Shares of Abivax SA Sponsored ADR (NASDAQ:ABVX – Get Free Report) gapped up before the market opened on Wednesday after Citizens Jmp raised their price target on the stock from $131.00 to $187.00. The stock had previously closed at $72.50, but opened at $81.26. Citizens Jmp currently has a market outperform rating on the stock. Abivax shares last traded at $82.01, with a volume of 2,267,241 shares changing hands.
ABVX has been the subject of several other reports. Barclays lifted their price target on Abivax from $142.00 to $148.00 and gave the company an “overweight” rating in a research report on Tuesday, March 24th. Wedbush upgraded Abivax from an “underperform” rating to a “neutral” rating and reduced their price target for the company from $110.00 to $90.00 in a research report on Tuesday. Citigroup reiterated an “outperform” rating on shares of Abivax in a research report on Tuesday. BTIG Research reiterated a “buy” rating and set a $150.00 price target on shares of Abivax in a research report on Tuesday. Finally, Wall Street Zen raised Abivax from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $133.15.
Read Our Latest Stock Report on Abivax
Trending Headlines about Abivax
- Positive Sentiment: Abivax announced that obefazimod met the main goal and key secondary endpoints in the ABTECT maintenance study for moderately to severely active ulcerative colitis, supporting the drug’s efficacy and potential commercial value. Article Title
- Positive Sentiment: Several analysts responded favorably to the clinical data, with JPM raising its price target, Wedbush upgrading the stock, and BTIG reaffirming a Buy rating, signaling that some on Wall Street still see significant upside. Article Title
- Neutral Sentiment: Abivax said the cancer cases observed in the trial were believed to be unrelated to treatment, but the market is still waiting for more detail on the risk profile and regulatory implications. Article Title
- Negative Sentiment: Despite the efficacy win, shares were hit hard after rare malignancy cases in the Phase 3 trial raised safety concerns and overshadowed the drug’s positive results. Article Title
- Negative Sentiment: Several reports noted the stock’s steep decline, arguing that the safety signal has undercut the prior takeover premium and pushed investors to reassess the drug’s risk/reward profile. Article Title
Institutional Trading of Abivax
Institutional investors have recently bought and sold shares of the business. GHP Investment Advisors Inc. grew 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. EverSource Wealth Advisors LLC grew its holdings in Abivax by 4,612.5% in the third quarter. EverSource Wealth Advisors LLC now owns 377 shares of the company’s stock valued at $32,000 after purchasing an additional 369 shares during the period. Bank of America Corp DE grew its holdings in Abivax by 56.1% in the fourth quarter. Bank of America Corp DE now owns 5,536 shares of the company’s stock valued at $41,000 after purchasing an additional 1,990 shares during the period. Hantz Financial Services Inc. acquired a new stake in shares of Abivax in the third quarter worth approximately $52,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of Abivax by 661.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 396 shares of the company’s stock worth $53,000 after acquiring an additional 344 shares during the last quarter. 47.91% of the stock is owned by institutional investors and hedge funds.
Abivax Price Performance
The stock has a 50 day moving average price of $118.57 and a 200-day moving average price of $120.16. The stock has a market capitalization of $6.54 billion, a price-to-earnings ratio of -15.74 and a beta of 0.69.
Abivax (NASDAQ:ABVX – Get Free Report) last issued its quarterly earnings results on Friday, May 22nd. The company reported ($0.71) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.23. The firm had revenue of $1.56 million during the quarter, compared to analyst estimates of $0.40 million. As a group, research analysts forecast that Abivax SA Sponsored ADR will post -3.27 earnings per share for the current year.
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.
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