Morgan Stanley Issues Positive Forecast for Abivax (NASDAQ:ABVX) Stock Price

Key Points

• Morgan Stanley has raised its target price for Abivax (NASDAQ:ABVX) from $71.00 to $101.00, signaling a potential upside of 21.85% from the stock's previous close.
• Several other analysts also issued positive ratings, with the average consensus price target for Abivax now at $99.43.
• Abivax recently reported an earnings per share of ($0.86), surpassing the consensus estimation of ($0.90).

Abivax (NASDAQ:ABVX - Get Free Report) had its target price upped by investment analysts at Morgan Stanley from $71.00 to $101.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Morgan Stanley's price objective would indicate a potential upside of 21.85% from the stock's previous close.

Other equities research analysts have also issued research reports about the stock. Citigroup restated a "market outperform" rating on shares of Abivax in a report on Friday, July 18th. BTIG Research restated a "buy" rating and issued a $112.00 target price on shares of Abivax in a report on Tuesday. Guggenheim upped their target price on shares of Abivax from $50.00 to $101.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Leerink Partners set a $74.00 target price on shares of Abivax and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Finally, Piper Sandler upped their target price on shares of Abivax from $70.00 to $112.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $99.43.

Abivax Stock Performance

Shares of ABVX stock traded down $3.07 on Friday, reaching $82.89. 518,513 shares of the company were exchanged, compared to its average volume of 691,383. The company has a 50-day moving average of $58.20 and a 200-day moving average of $24.43. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.77 and a quick ratio of 1.25. 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 quarterly earnings data on Monday, September 8th. The company reported ($0.86) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.90) by $0.04. As a group, equities analysts anticipate that Abivax will post -2.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Abivax

Large investors have recently modified their holdings of the stock. Bank of America Corp DE grew its stake in 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 grew its stake in 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. purchased a new position in Abivax in the 4th quarter valued at approximately $85,000. Stonepine Capital Management LLC purchased a new position in Abivax in the 4th quarter valued at approximately $110,000. Finally, XTX Topco Ltd purchased a new position in Abivax in the 2nd quarter valued at approximately $139,000. Hedge funds and other institutional investors own 47.91% of the company's stock.

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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