Abivax (NASDAQ:ABVX) Stock Price Expected to Rise, Leerink Partners Analyst Says

Abivax (NASDAQ:ABVX) had its price objective increased by stock analysts at Leerink Partners from $140.00 to $148.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Leerink Partners’ target price would suggest a potential upside of 11.17% from the company’s previous close.

A number of other brokerages also recently issued reports on ABVX. BTIG Research increased their price target on Abivax from $150.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday. Morgan Stanley cut their price objective on Abivax from $145.00 to $132.00 and set an “overweight” rating for the company in a research report on Tuesday, June 2nd. Citigroup reaffirmed an “outperform” rating on shares of Abivax in a research note on Tuesday, June 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Abivax in a research note on Monday, April 20th. Finally, Guggenheim reissued a “buy” rating on shares of Abivax in a report on Tuesday. Thirteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.23.

Abivax Trading Up 38.5%

Shares of Abivax stock traded up $36.98 during trading hours on Tuesday, reaching $133.13. The stock had a trading volume of 4,695,359 shares, compared to its average volume of 1,526,987. The stock’s 50 day moving average is $110.78 and its 200 day moving average is $117.38. The firm has a market capitalization of $10.62 billion, a PE ratio of -25.47 and a beta of 0.69. Abivax has a twelve month low of $7.41 and a twelve month high of $148.83.

Abivax (NASDAQ:ABVX) last posted its earnings results on Friday, May 22nd. The company reported ($0.71) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.94) by $0.23. The firm had revenue of $1.56 million for the quarter, compared to analysts’ expectations of $0.40 million. As a group, sell-side analysts predict that Abivax will post -3.4 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ABVX. GHP Investment Advisors Inc. boosted its stake in Abivax by 155.6% during the 1st quarter. GHP Investment Advisors Inc. now owns 230 shares of the company’s stock worth $26,000 after purchasing an additional 140 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Abivax by 4,612.5% in the third quarter. EverSource Wealth Advisors LLC now owns 377 shares of the company’s stock valued at $32,000 after buying an additional 369 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of Abivax by 661.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 396 shares of the company’s stock worth $53,000 after buying an additional 344 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in shares of Abivax in the fourth quarter worth about $61,000. Finally, WPG Advisers LLC boosted its position in Abivax by 125.9% during the fourth quarter. WPG Advisers LLC now owns 454 shares of the company’s stock worth $61,000 after acquiring an additional 253 shares during the last quarter. 47.91% of the stock is owned by institutional investors and hedge funds.

Abivax Company Profile

Founded in 2013 and headquartered in Paris, France, Abivax is a clinical-stage biopharmaceutical company focused on discovering and developing novel therapies for chronic inflammatory diseases and viral infections. The company’s technology platform targets host RNA biogenesis to modulate key immune pathways, offering a differentiated approach aimed at disease modification and improved safety profiles.

Abivax’s lead clinical asset, obefazimod (ABX464), is being evaluated in ulcerative colitis and other inflammatory disorders.