Abivax (NASDAQ:ABVX) Stock Rating Reaffirmed as Buy by Guggenheim

Abivax (NASDAQ:ABVX)‘s stock had its “buy” rating reissued by Guggenheim in a research report issued on Tuesday, Benzinga reports. They currently have a $175.00 price objective on the stock. Guggenheim‘s target price would suggest a potential upside of 86.96% from the stock’s current price.

Several other research firms also recently weighed in on ABVX. Barclays reiterated an “overweight” rating and set a $148.00 price target on shares of Abivax in a research note on Tuesday, September 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Abivax in a research note on Thursday, October 15th. Citizens Jmp reaffirmed a “market outperform” rating and set a $187.00 price objective on shares of Abivax in a report on Wednesday, July 1st. Wall Street Zen downgraded shares of Abivax from a “hold” rating to a “sell” rating in a report on Saturday, September 26th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $180.00 target price on shares of Abivax in a research report on Friday, July 24th. 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $155.00.

Abivax Price Performance

Shares of Abivax stock traded up $1.02 on Tuesday, reaching $93.61. 627,367 shares of the company traded hands, compared to its average volume of 1,425,523. The company has a 50 day moving average of $105.10 and a 200 day moving average of $114.33. Abivax has a 52 week low of $69.81 and a 52 week high of $148.83. The firm has a market capitalization of $8.19 billion, a PE ratio of -15.48 and a beta of 1.14.

Abivax (NASDAQ:ABVX) last posted its quarterly earnings data on Monday, September 21st. The company reported ($1.71) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.79). The company had revenue of $1.37 million during the quarter, compared to analyst estimates of $0.80 million. As a group, analysts anticipate that Abivax will post -4.04 earnings per share for the current year.

Hedge Funds Weigh In On Abivax

A number of large investors have recently made changes to their positions in the stock. 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 valued at $26,000 after purchasing an additional 140 shares during the period. Versant Capital Management Inc purchased a new position in shares of Abivax during the 2nd quarter valued at $30,000. Assetmark Inc. increased its holdings in shares of Abivax by 41.5% in the first quarter. Assetmark Inc. now owns 886 shares of the company’s stock worth $99,000 after purchasing an additional 260 shares during the period. Troluce Capital Advisors LLC bought a new position in shares of Abivax in the second quarter worth $133,000. Finally, Pinnacle Wealth Management Advisory Group LLC purchased a new stake in shares of Abivax in the first quarter worth $208,000. 47.91% of the stock is owned by institutional investors.

Abivax Company Profile

Abivax SA (NASDAQ: ABVX) is a clinical-stage biotechnology company focused on developing therapeutics for chronic inflammatory and immune-mediated diseases. Headquartered in Paris, France, the company conducts research and clinical development aimed at addressing conditions with significant unmet medical needs.

Abivax’s lead investigational product is obefazimod, an oral small-molecule therapy designed to selectively increase levels of microRNA-124, a regulatory molecule involved in controlling inflammatory responses.