Abivax SA Sponsored ADR (NASDAQ:ABVX) Given Average Rating of "Buy" by Brokerages

Key Points

• Abivax SA Sponsored ADR (NASDAQ:ABVX) has received an average rating of "Buy" from nine brokerages, with one analyst issuing a "strong buy" rating, suggesting positive sentiment among analysts.
• Recent brokerage reports have seen target price increases for ABVX, with Guggenheim raising it to $101.00 and Lifesci Capital also targeting $101.00.
• Shares of Abivax have fluctuated significantly, reaching a one-year high of $92.91 and currently showing a slight drop of 1.8% at $87.63.

Shares of Abivax SA Sponsored ADR (NASDAQ:ABVX - Get Free Report) have been given an average rating of "Buy" by the nine research firms that are covering the company, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $95.1429.

Several brokerages have recently weighed in on ABVX. Guggenheim boosted their target price on Abivax from $50.00 to $101.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Citigroup reaffirmed a "market outperform" rating on shares of Abivax in a research note on Friday, July 18th. Leerink Partners set a $74.00 price target on shares of Abivax and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. 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 research report on Wednesday, July 23rd. Finally, JMP Securities increased their price target on shares of Abivax from $33.00 to $95.00 and gave the company a "market outperform" rating in a research note on Wednesday, July 23rd.

Institutional Trading of Abivax

Several institutional investors and hedge funds have recently bought and sold shares of ABVX. Octagon Capital Advisors LP purchased a new position in Abivax during the first quarter worth about $7,688,000. ADAR1 Capital Management LLC increased its holdings in Abivax by 46.0% in the 1st 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 raised its position in Abivax by 86.0% in the first quarter. Allostery Investments LP now owns 1,099,654 shares of the company's stock valued at $6,873,000 after purchasing an additional 508,401 shares during the period. Citadel Advisors LLC raised its position in Abivax by 83.5% in the fourth quarter. Citadel Advisors LLC now owns 855,676 shares of the company's stock valued at $6,264,000 after purchasing an additional 389,247 shares during the period. Finally, Boothbay Fund Management LLC boosted its position in shares of 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 buying an additional 299,770 shares during the period. 47.91% of the stock is currently owned by hedge funds and other institutional investors.

Abivax Stock Down 1.8%

Shares of ABVX opened at $87.63 on Thursday. The stock has a 50 day moving average price of $56.64 and a 200 day moving average price of $23.89. The company has a current ratio of 0.77, a quick ratio of 1.25 and a debt-to-equity ratio of 1.29. Abivax has a one year low of $4.77 and a one year high of $92.91.

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

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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