Abivax SA Sponsored ADR (NASDAQ:ABVX) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Abivax SA Sponsored ADR has received a consensus rating of "Moderate Buy" from analysts, with one sell recommendation, eight buy recommendations, and one strong buy recommendation.
• Equity research analysts have set an average price target of $102.14 for Abivax, with JMP Securities increasing their target from $95.00 to $114.00.
• Institutional investors own 47.91% of Abivax's stock, with several firms significantly increasing their stakes in the company recently.

Abivax SA Sponsored ADR (NASDAQ:ABVX - Get Free Report) has received a consensus rating of "Moderate Buy" from the ten brokerages that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $102.1429.

Several equities research analysts recently issued reports on ABVX shares. JMP Securities increased their target price on Abivax from $95.00 to $114.00 and gave the stock a "market outperform" rating in a research report on Thursday, September 25th. Wall Street Zen raised Abivax from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Piper Sandler increased their target price on Abivax from $70.00 to $112.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Leerink Partners set a $74.00 target price on Abivax and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Finally, Lifesci Capital increased their target price on Abivax from $45.00 to $101.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. ADAR1 Capital Management LLC boosted its stake in Abivax by 46.0% during the first quarter. ADAR1 Capital Management LLC now owns 2,210,019 shares of the company's stock valued at $13,813,000 after buying an additional 696,626 shares in the last quarter. Nantahala Capital Management LLC boosted its stake in Abivax by 3.3% during the first quarter. Nantahala Capital Management LLC now owns 1,482,994 shares of the company's stock valued at $9,269,000 after buying an additional 46,947 shares in the last quarter. Octagon Capital Advisors LP boosted its stake in Abivax by 3.0% during the second quarter. Octagon Capital Advisors LP now owns 1,267,000 shares of the company's stock valued at $9,693,000 after buying an additional 37,000 shares in the last quarter. Allostery Investments LP boosted its stake 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 in the last quarter. Finally, Millennium Management LLC boosted its stake in Abivax by 6.0% during the first quarter. Millennium Management LLC now owns 987,414 shares of the company's stock valued at $6,171,000 after buying an additional 56,235 shares in the last quarter. Institutional investors own 47.91% of the company's stock.

Abivax Trading Up 1.3%

Shares of NASDAQ:ABVX opened at $83.92 on Monday. Abivax has a 1 year low of $4.77 and a 1 year high of $92.91. The stock has a 50-day simple moving average of $78.33 and a 200-day simple moving average of $33.17.

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

Abivax Company Profile

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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