Abivax SA Sponsored ADR (NASDAQ:ABVX) Stock Has Average Price Target of $156.69

Shares of Abivax SA Sponsored ADR (NASDAQ:ABVX) have earned a consensus recommendation of “Moderate Buy” from the sixteen research firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, thirteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $156.69.

ABVX has been the subject of a number of research reports. Morgan Stanley reiterated an “overweight” rating and issued a $180.00 price objective on shares of Abivax in a report on Friday, July 24th. Leerink Partners lifted their target price on shares of Abivax from $140.00 to $148.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 30th. Truist Financial reduced their target price on shares of Abivax from $155.00 to $151.00 and set a “buy” rating on the stock in a report on Tuesday, September 22nd. Jefferies Financial Group raised shares of Abivax from a “hold” rating to a “buy” rating and boosted their target price for the stock from $108.00 to $158.00 in a report on Tuesday, June 30th. Finally, Citizens Jmp restated a “market outperform” rating and issued a $187.00 price target on shares of Abivax in a research report on Wednesday, July 1st.

Abivax Stock Performance

Abivax stock opened at $88.13 on Friday. The company has a market capitalization of $7.71 billion, a PE ratio of -14.54 and a beta of 1.14. Abivax has a 12 month low of $69.81 and a 12 month high of $148.83. The stock has a 50-day moving average price of $106.59 and a two-hundred day moving average price of $114.65.

Abivax (NASDAQ:ABVX) last announced its quarterly earnings results on Monday, September 21st. The company reported ($1.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.79). The firm had revenue of $1.37 million during the quarter, compared to analysts’ expectations of $0.80 million. As a group, analysts predict that Abivax will post -4.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Abivax

A number of hedge funds have recently modified their holdings of the business. Versant Capital Management Inc bought a new stake in shares of Abivax in the second quarter worth $30,000. GHP Investment Advisors Inc. increased its holdings in Abivax by 155.6% in the first quarter. GHP Investment Advisors Inc. now owns 230 shares of the company’s stock valued at $26,000 after purchasing an additional 140 shares during the period. Assetmark Inc. raised its position in Abivax by 41.5% during the 1st quarter. Assetmark Inc. now owns 886 shares of the company’s stock worth $99,000 after purchasing an additional 260 shares during the last quarter. Troluce Capital Advisors LLC bought a new position in Abivax during the 2nd quarter worth $133,000. Finally, Pinnacle Wealth Management Advisory Group LLC bought a new position in Abivax during the 1st quarter worth $208,000. Institutional investors and hedge funds own 47.91% of the company’s stock.

Abivax Company Profile

Abivax is a clinical-stage biotechnology company focused on developing therapeutics for chronic inflammatory and immune-mediated diseases. The company’s lead investigational product is obefazimod, an oral small-molecule treatment being developed for ulcerative colitis, a chronic inflammatory disease of the colon.

Obefazimod, formerly known as ABX464, is designed to increase levels of microRNA-124, a molecule involved in regulating inflammatory responses. Abivax is evaluating the therapy in late-stage clinical studies for ulcerative colitis and has also investigated its potential in other inflammatory conditions, including Crohn’s disease.

Founded in 2013 and headquartered in Paris, France, Abivax conducts its development activities through international clinical programs and serves the global biopharmaceutical market.