Abivax (NASDAQ:ABVX - Free Report) had its price target upped by Piper Sandler from $42.00 to $70.00 in a report released on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.
A number of other equities research analysts have also issued reports on the company. Leerink Partners set a $74.00 price target on Abivax and gave the company an "outperform" rating in a research report on Wednesday. Morgan Stanley upgraded Abivax from an "equal weight" rating to an "overweight" rating and set a $71.00 price target for the company in a research report on Wednesday. Citigroup restated a "market outperform" rating on shares of Abivax in a research report on Friday, July 18th. Guggenheim upped their price target on Abivax from $50.00 to $101.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, JMP Securities upped their price target on Abivax from $33.00 to $95.00 and gave the company a "market outperform" rating in a research report on Wednesday. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $80.00.
Get Our Latest Analysis on Abivax
Abivax Price Performance
NASDAQ:ABVX traded down $3.27 during trading hours on Wednesday, hitting $66.49. 3,538,569 shares of the stock were exchanged, compared to its average volume of 2,638,802. Abivax has a 52-week low of $4.77 and a 52-week high of $72.90. The firm's fifty day moving average price is $11.03 and its 200 day moving average price is $8.11. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.25 and a quick ratio of 1.25.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its stake in 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 purchasing an additional 1,990 shares in the last quarter. Cubist Systematic Strategies LLC lifted its stake 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 purchasing an additional 2,595 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in Abivax during the fourth quarter worth $85,000. Guggenheim Capital LLC acquired a new position in Abivax during the fourth quarter worth $92,000. Finally, Stonepine Capital Management LLC acquired a new position in Abivax during the fourth quarter worth $110,000. 47.91% of the stock is currently owned by institutional investors and hedge funds.
About Abivax
(
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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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