Leerink Partners Issues Positive Forecast for Abivax (NASDAQ:ABVX) Stock Price

Abivax (NASDAQ:ABVX) had its target price boosted by analysts at Leerink Partners from $140.00 to $148.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Leerink Partners’ price target suggests a potential upside of 11.17% from the stock’s current price.

Several other research firms have also commented on ABVX. Jefferies Financial Group lowered Abivax from a “buy” rating to a “hold” rating and reduced their price target for the stock from $160.00 to $90.00 in a report on Tuesday, June 2nd. Barclays upped their price objective on shares of Abivax from $142.00 to $148.00 and gave the company an “overweight” rating in a report on Tuesday, March 24th. Wedbush lifted their target price on shares of Abivax from $90.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday. Citizens Jmp boosted their target price on shares of Abivax from $131.00 to $187.00 and gave the company a “market outperform” rating in a report on Tuesday, June 2nd. Finally, Truist Financial dropped their price target on shares of Abivax from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, June 2nd. Thirteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $139.23.

Abivax Price Performance

Shares of NASDAQ:ABVX traded up $36.98 during midday trading on Tuesday, hitting $133.13. The company had a trading volume of 4,695,359 shares, compared to its average volume of 1,526,987. Abivax has a twelve month low of $7.41 and a twelve month high of $148.83. The stock has a market cap of $10.62 billion, a price-to-earnings ratio of -25.47 and a beta of 0.69. The business’s 50-day simple moving average is $110.78 and its 200-day simple moving average is $117.38.

Abivax (NASDAQ:ABVX) last released its quarterly earnings data 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 company had revenue of $1.56 million for the quarter, compared to analyst estimates of $0.40 million. As a group, sell-side analysts forecast that Abivax will post -3.4 EPS for the current year.

Institutional Investors Weigh In On Abivax

Institutional investors and hedge funds have recently made changes to their positions in the stock. UBS Group AG boosted its position in shares of Abivax by 2,561.0% during the 3rd quarter. UBS Group AG now owns 4,461,262 shares of the company’s stock worth $378,761,000 after purchasing an additional 4,293,606 shares during the period. Darwin Global Management Ltd. purchased a new stake in Abivax in the third quarter valued at approximately $263,698,000. Morgan Stanley raised its position in Abivax by 114.3% in the fourth quarter. Morgan Stanley now owns 3,151,994 shares of the company’s stock valued at $425,062,000 after purchasing an additional 1,681,277 shares during the period. Paradigm Biocapital Advisors LP acquired a new position in Abivax during the third quarter worth $132,800,000. Finally, TCG Crossover Management LLC lifted its stake in Abivax by 17.4% during the third quarter. TCG Crossover Management LLC now owns 7,111,596 shares of the company’s stock worth $603,774,000 after purchasing an additional 1,055,000 shares in the last quarter. 47.91% of the stock is owned by hedge funds and other institutional investors.

About Abivax

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.