Abivax’s (ABVX) Overweight Rating Reiterated at Barclays

Abivax (NASDAQ:ABVX)‘s stock had its “overweight” rating restated by research analysts at Barclays in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $148.00 target price on the stock. Barclays‘s target price would suggest a potential upside of 62.53% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the stock. Truist Financial increased their price objective on shares of Abivax from $135.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Piper Sandler increased their price objective on shares of Abivax from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Morgan Stanley reaffirmed an “overweight” rating and set a $180.00 price objective on shares of Abivax in a research report on Friday, July 24th. Citigroup reaffirmed an “outperform” rating on shares of Abivax in a research report on Tuesday, June 2nd. Finally, BTIG Research increased their price objective on shares of Abivax from $150.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Abivax has an average rating of “Moderate Buy” and an average target price of $156.69.

Abivax Price Performance

Shares of NASDAQ:ABVX traded down $3.81 during mid-day trading on Tuesday, reaching $91.06. 1,484,795 shares of the company were exchanged, compared to its average volume of 1,440,811. The firm has a market cap of $7.95 billion, a price-to-earnings ratio of -15.03 and a beta of 0.96. The firm’s 50-day simple moving average is $118.31 and its 200 day simple moving average is $117.31. Abivax has a 1 year low of $69.81 and a 1 year high of $148.83.

Abivax (NASDAQ:ABVX) last posted its quarterly earnings data on Monday, September 21st. The company reported ($1.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.79). The company had revenue of $1.37 million for the quarter, compared to analysts’ expectations of $0.80 million. On average, research analysts forecast that Abivax will post -4.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Abivax

A number of hedge funds have recently added to or reduced their stakes in ABVX. GHP Investment Advisors Inc. lifted its holdings 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 buying an additional 140 shares in the last quarter. Versant Capital Management Inc acquired a new stake in Abivax during the 2nd quarter worth approximately $30,000. Assetmark Inc. lifted its holdings in Abivax by 41.5% during the 1st quarter. Assetmark Inc. now owns 886 shares of the company’s stock worth $99,000 after buying an additional 260 shares in the last quarter. Troluce Capital Advisors LLC acquired a new stake in Abivax during the 2nd quarter worth approximately $133,000. Finally, Clearstead Advisors LLC acquired a new stake in Abivax during the 4th quarter worth approximately $138,000. 47.91% of the stock is currently owned by institutional investors and hedge funds.

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.