Abivax (NASDAQ:ABVX) Price Target Raised to $131.00

Abivax (NASDAQ:ABVX) had its price objective lifted by Citizens Jmp from $114.00 to $131.00 in a research report report published on Tuesday morning,Benzinga reports. The firm currently has a market outperform rating on the stock.

ABVX has been the subject of several other reports. BTIG Research upped their target price on Abivax from $112.00 to $120.00 and gave the company a “buy” rating in a report on Monday, October 6th. Barclays began coverage on shares of Abivax in a report on Monday, October 13th. They set an “overweight” rating and a $142.00 price target for the company. Guggenheim increased their price objective on Abivax from $101.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. Wolfe Research raised Abivax to a “strong-buy” rating in a research note on Thursday, November 6th. Finally, JMP Securities lifted their target price on Abivax from $95.00 to $114.00 and gave the company a “market outperform” rating in a research report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.73.

Abivax Stock Performance

ABVX opened at $113.61 on Tuesday. The firm has a market capitalization of $8.85 billion, a PE ratio of -65.67 and a beta of 0.48. The company has a current ratio of 7.86, a quick ratio of 0.77 and a debt-to-equity ratio of 0.03. Abivax has a twelve month low of $4.77 and a twelve month high of $138.49. The firm’s 50-day moving average price is $108.31 and its 200 day moving average price is $70.67.

Abivax (NASDAQ:ABVX) last released its earnings results on Monday, December 15th. The company reported ($2.46) earnings per share for the quarter. The business had revenue of ($4.92) million for the quarter. As a group, sell-side analysts expect that Abivax will post -2.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its stake in shares of Abivax by 4,612.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 377 shares of the company’s stock valued at $32,000 after purchasing an additional 369 shares during the last quarter. First Horizon Corp acquired a new stake in Abivax during the 3rd quarter worth about $36,000. Bank of America Corp DE raised its position in shares of Abivax by 56.1% in the 4th quarter. Bank of America Corp DE now owns 5,536 shares of the company’s stock worth $41,000 after acquiring an additional 1,990 shares in the last quarter. Hantz Financial Services Inc. bought a new stake in shares of Abivax during the 3rd quarter valued at about $52,000. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Abivax by 34.3% during the 1st quarter. Cubist Systematic Strategies LLC now owns 10,152 shares of the company’s stock valued at $63,000 after purchasing an additional 2,595 shares in the last quarter. Institutional investors own 47.91% of the company’s stock.

About Abivax

ABIVAX Société Anonyme, a clinical-stage biotechnology company, focuses on developing therapeutics that harness the body's natural regulatory mechanisms to stablize the immune response in patients with chronic inflammatory diseases. The company is evaluating its lead drug candidate, obefazimod, in Phase 3 clinical trials for the treatment of moderately to severely active ulcerative colitis in adults.