Abivax (NASDAQ:ABVX – Get Free Report)‘s stock had its “buy” rating restated by stock analysts at Guggenheim in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $175.00 price objective on the stock. Guggenheim’s price objective suggests a potential upside of 95.15% from the company’s previous close.
Several other research analysts also recently commented on ABVX. The Goldman Sachs Group initiated coverage on shares of Abivax in a research note on Wednesday, September 9th. They set a “buy” rating and a $155.00 price target on the stock. Truist Financial decreased their target price on shares of Abivax from $155.00 to $151.00 and set a “buy” rating on the stock in a research note on Tuesday, September 22nd. Jefferies Financial Group raised shares of Abivax from a “hold” rating to a “buy” rating and lifted their target price for the stock from $108.00 to $158.00 in a research note on Tuesday, June 30th. Morgan Stanley reaffirmed an “overweight” rating and issued a $180.00 target price on shares of Abivax in a research note on Friday, July 24th. Finally, Wedbush decreased their target price on shares of Abivax from $140.00 to $118.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 22nd. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $156.69.
Get Our Latest Stock Analysis on ABVX
Abivax Stock Performance
Abivax stock traded up $2.19 during mid-day trading on Tuesday, hitting $89.68. 198,310 shares of the company traded hands, compared to its average volume of 1,422,210. Abivax has a one year low of $69.81 and a one year high of $148.83. The stock has a market cap of $7.85 billion, a price-to-earnings ratio of -14.79 and a beta of 1.14. The stock has a fifty day moving average price of $105.79 and a 200-day moving average price of $114.49.
Abivax (NASDAQ:ABVX – Get Free Report) last announced its earnings results on Monday, September 21st. The company reported ($1.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.79). The business had revenue of $1.37 million for the quarter, compared to analyst estimates of $0.80 million. Sell-side analysts predict that Abivax will post -4.04 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in ABVX. Versant Capital Management Inc purchased a new position in Abivax during the 2nd quarter valued at $30,000. GHP Investment Advisors Inc. increased its position in Abivax by 155.6% during the 1st 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. increased its position in Abivax by 41.5% during the 1st quarter. Assetmark Inc. now owns 886 shares of the company’s stock valued at $99,000 after purchasing an additional 260 shares during the period. Troluce Capital Advisors LLC purchased a new position in Abivax during the 2nd quarter valued at $133,000. Finally, Pinnacle Wealth Management Advisory Group LLC purchased a new position in Abivax during the 1st quarter valued at $208,000. 47.91% of the stock is owned by hedge funds and other institutional investors.
About Abivax
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.
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