Abivax (NASDAQ:ABVX) Upgraded to “Buy” at Jefferies Financial Group

Abivax (NASDAQ:ABVX) was upgraded by investment analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a $158.00 price objective on the stock, up from their previous price objective of $108.00. Jefferies Financial Group’s price target suggests a potential upside of 18.53% from the company’s previous close.

A number of other research analysts also recently issued reports on ABVX. HC Wainwright restated a “buy” rating on shares of Abivax in a research report on Tuesday. Citizens Jmp boosted their price target on shares of Abivax from $131.00 to $187.00 and gave the stock a “market outperform” rating in a research note on Tuesday, June 2nd. Wall Street Zen upgraded shares of Abivax from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. BTIG Research increased their price objective on shares of Abivax from $150.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Wolfe Research set a $136.00 price objective on shares of Abivax in a research note on Wednesday, June 3rd. Fourteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $144.46.

Abivax Stock Up 38.6%

ABVX stock traded up $37.15 during trading on Tuesday, hitting $133.30. The company had a trading volume of 8,520,534 shares, compared to its average volume of 1,554,016. The firm has a 50-day moving average price of $110.78 and a 200-day moving average price of $117.38. Abivax has a 12 month low of $7.41 and a 12 month high of $148.83. The stock has a market cap of $10.63 billion, a price-to-earnings ratio of -25.58 and a beta of 0.69.

Abivax (NASDAQ:ABVX) last announced its quarterly earnings data on Friday, May 22nd. The company reported ($0.71) EPS for the quarter, beating analysts’ consensus estimates of ($0.94) by $0.23. The firm had revenue of $1.56 million during the quarter, compared to the consensus estimate of $0.40 million. Equities analysts expect that Abivax will post -3.4 EPS for the current year.

Institutional Investors Weigh In On Abivax

Hedge funds and other institutional investors have recently bought and sold shares of the company. TCG Crossover Management LLC lifted its stake in Abivax by 17.4% in the 3rd quarter. TCG Crossover Management LLC now owns 7,111,596 shares of the company’s stock valued at $603,774,000 after acquiring an additional 1,055,000 shares in the last quarter. UBS Group AG boosted its position in Abivax by 2,561.0% during the 3rd quarter. UBS Group AG now owns 4,461,262 shares of the company’s stock worth $378,761,000 after acquiring an additional 4,293,606 shares during the last quarter. Darwin Global Management Ltd. grew its stake in shares of Abivax by 0.4% during the 4th quarter. Darwin Global Management Ltd. now owns 3,178,501 shares of the company’s stock worth $439,714,000 after acquiring an additional 14,000 shares in the last quarter. Morgan Stanley lifted its position in Abivax by 114.3% during the 4th quarter. Morgan Stanley now owns 3,151,994 shares of the company’s stock worth $425,062,000 after buying an additional 1,681,277 shares in the last quarter. Finally, Vestal Point Capital LP lifted its position in Abivax by 90.0% during the 4th quarter. Vestal Point Capital LP now owns 1,900,000 shares of the company’s stock worth $256,224,000 after buying an additional 900,000 shares in the last quarter. Institutional investors and hedge funds own 47.91% of the company’s stock.

Key Stories Impacting Abivax

Here are the key news stories impacting Abivax this week:

• Positive Sentiment: Abivax reported positive ABTECT Maintenance Part 2 results for obefazimod, showing meaningful clinical benefit in refractory ulcerative colitis patients and strengthening the Phase 3 maintenance safety database. Article: Abivax Reports Positive ABTECT Maintenance Part 2 Results…
• Positive Sentiment: Updated clinical data eased safety concerns by showing malignancy rates were consistent with expected background levels, reducing a major overhang on the stock. Article: Abivax shares jump as updated trial data eases safety concerns
• Positive Sentiment: Analysts turned more constructive, with Leerink Partners raising its price target to $148 and keeping an outperform rating, signaling increased confidence in the pipeline and potential upside. Article: Leerink price target raise
• Neutral Sentiment: Wedbush also raised its price target, but kept a neutral rating, reflecting some lingering caution despite the improved data. Article: Wedbush price target raise

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.