Abivax (NASDAQ:ABVX) Given “Overweight” Rating at Barclays

Abivax (NASDAQ:ABVX)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Barclays in a note issued to investors on Tuesday, Benzinga reports. They presently have a $148.00 target price on the stock. Barclays‘s price target suggests a potential upside of 59.41% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Piper Sandler increased their price target on Abivax from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Citizens Jmp reiterated a “market outperform” rating and set a $187.00 price target on shares of Abivax in a research report on Wednesday, July 1st. Wedbush increased their price target on Abivax from $90.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 30th. Morgan Stanley reiterated an “overweight” rating and set a $180.00 price target on shares of Abivax in a research report on Friday, July 24th. Finally, BTIG Research increased their price target on Abivax from $150.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $156.69.

Abivax Stock Down 2.1%

Shares of ABVX traded down $2.03 during mid-day trading on Tuesday, reaching $92.84. The company had a trading volume of 827,083 shares, compared to its average volume of 1,436,957. Abivax has a 52-week low of $69.81 and a 52-week high of $148.83. The stock has a market capitalization of $8.11 billion, a P/E ratio of -15.32 and a beta of 0.96. The stock has a 50 day moving average of $118.31 and a two-hundred day moving average of $117.31.

Abivax (NASDAQ:ABVX) last issued 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 firm had revenue of $1.37 million during the quarter, compared to analysts’ expectations of $0.80 million. On average, sell-side analysts expect that Abivax will post -4.18 earnings per share for the current year.

Institutional Investors Weigh In On Abivax

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Westfield Capital Management Co. LP acquired a new stake in shares of Abivax in the fourth quarter valued at approximately $136,199,000. Eversept Partners LP grew its stake in Abivax by 42.0% during the 1st quarter. Eversept Partners LP now owns 934,423 shares of the company’s stock worth $104,048,000 after purchasing an additional 276,589 shares in the last quarter. Janus Henderson Group PLC grew its stake in Abivax by 31.6% during the 1st quarter. Janus Henderson Group PLC now owns 878,829 shares of the company’s stock worth $98,007,000 after purchasing an additional 211,068 shares in the last quarter. Lord Abbett & CO. LLC lifted its holdings in Abivax by 152.4% during the 4th quarter. Lord Abbett & CO. LLC now owns 849,732 shares of the company’s stock worth $114,591,000 after buying an additional 513,026 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in Abivax by 40.9% during the 1st quarter. Bank of America Corp DE now owns 735,729 shares of the company’s stock worth $81,923,000 after buying an additional 213,440 shares during the last quarter. Institutional investors and hedge funds own 47.91% of the company’s stock.

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.