Abivax (NASDAQ:ABVX) Earns Buy Rating from Guggenheim

Abivax (NASDAQ:ABVX)‘s stock had its “buy” rating reiterated by investment analysts at Guggenheim in a note issued to investors on Tuesday, Benzinga reports. They currently have a $175.00 price target on the stock. Guggenheim‘s target price indicates a potential upside of 89.01% from the company’s previous close.

A number of other brokerages have also recently commented on ABVX. The Goldman Sachs Group assumed coverage on shares of Abivax in a report on Wednesday, September 9th. They set a “buy” rating and a $155.00 target price for the company. Jefferies Financial Group upgraded shares of Abivax from a “hold” rating to a “buy” rating and upped their price target for the stock from $108.00 to $158.00 in a research report on Tuesday, June 30th. Piper Sandler upped their price target 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 reiterated an “overweight” rating and issued a $180.00 price target on shares of Abivax in a research report on Friday, July 24th. Finally, Wall Street Zen downgraded shares of Abivax from a “hold” rating to a “sell” rating in a report on Saturday, September 26th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $156.69.

Abivax Trading Up 5.8%

ABVX stock traded up $5.10 during midday trading on Tuesday, reaching $92.59. 1,604,434 shares of the company’s stock traded hands, compared to its average volume of 1,429,569. Abivax has a 52-week low of $69.81 and a 52-week high of $148.83. The stock has a market cap of $8.10 billion, a P/E ratio of -15.28 and a beta of 1.14. The stock’s 50-day moving average is $105.79 and its 200 day moving average is $114.49.

Abivax (NASDAQ:ABVX) last announced its earnings results on Monday, September 21st. The company reported ($1.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.79). The business had revenue of $1.37 million for the quarter, compared to analyst estimates of $0.80 million. As a group, research analysts expect that Abivax will post -4.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Abivax

A number of institutional investors have recently added to or reduced their stakes in ABVX. Prime Capital Investment Advisors LLC bought a new position in Abivax during the third quarter valued at approximately $268,000. Vontobel Holding Ltd. grew its holdings in Abivax by 20.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 4,167 shares of the company’s stock valued at $413,000 after buying an additional 719 shares in the last quarter. Goldstein Advisors LLC grew its holdings in Abivax by 49.6% during the 3rd quarter. Goldstein Advisors LLC now owns 2,390 shares of the company’s stock valued at $237,000 after buying an additional 792 shares in the last quarter. Sax Wealth Advisors LLC bought a new stake in Abivax in the 3rd quarter worth approximately $642,000. Finally, Avior Wealth Management LLC raised its holdings in shares of Abivax by 17.9% during the 3rd quarter. Avior Wealth Management LLC now owns 3,581 shares of the company’s stock worth $355,000 after acquiring an additional 544 shares in the last quarter. 47.91% of the stock is owned by hedge funds and other institutional investors.

About Abivax

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.