday. Abivax has a one year low of $69.81 and a one year high of $148.83. The company has a market cap of $7.90 billion, a price-to-earnings ratio of -14.89 and a beta of 1.14. The firm has a fifty day moving average price of $103.84 and a two-hundred day moving average price of $113.95.

Abivax (NASDAQ:ABVX) last posted its quarterly earnings data on Monday, September 21st. The company reported ($1.71) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.79). The company had revenue of $1.37 million for the quarter, compared to the consensus estimate of $0.80 million. Equities research analysts expect that Abivax will post -4.19 EPS for the current fiscal year.

Institutional Trading of Abivax

Several large investors have recently added to or reduced their stakes in ABVX. Two Seas Capital LP bought a new position in Abivax in the 3rd quarter worth $66,996,000. Eversept Partners LP boosted its stake in shares of Abivax by 42.0% during the 1st quarter. Eversept Partners LP now owns 934,423 shares of the company’s stock valued at $104,048,000 after purchasing an additional 276,589 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Abivax by 40.9% during the 1st quarter. Bank of America Corp DE now owns 735,729 shares of the company’s stock valued at $81,923,000 after purchasing an additional 213,440 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Abivax by 31.6% during the first quarter. Janus Henderson Group PLC now owns 878,829 shares of the company’s stock valued at $98,007,000 after buying an additional 211,068 shares during the period. Finally, Readystate Asset Management LP increased its position in shares of Abivax by 111.0% during the first quarter. Readystate Asset Management LP now owns 202,022 shares of the company’s stock valued at $22,495,000 after buying an additional 106,293 shares during the period. Institutional investors own 47.91% of the company’s stock.

Abivax Company Profile

Abivax SA (NASDAQ: ABVX) is a clinical-stage biotechnology company focused on developing therapeutics for chronic inflammatory and immune-mediated diseases. Headquartered in Paris, France, the company conducts research and clinical development aimed at addressing conditions with significant unmet medical needs.

Abivax’s lead investigational product is obefazimod, an oral small-molecule therapy designed to selectively increase levels of microRNA-124, a regulatory molecule involved in controlling inflammatory responses.