Abivax SA Sponsored ADR (NASDAQ:ABVX) Stock Now Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Abivax received a “Moderate Buy” consensus rating from 16 analysts, with 13 buy ratings and one strong-buy rating. The average 12-month price target is $156.69, although targets and ratings varied among brokerages.
• ABVX shares opened at $92.38 and recently traded 5% higher, while remaining below their 50-day and 200-day moving averages. The stock has a market capitalization of approximately $8.09 billion and a one-year range of $69.81 to $148.83.
• The clinical-stage biotech missed quarterly EPS expectations, reporting a loss of $1.71 per share versus the expected $0.92 loss, despite revenue of $1.37 million exceeding estimates. Institutional investors and hedge funds own 47.91% of the stock, with the company’s lead drug candidate, obefazimod, in late-stage development for ulcerative colitis.

Abivax SA Sponsored ADR (NASDAQ:ABVX - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the sixteen brokerages that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, thirteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $156.69.

A number of brokerages have recently issued reports on ABVX. Piper Sandler raised their price objective on Abivax from $165.00 to $175.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. The Goldman Sachs Group began coverage on Abivax in a report on Wednesday, September 9th. They issued a "buy" rating and a $155.00 target price on the stock. BTIG Research upped their target price on Abivax from $150.00 to $175.00 and gave the company a "buy" rating in a report on Tuesday, June 30th. Wall Street Zen downgraded shares of Abivax from a "hold" rating to a "sell" rating in a research report on Saturday, September 26th. Finally, Truist Financial lowered their price target on shares of Abivax from $155.00 to $151.00 and set a "buy" rating for the company in a report on Tuesday, September 22nd.

Abivax Trading Up 5.0%

NASDAQ:ABVX opened at $92.38 on Friday. The stock's 50-day moving average is $107.44 and its 200-day moving average is $114.75. Abivax has a 1-year low of $69.81 and a 1-year high of $148.83. The stock has a market cap of $8.09 billion, a P/E ratio of -15.24 and a beta of 1.14.

Abivax (NASDAQ:ABVX - Get Free Report) last posted its quarterly earnings data on Monday, September 21st. The company reported ($1.71) earnings per share for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.79). The company had revenue of $1.37 million during the quarter, compared to analyst estimates of $0.80 million. As a group, equities analysts forecast that Abivax will post -4.18 EPS for the current year.

Institutional Investors Weigh In On Abivax

A number of large investors have recently bought and sold shares of ABVX. Goldstein Advisors LLC raised its holdings in shares of Abivax by 49.6% during the third quarter. Goldstein Advisors LLC now owns 2,390 shares of the company's stock valued at $237,000 after purchasing an additional 792 shares during the period. Sax Wealth Advisors LLC acquired a new position in Abivax during the 3rd quarter worth approximately $642,000. Avior Wealth Management LLC raised its stake in Abivax by 17.9% during the 3rd quarter. Avior Wealth Management LLC now owns 3,581 shares of the company's stock worth $355,000 after buying an additional 544 shares during the period. Vilga Financial Planning LLC bought a new position in Abivax in the third quarter worth approximately $2,178,000. Finally, Two Seas Capital LP acquired a new stake in Abivax in the third quarter valued at approximately $66,996,000. 47.91% of the stock is currently owned by institutional investors and hedge funds.

About Abivax

Abivax is a clinical-stage biotechnology company focused on developing therapeutics for chronic inflammatory and immune-mediated diseases. The company's lead investigational product is obefazimod, an oral small-molecule treatment being developed for ulcerative colitis, a chronic inflammatory disease of the colon.

Obefazimod, formerly known as ABX464, is designed to increase levels of microRNA-124, a molecule involved in regulating inflammatory responses. Abivax is evaluating the therapy in late-stage clinical studies for ulcerative colitis and has also investigated its potential in other inflammatory conditions, including Crohn's disease.

Founded in 2013 and headquartered in Paris, France, Abivax conducts its development activities through international clinical programs and serves the global biopharmaceutical market.

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