Abivax (NASDAQ:ABVX) Stock Price Expected to Rise, Piper Sandler Analyst Says

Abivax (NASDAQ:ABVX) had its target price boosted by Piper Sandler from $70.00 to $112.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 58.13% from the stock’s previous close.

ABVX has been the subject of a number of other reports. Leerink Partners set a $74.00 target price on shares of Abivax and gave the company an “outperform” rating in a report on Wednesday, July 23rd. Lifesci Capital upped their target price on shares of Abivax from $45.00 to $101.00 and gave the company an “outperform” rating in a report on Wednesday, July 23rd. Morgan Stanley raised shares of Abivax from an “equal weight” rating to an “overweight” rating and set a $71.00 target price for the company in a report on Wednesday, July 23rd. Citigroup reaffirmed a “market outperform” rating on shares of Abivax in a report on Friday, July 18th. Finally, Guggenheim upped their target price on shares of Abivax from $50.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Abivax presently has a consensus rating of “Buy” and an average price target of $92.33.

Abivax Price Performance

ABVX opened at $70.83 on Tuesday. Abivax has a twelve month low of $4.77 and a twelve month high of $72.90. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a 50 day moving average price of $14.82 and a 200-day moving average price of $9.40.

Institutional Trading of Abivax

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Woodline Partners LP increased its stake in shares of Abivax by 319.5% in the first quarter. Woodline Partners LP now owns 201,924 shares of the company’s stock worth $1,262,000 after purchasing an additional 153,788 shares in the last quarter. Octagon Capital Advisors LP purchased a new stake in shares of Abivax in the first quarter worth $7,688,000. Millennium Management LLC increased its stake in shares of Abivax by 6.0% in the first quarter. Millennium Management LLC now owns 987,414 shares of the company’s stock worth $6,171,000 after purchasing an additional 56,235 shares in the last quarter. Allostery Investments LP increased its stake in shares of Abivax by 86.0% in the first quarter. Allostery Investments LP now owns 1,099,654 shares of the company’s stock worth $6,873,000 after purchasing an additional 508,401 shares in the last quarter. Finally, ADAR1 Capital Management LLC increased its stake in shares of Abivax by 46.0% in the first quarter. ADAR1 Capital Management LLC now owns 2,210,019 shares of the company’s stock worth $13,813,000 after purchasing an additional 696,626 shares in the last quarter. 47.91% of the stock is owned by hedge funds and other institutional investors.

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.