Abivax (NASDAQ:ABVX) Stock Price Target Lowered at Wedbush

Abivax (NASDAQ:ABVX) had its target price dropped by investment analysts at Wedbush from $118.00 to $96.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Wedbush’s target price indicates a potential upside of 3.68% from the company’s current price.

A number of other research analysts also recently commented on the company. Jefferies Financial Group upgraded Abivax from a “hold” rating to a “buy” rating and boosted their target price for the company from $108.00 to $158.00 in a research note on Tuesday, June 30th. Truist Financial dropped their target price on Abivax from $155.00 to $151.00 and set a “buy” rating on the stock in a research report on Tuesday, September 22nd. Leerink Partners raised their price target on Abivax from $140.00 to $148.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 30th. HC Wainwright reaffirmed a “buy” rating on shares of Abivax in a research note on Tuesday, June 30th. Finally, The Goldman Sachs Group assumed coverage on Abivax in a report on Wednesday, September 9th. They set a “buy” rating and a $155.00 price target for the company. 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $155.00.

Abivax Stock Up 5.8%

Abivax stock opened at $92.59 on Wednesday. The company’s fifty day simple moving average is $105.10 and its 200-day simple moving average is $114.33. Abivax has a 12 month low of $69.81 and a 12 month 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.

Abivax (NASDAQ:ABVX) last posted its quarterly earnings results on Monday, September 21st. The company reported ($1.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.79). The firm had revenue of $1.37 million for the quarter, compared to analyst estimates of $0.80 million. On average, equities research analysts expect that Abivax will post -4.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Abivax

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Diversify Advisory Services LLC raised its position in shares of Abivax by 19.0% in the third quarter. Diversify Advisory Services LLC now owns 24,780 shares of the company’s stock valued at $2,289,000 after purchasing an additional 3,963 shares during the period. Prime Capital Investment Advisors LLC acquired a new stake in shares of Abivax in the third quarter worth $268,000. Vontobel Holding Ltd. lifted its stake in shares of Abivax by 20.9% in the third quarter. Vontobel Holding Ltd. now owns 4,167 shares of the company’s stock worth $413,000 after buying an additional 719 shares during the last quarter. Goldstein Advisors LLC boosted its holdings in shares of Abivax by 49.6% during the 3rd quarter. Goldstein Advisors LLC now owns 2,390 shares of the company’s stock worth $237,000 after buying an additional 792 shares during the period. Finally, Sax Wealth Advisors LLC bought a new stake in shares of Abivax during the 3rd quarter worth $642,000. Institutional investors and hedge funds own 47.91% of the company’s stock.

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.