Abivax SA Sponsored ADR (NASDAQ:ABVX) Receives $78.75 Average PT from Analysts

Abivax SA Sponsored ADR (NASDAQ:ABVX) has earned an average rating of “Buy” from the eight analysts that are currently covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $92.33.

A number of brokerages have recently issued reports on ABVX. Morgan Stanley upgraded shares of Abivax from an “equal weight” rating to an “overweight” rating and set a $71.00 price objective for the company in a research note 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 research report on Wednesday, July 23rd. Piper Sandler increased their target price on shares of Abivax from $70.00 to $112.00 and gave the stock an “overweight” rating in a research report on Tuesday. Lifesci Capital increased their target price on shares of Abivax from $45.00 to $101.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 23rd. Finally, JMP Securities increased their target price on shares of Abivax from $33.00 to $95.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 23rd.

Institutional Investors Weigh In On Abivax

Hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its holdings in Abivax by 56.1% during the 4th quarter. Bank of America Corp DE now owns 5,536 shares of the company’s stock worth $41,000 after acquiring an additional 1,990 shares during the last quarter. Cubist Systematic Strategies LLC grew its holdings in Abivax by 34.3% during the 1st quarter. Cubist Systematic Strategies LLC now owns 10,152 shares of the company’s stock worth $63,000 after acquiring an additional 2,595 shares during the last quarter. Ameriprise Financial Inc. bought a new stake in Abivax during the 4th quarter worth about $85,000. Guggenheim Capital LLC bought a new stake in Abivax during the 4th quarter worth about $92,000. Finally, Stonepine Capital Management LLC bought a new stake in Abivax during the 4th quarter worth about $110,000. Institutional investors own 47.91% of the company’s stock.

Abivax Stock Performance

Shares of ABVX stock opened at $69.80 on Wednesday. Abivax has a 52-week low of $4.77 and a 52-week high of $72.90. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a fifty day moving average of $13.52 and a 200-day moving average of $8.97.

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.