BTIG Research Reiterates “Buy” Rating for Abivax (NASDAQ:ABVX)

Abivax (NASDAQ:ABVX)‘s stock had its “buy” rating reiterated by equities research analysts at BTIG Research in a report released on Tuesday,Benzinga reports. They currently have a $150.00 target price on the stock. BTIG Research’s price target suggests a potential upside of 52.66% from the stock’s previous close.

ABVX has been the topic of several other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Abivax in a research note on Monday, April 20th. Oddo Bhf restated an “outperform” rating on shares of Abivax in a research note on Thursday, April 9th. Citizens Jmp boosted their target price on Abivax from $131.00 to $187.00 and gave the company a “market outperform” rating in a research note on Tuesday, June 2nd. Wall Street Zen upgraded Abivax from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. Finally, Truist Financial lowered their target price on Abivax from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, June 2nd. Twelve analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.08.

Abivax Stock Up 1.8%

ABVX stock opened at $98.26 on Tuesday. Abivax has a twelve month low of $5.69 and a twelve month high of $148.83. The stock’s 50 day moving average is $115.61 and its 200-day moving average is $118.86. The firm has a market capitalization of $7.84 billion, a PE ratio of -18.86 and a beta of 0.69.

Abivax (NASDAQ:ABVX) last issued its quarterly earnings results on Friday, May 22nd. The company reported ($0.71) EPS for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.23. The business had revenue of $1.56 million for the quarter, compared to the consensus estimate of $0.40 million. On average, equities research analysts anticipate that Abivax will post -3.4 earnings per share for the current fiscal year.

Institutional Trading of Abivax

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. TCG Crossover Management LLC raised its stake in shares of Abivax by 17.4% during the 3rd quarter. TCG Crossover Management LLC now owns 7,111,596 shares of the company’s stock valued at $603,774,000 after purchasing an additional 1,055,000 shares during the period. UBS Group AG raised its stake in shares of Abivax by 2,561.0% during the 3rd quarter. UBS Group AG now owns 4,461,262 shares of the company’s stock valued at $378,761,000 after purchasing an additional 4,293,606 shares during the period. Darwin Global Management Ltd. raised 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 valued at $439,714,000 after purchasing an additional 14,000 shares during the period. Morgan Stanley raised its stake in shares of Abivax by 114.3% during the 4th quarter. Morgan Stanley now owns 3,151,994 shares of the company’s stock valued at $425,062,000 after purchasing an additional 1,681,277 shares during the period. Finally, Vestal Point Capital LP raised its stake in shares of Abivax by 90.0% during the 4th quarter. Vestal Point Capital LP now owns 1,900,000 shares of the company’s stock valued at $256,224,000 after purchasing an additional 900,000 shares during the period. 47.91% of the stock is currently owned by institutional investors.

About Abivax

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.