BTIG Research Reaffirms "Buy" Rating for Abivax (NASDAQ:ABVX)

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 restated by equities research analysts at BTIG Research in a report issued on Tuesday,Benzinga reports. They presently have a $112.00 target price on the stock. BTIG Research's price target would indicate a potential upside of 24.44% from the company's current price.

Several other analysts have also recently issued reports on ABVX. Morgan Stanley raised shares of Abivax from an "equal weight" rating to an "overweight" rating and set a $71.00 price target on the stock in a research report on Wednesday, July 23rd. Guggenheim lifted their price objective on Abivax from $50.00 to $101.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Piper Sandler boosted their target price on Abivax from $70.00 to $112.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. JMP Securities upped their target price on Abivax from $33.00 to $95.00 and gave the company a "market 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. One investment analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company's stock. According to MarketBeat, Abivax currently has an average rating of "Buy" and an average target price of $95.14.

Abivax Price Performance

Shares of Abivax stock opened at $90.00 on Tuesday. Abivax has a 52 week low of $4.77 and a 52 week high of $92.91. The company has a 50 day moving average price of $53.42 and a 200 day moving average price of $22.99. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.29.

Institutional Investors Weigh In On Abivax

A number of institutional investors have recently made changes to their positions in ABVX. Bank of America Corp DE boosted its position in shares of Abivax by 56.1% during the fourth quarter. Bank of America Corp DE now owns 5,536 shares of the company's stock worth $41,000 after buying an additional 1,990 shares during the period. HighVista Strategies LLC grew its position in shares of Abivax by 4.3% in the second quarter. HighVista Strategies LLC now owns 51,156 shares of the company's stock valued at $391,000 after purchasing an additional 2,092 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in Abivax by 34.3% during the first quarter. Cubist Systematic Strategies LLC now owns 10,152 shares of the company's stock worth $63,000 after buying an additional 2,595 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Abivax by 47.5% in the 4th quarter. BNP Paribas Financial Markets now owns 19,244 shares of the company's stock valued at $141,000 after purchasing an additional 6,200 shares in the last quarter. Finally, Ameriprise Financial Inc. acquired a new stake in shares of Abivax in the 4th quarter valued at $85,000. 47.91% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.