Guggenheim Reaffirms "Buy" Rating for Abivax (NASDAQ:ABVX)

Key Points

• Guggenheim reaffirmed its “Buy” rating on Abivax with a $175 price target, implying approximately 93.7% upside from the prior close. Analysts overall rate the stock “Moderate Buy,” with an average target of $156.69.
• Abivax shares rose 3.3% to $90.35, but remain below their 50-day and 200-day moving averages. The stock has traded between $69.81 and $148.83 over the past year.
• The company reported a quarterly loss of $1.71 per share, missing expectations of a $0.92 loss, while revenue of $1.37 million exceeded estimates. Institutional investors own approximately 47.9% of Abivax’s shares.

Abivax (NASDAQ:ABVX - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at Guggenheim in a report issued on Tuesday, Benzinga reports. They presently have a $175.00 price objective on the stock. Guggenheim's price target would suggest a potential upside of 93.70% from the company's previous close.

Other equities research analysts have also recently issued reports about the company. Morgan Stanley reissued an "overweight" rating and set a $180.00 price objective on shares of Abivax in a research note on Friday, July 24th. Weiss Ratings reissued a "sell (d-)" rating on shares of Abivax in a research note on Thursday. Wall Street Zen cut Abivax from a "hold" rating to a "sell" rating in a research note on Saturday, September 26th. Citizens Jmp reissued a "market outperform" rating and set a $187.00 price objective on shares of Abivax in a research note on Wednesday, July 1st. Finally, Truist Financial reduced their price objective on Abivax from $155.00 to $151.00 and set a "buy" rating on the stock in a research note on Tuesday, September 22nd. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $156.69.

Abivax Trading Up 3.3%

NASDAQ ABVX traded up $2.86 on Tuesday, hitting $90.35. 350,145 shares of the company traded hands, compared to its average volume of 1,422,257. The company has a market capitalization of $7.91 billion, a price-to-earnings ratio of -14.91 and a beta of 1.14. The business's 50 day moving average price is $105.79 and its 200-day moving average price is $114.49. Abivax has a 52-week low of $69.81 and a 52-week high of $148.83.

Abivax (NASDAQ:ABVX - Get Free Report) last announced its quarterly earnings data on Monday, September 21st. The company reported ($1.71) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.79). The firm had revenue of $1.37 million during the quarter, compared to analyst estimates of $0.80 million. As a group, sell-side analysts predict that Abivax will post -4.04 earnings per share for the current year.

Institutional Trading of Abivax

Several hedge funds and other institutional investors have recently bought and sold shares of ABVX. GHP Investment Advisors Inc. lifted its stake in Abivax by 155.6% in the 1st quarter. GHP Investment Advisors Inc. now owns 230 shares of the company's stock worth $26,000 after purchasing an additional 140 shares in the last quarter. Versant Capital Management Inc acquired a new position in shares of Abivax during the second quarter worth $30,000. Assetmark Inc. grew its stake in shares of Abivax by 41.5% during the first quarter. Assetmark Inc. now owns 886 shares of the company's stock worth $99,000 after purchasing an additional 260 shares in the last quarter. SmartHarvest Portfolios LLC grew its stake in shares of Abivax by 11.6% during the first quarter. SmartHarvest Portfolios LLC now owns 2,696 shares of the company's stock worth $300,000 after purchasing an additional 280 shares in the last quarter. Finally, Personal CFO Solutions LLC grew its stake in shares of Abivax by 10.5% during the first quarter. Personal CFO Solutions LLC now owns 3,027 shares of the company's stock worth $337,000 after purchasing an additional 288 shares in the last quarter. Institutional investors own 47.91% of the company's stock.

Abivax Company Profile

Abivax SA NASDAQ: ABVX is a clinical-stage biotechnology company focused on developing therapeutics for chronic inflammatory and immune-mediated diseases. Headquartered in Paris, France, the company conducts research and clinical development aimed at addressing conditions with significant unmet medical needs.

Abivax's lead investigational product is obefazimod, an oral small-molecule therapy designed to selectively increase levels of microRNA-124, a regulatory molecule involved in controlling inflammatory responses.