Abivax (NASDAQ:ABVX) Receives Buy Rating from BTIG Research

Key Points

• BTIG Research has reaffirmed a "Buy" rating for Abivax (NASDAQ:ABVX) with a price target of $112.00, indicating a potential upside of 24.44%.
• Several analysts, including Morgan Stanley and Guggenheim, have recently upgraded their ratings and price targets for Abivax, with an average target price now at $95.14.
• Abivax is a clinical-stage biotechnology company currently developing its lead drug candidate, obefazimod, for treating moderately to severely active ulcerative colitis in adults.

Abivax (NASDAQ:ABVX - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at BTIG Research in a report issued on Tuesday,Benzinga reports. They currently have a $112.00 price target on the stock. BTIG Research's target price points to a potential upside of 33.32% from the company's previous close.

Several other equities analysts have also recently commented on the stock. Morgan Stanley upgraded shares of Abivax from an "equal weight" rating to an "overweight" rating and set a $71.00 target price for the company in a research note on Wednesday, July 23rd. JMP Securities upped their target price 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. Piper Sandler upped their target price on shares of Abivax from $70.00 to $112.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Lifesci Capital upped their target price on shares of Abivax from $45.00 to $101.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Finally, Guggenheim upped their target price on shares of Abivax from $50.00 to $101.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, Abivax currently has an average rating of "Buy" and a consensus price target of $99.43.

Abivax Price Performance

Shares of NASDAQ ABVX traded down $1.95 during trading hours on Tuesday, hitting $84.01. 1,042,052 shares of the stock were exchanged, compared to its average volume of 1,128,079. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.77 and a quick ratio of 1.25. The company's 50 day moving average is $59.72 and its 200 day moving average is $25.08. 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) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.04. On average, equities research analysts anticipate that Abivax will post -2.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Abivax

A number of hedge funds have recently made changes to their positions in ABVX. Bank of America Corp DE raised its stake in shares of Abivax by 56.1% in the 4th quarter. Bank of America Corp DE now owns 5,536 shares of the company's stock valued at $41,000 after buying an additional 1,990 shares in the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of Abivax by 34.3% in the 1st quarter. Cubist Systematic Strategies LLC now owns 10,152 shares of the company's stock valued at $63,000 after buying an additional 2,595 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in shares of Abivax in the 4th quarter worth about $85,000. Stonepine Capital Management LLC bought a new stake in shares of Abivax in the 4th quarter worth about $110,000. Finally, GAMMA Investing LLC grew its holdings in shares of Abivax by 373.6% in the 1st 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 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.