Abivax (NASDAQ:ABVX) Earns Overweight Rating from Barclays

Abivax (NASDAQ:ABVX)‘s stock had its “overweight” rating restated by stock analysts at Barclays in a research report issued on Tuesday, Benzinga reports. They currently have a $148.00 price target on the stock. Barclays‘s price target suggests a potential upside of 56.00% from the company’s current price.

ABVX has been the topic of a number of other research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Abivax in a research note on Friday, July 17th. Jefferies Financial Group upgraded shares of Abivax from a “hold” rating to a “buy” rating and boosted their target price for the company from $108.00 to $158.00 in a report on Tuesday, June 30th. Morgan Stanley restated an “overweight” rating and issued a $180.00 target price on shares of Abivax in a report on Friday, July 24th. Citigroup reiterated an “outperform” rating on shares of Abivax in a report on Tuesday, June 2nd. Finally, Wolfe Research set a $136.00 price objective on shares of Abivax in a report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has issued 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 target price of $156.69.

Abivax Price Performance

Shares of NASDAQ:ABVX opened at $94.87 on Tuesday. The company’s 50 day simple moving average is $118.31 and its 200 day simple moving average is $117.31. The stock has a market capitalization of $8.29 billion, a price-to-earnings ratio of -15.66 and a beta of 0.96. Abivax has a 1 year low of $69.81 and a 1 year high of $148.83.

Abivax (NASDAQ:ABVX) last announced its quarterly earnings data on Monday, September 21st. The company reported ($1.71) earnings per share (EPS) 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 analyst estimates of $0.80 million. As a group, analysts anticipate that Abivax will post -4.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ABVX. Versant Capital Management Inc bought a new position in Abivax in the 2nd quarter worth approximately $30,000. GHP Investment Advisors Inc. boosted its holdings in Abivax by 155.6% in 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 during the period. Assetmark Inc. boosted its holdings in Abivax by 41.5% in the 1st quarter. Assetmark Inc. now owns 886 shares of the company’s stock worth $99,000 after buying an additional 260 shares during the period. Troluce Capital Advisors LLC bought a new position in Abivax in the 2nd quarter worth approximately $133,000. Finally, Clearstead Advisors LLC bought a new position in Abivax in the 4th quarter valued at $138,000. 47.91% of the stock is owned by institutional investors.

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.