Abivax SA Sponsored ADR (NASDAQ:ABVX) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Shares of Abivax SA Sponsored ADR (NASDAQ:ABVX) have been assigned an average recommendation of “Moderate Buy” from the sixteen ratings firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $156.69.

ABVX has been the topic of several analyst reports. Wall Street Zen lowered shares of Abivax from a “hold” rating to a “sell” rating in a report on Saturday. Guggenheim reiterated a “buy” rating on shares of Abivax in a report on Tuesday, June 30th. Truist Financial lowered their price objective on Abivax from $155.00 to $151.00 and set a “buy” rating for the company in a research report on Tuesday, September 22nd. Leerink Partners boosted their target price on Abivax from $140.00 to $148.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 30th. Finally, Wolfe Research set a $136.00 target price on Abivax in a research report on Wednesday, June 3rd.

Hedge Funds Weigh In On Abivax

Hedge funds have recently modified their holdings of the stock. GHP Investment Advisors Inc. grew its holdings in shares of Abivax by 155.6% during the first quarter. GHP Investment Advisors Inc. now owns 230 shares of the company’s stock valued at $26,000 after buying an additional 140 shares during the last quarter. Versant Capital Management Inc purchased a new position in Abivax in the 2nd quarter worth $30,000. Assetmark Inc. lifted its position in Abivax by 41.5% during the 1st quarter. Assetmark Inc. now owns 886 shares of the company’s stock worth $99,000 after acquiring an additional 260 shares during the period. SmartHarvest Portfolios LLC grew its stake in Abivax by 11.6% during the 1st quarter. SmartHarvest Portfolios LLC now owns 2,696 shares of the company’s stock valued at $300,000 after purchasing an additional 280 shares during the last quarter. Finally, Personal CFO Solutions LLC grew its stake in Abivax by 10.5% during the 1st quarter. Personal CFO Solutions LLC now owns 3,027 shares of the company’s stock valued at $337,000 after purchasing an additional 288 shares during the last quarter. Institutional investors and hedge funds own 47.91% of the company’s stock.

Abivax Price Performance

Shares of NASDAQ ABVX opened at $91.06 on Monday. The stock has a market capitalization of $7.95 billion, a P/E ratio of -15.03 and a beta of 0.96. Abivax has a 1-year low of $69.81 and a 1-year high of $148.83. The business has a fifty day moving average price of $117.40 and a 200 day moving average price of $117.18.

Abivax (NASDAQ:ABVX) last posted its earnings results on Monday, September 21st. The company reported ($1.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.79). The business had revenue of $1.37 million during the quarter, compared to the consensus estimate of $0.80 million. As a group, equities research analysts anticipate that Abivax will post -4.18 earnings per share for the current fiscal year.

Abivax Company Profile

Abivax is a clinical-stage biotechnology company headquartered in Paris, France, focused on developing oral therapies for chronic inflammatory and immune-mediated diseases. Its lead investigational product is obefazimod, an oral small-molecule therapy designed to enhance the production of microRNA-124, a regulator of inflammatory pathways.

Obefazimod is being developed primarily for ulcerative colitis, a chronic inflammatory disease of the colon, and has also been evaluated in Crohn’s disease.