Abivax (NASDAQ:ABVX) Stock Price Expected to Rise, JMP Securities Analyst Says

Key Points

• JMP Securities has increased its target price for Abivax from $95.00 to $114.00, suggesting a potential upside of 38.10% from its current price, while maintaining a "market outperform" rating.
• Abivax recently reported an EPS of ($0.86), exceeding analysts' estimates of ($0.90), and is currently projected to post -2.83 EPS for the year.
• Several institutional investors have recently increased their stakes in Abivax, with a notable 56.1% boost in holdings by Bank of America Corp DE during the fourth quarter.

Abivax (NASDAQ:ABVX - Get Free Report) had its target price upped by JMP Securities from $95.00 to $114.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "market outperform" rating on the stock. JMP Securities' price target would indicate a potential upside of 38.10% from the company's current price.

Several other brokerages have also recently commented on ABVX. Wall Street Zen raised Abivax from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Morgan Stanley upped their price objective on Abivax from $71.00 to $101.00 and gave the stock an "overweight" rating in a report on Friday, September 12th. BTIG Research restated a "buy" rating and issued a $112.00 price objective on shares of Abivax in a research report on Tuesday, September 9th. Leerink Partners set a $74.00 price objective on shares of Abivax and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. Finally, Guggenheim raised their price objective on shares of Abivax from $50.00 to $101.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. According to MarketBeat, Abivax has an average rating of "Buy" and a consensus price target of $102.14.

Abivax Trading Up 0.6%

Shares of NASDAQ ABVX opened at $82.55 on Thursday. Abivax has a 1-year low of $4.77 and a 1-year high of $92.91. The business has a 50-day moving average of $71.59 and a 200-day moving average of $29.09. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.29.

Abivax (NASDAQ:ABVX - Get Free Report) last released its earnings results on Monday, September 8th. The company reported ($0.86) EPS for the quarter, topping analysts' consensus estimates of ($0.90) by $0.04. As a group, equities analysts anticipate that Abivax will post -2.83 EPS for the current year.

Institutional Investors Weigh In On Abivax

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its holdings in Abivax by 56.1% in the 4th quarter. Bank of America Corp DE now owns 5,536 shares of the company's stock worth $41,000 after buying an additional 1,990 shares during the period. Cubist Systematic Strategies LLC increased its position in shares of Abivax by 34.3% in the first quarter. Cubist Systematic Strategies LLC now owns 10,152 shares of the company's stock valued at $63,000 after acquiring an additional 2,595 shares during the period. Ameriprise Financial Inc. purchased a new position in shares of Abivax during the fourth quarter valued at about $85,000. XTX Topco Ltd purchased a new position in shares of Abivax during the second quarter valued at about $139,000. Finally, GAMMA Investing LLC grew its holdings in Abivax by 373.6% in the first quarter. GAMMA Investing LLC now owns 18,831 shares of the company's stock worth $118,000 after purchasing an additional 14,855 shares during the period. Hedge funds and other institutional investors own 47.91% of the company's stock.

About Abivax

ABIVAX Société Anonyme, a clinical-stage biotechnology company, focuses on developing therapeutics that harness the body's natural regulatory mechanisms to stablize the immune response in patients with chronic inflammatory diseases. The company is evaluating its lead drug candidate, obefazimod, in Phase 3 clinical trials for the treatment of moderately to severely active ulcerative colitis in adults.

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