Abivax (NASDAQ:ABVX) Stock Price Expected to Rise, Morgan Stanley Analyst Says

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 - Free Report) had its price target increased by Morgan Stanley from $71.00 to $101.00 in a research report sent to investors on Friday, MarketBeat reports. Morgan Stanley currently has an overweight rating on the stock.

A number of other equities analysts have also recently commented on ABVX. JMP Securities lifted their target price on Abivax from $33.00 to $95.00 and gave the stock a "market outperform" rating in a report on Wednesday, July 23rd. Citigroup reiterated a "market outperform" rating on shares of Abivax in a report on Friday, July 18th. BTIG Research reiterated a "buy" rating and issued a $112.00 target price on shares of Abivax in a report on Tuesday, September 9th. Leerink Partners set a $74.00 target price on Abivax and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Finally, Lifesci Capital boosted their price objective on Abivax from $45.00 to $101.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $99.43.

Abivax Stock Down 0.7%

NASDAQ ABVX traded down $0.61 during trading on Friday, hitting $81.67. 357,472 shares of the stock traded hands, compared to its average volume of 693,874. The firm has a 50-day simple moving average of $62.77 and a 200-day simple moving average of $26.14. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.77 and a current ratio of 0.77. Abivax has a 12-month low of $4.77 and a 12-month high of $92.91.

Abivax (NASDAQ:ABVX - Get Free Report) last released its quarterly earnings results on Monday, September 8th. The company reported ($0.86) earnings per share for the quarter, beating the consensus estimate of ($0.90) by $0.04. Research analysts predict that Abivax will post -2.83 EPS for the current year.

Institutional Investors Weigh In On Abivax

A number of institutional investors and hedge funds have recently bought and sold shares of ABVX. Bank of America Corp DE raised its position in Abivax by 56.1% during the 4th quarter. Bank of America Corp DE now owns 5,536 shares of the company's stock valued at $41,000 after purchasing an additional 1,990 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in Abivax by 34.3% during the 1st quarter. Cubist Systematic Strategies LLC now owns 10,152 shares of the company's stock valued at $63,000 after purchasing an additional 2,595 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in Abivax during the 4th quarter valued at $85,000. Stonepine Capital Management LLC bought a new stake in Abivax during the 4th quarter valued at $110,000. Finally, GAMMA Investing LLC raised its position in Abivax by 373.6% during the 1st quarter. GAMMA Investing LLC now owns 18,831 shares of the company's stock valued at $118,000 after purchasing an additional 14,855 shares in the last quarter. 47.91% of the stock is owned by institutional investors.

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.