Abivax (NASDAQ:ABVX) Earns Overweight Rating from Analysts at Barclays

Key Points

• Barclays initiated coverage of Abivax, giving it an "overweight" rating with a price target of $142.00, indicating a potential upside of 48.49% from its current price.
• Abivax has received a consensus rating of "Buy" from analysts, with a mix of "Strong Buy" and "Buy" ratings from several research firms, while one has issued a "Sell" rating.
• The company reported earnings per share of ($0.86) for the last quarter, exceeding expectations, and is expected to post -2.83 earnings per share for the current year.

Analysts at Barclays began coverage on shares of Abivax (NASDAQ:ABVX - Get Free Report) in a note issued to investors on Monday, MarketBeat reports. The firm set an "overweight" rating and a $142.00 price target on the stock. Barclays's price target indicates a potential upside of 48.49% from the stock's current price.

A number of other equities research analysts have also commented on the stock. Guggenheim raised their price objective on shares of Abivax from $101.00 to $150.00 and gave the stock a "buy" rating in a report on Friday. Citigroup restated an "outperform" rating on shares of Abivax in a report on Thursday, September 25th. Weiss Ratings restated a "sell (d-)" rating on shares of Abivax in a report on Wednesday, October 8th. Lifesci Capital raised their price objective on shares of Abivax from $45.00 to $101.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Finally, BTIG Research raised their price objective on shares of Abivax from $112.00 to $120.00 and gave the stock a "buy" rating in a report on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Abivax has a consensus rating of "Buy" and an average price target of $114.25.

Abivax Trading Up 2.0%

ABVX opened at $95.63 on Monday. The firm's fifty day moving average is $80.68 and its two-hundred day moving average is $36.65. Abivax has a twelve month low of $4.77 and a twelve month high of $97.83.

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

Institutional Trading of Abivax

A number of hedge funds have recently modified their holdings of ABVX. Octagon Capital Advisors LP acquired a new position in shares of Abivax in the 1st quarter valued at approximately $7,688,000. ADAR1 Capital Management LLC raised its holdings in shares of Abivax by 46.0% in the first quarter. ADAR1 Capital Management LLC now owns 2,210,019 shares of the company's stock valued at $13,813,000 after purchasing an additional 696,626 shares during the last quarter. Allostery Investments LP grew its position in Abivax by 86.0% during the first quarter. Allostery Investments LP now owns 1,099,654 shares of the company's stock valued at $6,873,000 after buying an additional 508,401 shares during the period. Boothbay Fund Management LLC boosted its position in Abivax by 52.5% during the second quarter. Boothbay Fund Management LLC now owns 870,438 shares of the company's stock worth $6,659,000 after purchasing an additional 299,770 shares during the period. Finally, Aberdeen Group plc lifted its holdings in shares of Abivax by 67.5% in the first quarter. Aberdeen Group plc now owns 710,516 shares of the company's stock worth $4,441,000 after buying an additional 286,335 shares in the last quarter. Institutional investors and hedge funds 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.