Abivax (NASDAQ:ABVX) Upgraded to “Strong-Buy” at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Abivax (NASDAQ:ABVX) to a strong-buy rating in a research report released on Wednesday,Zacks reports.

Other equities analysts have also recently issued research reports about the company. BTIG Research upped their price target on Abivax from $150.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. Leerink Partners boosted their target price on shares of Abivax from $140.00 to $148.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 30th. Citizens Jmp restated a “market outperform” rating and issued a $187.00 target price on shares of Abivax in a research note on Wednesday, July 1st. Truist Financial upped their target price on shares of Abivax from $135.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Finally, Wolfe Research set a $136.00 price target on shares of Abivax in a research note on Wednesday, June 3rd. One 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 issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.38.

Abivax Stock Performance

ABVX stock opened at $118.64 on Wednesday. The firm has a market cap of $10.35 billion, a P/E ratio of -22.77 and a beta of 0.96. Abivax has a 1 year low of $69.81 and a 1 year high of $148.83. The stock has a 50-day simple moving average of $124.83 and a 200-day simple moving average of $118.33.

Institutional Trading of Abivax

Several institutional investors have recently added to or reduced their stakes in the stock. UBS Group AG lifted its position in shares of Abivax by 2,561.0% in the 3rd quarter. UBS Group AG now owns 4,461,262 shares of the company’s stock worth $378,761,000 after buying an additional 4,293,606 shares during the last quarter. Morgan Stanley grew its position in shares of Abivax by 114.3% during the 4th quarter. Morgan Stanley now owns 3,151,994 shares of the company’s stock valued at $425,062,000 after buying an additional 1,681,277 shares during the last quarter. Paradigm Biocapital Advisors LP bought a new stake in shares of Abivax during the 3rd quarter valued at about $132,800,000. TCG Crossover Management LLC raised its stake in Abivax by 17.4% during the third quarter. TCG Crossover Management LLC now owns 7,111,596 shares of the company’s stock worth $603,774,000 after acquiring an additional 1,055,000 shares during the period. Finally, Westfield Capital Management Co. LP bought a new position in Abivax in the fourth quarter worth about $136,199,000. 47.91% of the stock is owned by institutional investors and hedge funds.

About Abivax

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.