Citizens Jmp Issues Positive Forecast for Abivax (NASDAQ:ABVX) Stock Price

Abivax (NASDAQ:ABVX) had its price objective increased by Citizens Jmp from $114.00 to $131.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. Citizens Jmp’s price objective suggests a potential upside of 11.10% from the stock’s previous close.

Several other research firms have also commented on ABVX. Wall Street Zen lowered shares of Abivax from a “hold” rating to a “sell” rating in a research note on Saturday. BTIG Research increased their price objective on shares of Abivax from $112.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Citigroup reiterated an “outperform” rating on shares of Abivax in a report on Tuesday. Morgan Stanley increased their target price on Abivax from $71.00 to $101.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. Finally, Barclays initiated coverage on Abivax in a research report on Monday, October 13th. They set an “overweight” rating and a $142.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $123.73.

Abivax Price Performance

Shares of NASDAQ ABVX opened at $117.91 on Tuesday. Abivax has a 1-year low of $4.77 and a 1-year high of $138.49. The business’s 50 day moving average is $106.88 and its two-hundred day moving average is $69.34. The stock has a market capitalization of $9.19 billion, a P/E ratio of -68.16 and a beta of 0.48.

Abivax (NASDAQ:ABVX) last announced its earnings results on Monday, December 15th. The company reported ($2.46) EPS for the quarter. The firm had revenue of ($4.92) million during the quarter. As a group, equities research analysts anticipate that Abivax will post -2.83 earnings per share for the current fiscal year.

Institutional Trading of Abivax

Institutional investors and hedge funds have recently made changes to their positions in the company. TCG Crossover Management LLC lifted its stake in Abivax by 17.4% in the third quarter. TCG Crossover Management LLC now owns 7,111,596 shares of the company’s stock worth $603,774,000 after acquiring an additional 1,055,000 shares during the period. UBS Group AG raised its holdings in shares of Abivax by 2,561.0% in 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 in the last quarter. Darwin Global Management Ltd. bought a new stake in shares of Abivax in the 3rd quarter valued at about $263,698,000. ADAR1 Capital Management LLC lifted its position in shares of Abivax by 46.0% in the 1st quarter. ADAR1 Capital Management LLC now owns 2,210,019 shares of the company’s stock worth $13,813,000 after purchasing an additional 696,626 shares during the period. Finally, Paradigm Biocapital Advisors LP bought a new position in shares of Abivax during the third quarter valued at approximately $132,800,000. 47.91% of the stock is currently owned by institutional investors.

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.