Abivax’s (ABVX) Overweight Rating Reiterated at Barclays

by · The Markets Daily

Barclays reaffirmed their overweight rating on shares of Abivax (NASDAQ:ABVX – Free Report) in a research report report published on Tuesday,Benzinga reports. They currently have a $148.00 price objective on the stock.

Other research analysts have also recently issued reports about the company. Wedbush raised their target price on Abivax from $90.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 30th. Morgan Stanley reaffirmed an “overweight” rating and set a $180.00 price target on shares of Abivax in a research report on Friday, July 24th. Piper Sandler increased their price objective on shares of Abivax from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Jefferies Financial Group raised shares of Abivax from a “hold” rating to a “buy” rating and raised their price objective for the stock from $108.00 to $158.00 in a report on Tuesday, June 30th. Finally, Guggenheim restated a “buy” rating on shares of Abivax in a research report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $156.69.

Check Out Our Latest Stock Report on Abivax

Abivax Trading Up 0.8%

Shares of ABVX opened at $94.87 on Tuesday. The firm has a fifty day simple moving average of $118.31 and a two-hundred day simple moving average of $117.31. The firm has a market cap of $8.29 billion, a PE ratio of -15.66 and a beta of 0.96. Abivax has a 1-year low of $69.81 and a 1-year high of $148.83.

Abivax (NASDAQ:ABVX – Get Free Report) last released its quarterly earnings results on Monday, September 21st. The company reported ($1.71) earnings per share (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, research analysts forecast that Abivax will post -4.18 EPS for the current fiscal year.

Institutional Trading of Abivax

Several hedge funds have recently bought and sold shares of ABVX. Versant Capital Management Inc bought a new position in shares of Abivax in the second quarter worth about $30,000. GHP Investment Advisors Inc. grew its stake in shares of 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 acquiring an additional 140 shares during the period. Assetmark Inc. grew its stake in shares of Abivax by 41.5% during the 1st quarter. Assetmark Inc. now owns 886 shares of the company’s stock valued at $99,000 after acquiring an additional 260 shares during the period. Troluce Capital Advisors LLC purchased a new stake in Abivax in the 2nd quarter worth approximately $133,000. Finally, Clearstead Advisors LLC purchased a new stake in Abivax in the 4th quarter worth approximately $138,000. Institutional investors own 47.91% of the company’s stock.

Abivax Company Profile

(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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