Abivax (NASDAQ:ABVX) Issues Quarterly Earnings Results, Misses Expectations By $0.70 EPS

by · The Cerbat Gem

Abivax (NASDAQ:ABVX – Get Free Report) released its earnings results on Monday. The company reported ($1.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.70), FiscalAI reports. The business had revenue of $1.37 million for the quarter, compared to the consensus estimate of $0.80 million.

Abivax Price Performance

Shares of Abivax stock traded down $1.59 on Monday, reaching $103.45. The company had a trading volume of 852,772 shares, compared to its average volume of 1,425,416. The firm’s 50-day moving average price is $121.41 and its two-hundred day moving average price is $117.72. The firm has a market cap of $9.03 billion, a price-to-earnings ratio of -19.86 and a beta of 0.96. Abivax has a 1 year low of $69.81 and a 1 year high of $148.83.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ABVX shares. Wedbush raised their price objective on shares of Abivax from $90.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, June 30th. Leerink Partners upped their target price on shares of Abivax from $140.00 to $148.00 and gave the stock an “outperform” rating in a report on Tuesday, June 30th. BTIG Research increased their price target on Abivax from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Wolfe Research set a $136.00 price target on Abivax in a report on Wednesday, June 3rd. Finally, Jefferies Financial Group raised Abivax from a “hold” rating to a “buy” rating and lifted their target price for the company from $108.00 to $158.00 in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Abivax has an average rating of “Moderate Buy” and a consensus price target of $156.38.

View Our Latest Analysis on Abivax

About Abivax

(Get Free Report)

Abivax is a clinical-stage biotechnology company headquartered in Paris, France, focused on developing oral therapies for chronic inflammatory and immune-mediated diseases. Its lead investigational product is obefazimod, an oral small-molecule therapy designed to enhance the production of microRNA-124, a regulator of inflammatory pathways.

Obefazimod is being developed primarily for ulcerative colitis, a chronic inflammatory disease of the colon, and has also been evaluated in Crohn’s disease.

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