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

Abivax (NASDAQ:ABVX)‘s stock had its “buy” rating restated by research analysts at Guggenheim in a research report issued on Tuesday, Benzinga reports. They currently have a $175.00 target price on the stock. Guggenheim‘s price objective indicates a potential upside of 89.01% from the company’s current price.

Other research analysts have also recently issued reports about the company. Leerink Partners lifted their price target on Abivax from $140.00 to $148.00 and gave the company an “outperform” rating in a research report on Tuesday, June 30th. 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. Piper Sandler lifted their price target on Abivax from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. BTIG Research lifted their price target on Abivax from $150.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. Finally, Wedbush reduced their price target on Abivax from $140.00 to $118.00 and set a “neutral” rating for the company in a research report on Tuesday, September 22nd. One equities research 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 assigned a Sell rating to the company. According to MarketBeat, Abivax has a consensus rating of “Moderate Buy” and a consensus target price of $156.69.

Abivax Price Performance

ABVX stock traded up $5.10 during trading on Tuesday, hitting $92.59. 1,604,434 shares of the company traded hands, compared to its average volume of 1,429,569. The stock’s 50-day simple moving average is $105.79 and its 200 day simple moving average is $114.49. The company has a market cap of $8.10 billion, a PE ratio of -15.28 and a beta of 1.14. 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 results on Monday, September 21st. The company reported ($1.71) earnings per share 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 the consensus estimate of $0.80 million. Research analysts expect that Abivax will post -4.04 earnings per share for the current year.

Institutional Trading of Abivax

A number of institutional investors and hedge funds have recently made changes to their positions in the business. GHP Investment Advisors Inc. increased its position in shares of Abivax by 155.6% in the first quarter. GHP Investment Advisors Inc. now owns 230 shares of the company’s stock valued at $26,000 after buying an additional 140 shares in the last quarter. Versant Capital Management Inc purchased a new stake in shares of Abivax in the second quarter valued at approximately $30,000. Assetmark Inc. increased its position in shares of Abivax by 41.5% in the first quarter. Assetmark Inc. now owns 886 shares of the company’s stock valued at $99,000 after buying an additional 260 shares in the last quarter. SmartHarvest Portfolios LLC increased its position in shares of Abivax by 11.6% in the first quarter. SmartHarvest Portfolios LLC now owns 2,696 shares of the company’s stock valued at $300,000 after buying an additional 280 shares in the last quarter. Finally, Personal CFO Solutions LLC increased its position in shares of Abivax by 10.5% in the first quarter. Personal CFO Solutions LLC now owns 3,027 shares of the company’s stock valued at $337,000 after buying an additional 288 shares in the last quarter. 47.91% of the stock is currently owned by hedge funds and other 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.