Abivax (NASDAQ:ABVX) Given New $110.00 Price Target at Wedbush

Abivax (NASDAQ:ABVX) had its price target upped by investment analysts at Wedbush from $90.00 to $110.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Wedbush’s price target indicates a potential upside of 14.40% from the company’s previous close.

ABVX has been the subject of a number of other research reports. Morgan Stanley dropped their target price on Abivax from $145.00 to $132.00 and set an “overweight” rating for the company in a research report on Tuesday, June 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Abivax in a research report on Monday, April 20th. Barclays lifted their price objective on Abivax from $142.00 to $148.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 24th. Oddo Bhf restated an “outperform” rating on shares of Abivax in a research report on Thursday, April 9th. Finally, Wall Street Zen raised shares of Abivax from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Abivax presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.54.

Abivax Trading Down 1.4%

Shares of NASDAQ ABVX opened at $96.15 on Tuesday. The company has a 50-day moving average of $110.78 and a two-hundred day moving average of $117.38. Abivax has a 1-year low of $7.41 and a 1-year high of $148.83. The company has a market cap of $7.67 billion, a PE ratio of -18.45 and a beta of 0.69.

Abivax (NASDAQ:ABVX) last posted its quarterly earnings data on Friday, May 22nd. The company reported ($0.71) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.94) by $0.23. The firm had revenue of $1.56 million for the quarter, compared to analyst estimates of $0.40 million. As a group, equities research analysts forecast that Abivax will post -3.4 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ABVX. Bank of America Corp DE grew its stake in shares of Abivax by 56.1% during the fourth quarter. Bank of America Corp DE now owns 5,536 shares of the company’s stock worth $41,000 after purchasing an additional 1,990 shares during the period. Cubist Systematic Strategies LLC lifted its stake in Abivax by 34.3% in the first quarter. Cubist Systematic Strategies LLC now owns 10,152 shares of the company’s stock valued at $63,000 after buying an additional 2,595 shares during the period. Millennium Management LLC boosted its holdings in Abivax by 6.0% during the first quarter. Millennium Management LLC now owns 987,414 shares of the company’s stock worth $6,171,000 after buying an additional 56,235 shares during the last quarter. Woodline Partners LP boosted its holdings in Abivax by 319.5% during the first quarter. Woodline Partners LP now owns 201,924 shares of the company’s stock worth $1,262,000 after buying an additional 153,788 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in Abivax during the second quarter worth about $139,000. 47.91% of the stock is currently owned by institutional investors.

Abivax Company Profile

Founded in 2013 and headquartered in Paris, France, Abivax is a clinical-stage biopharmaceutical company focused on discovering and developing novel therapies for chronic inflammatory diseases and viral infections. The company’s technology platform targets host RNA biogenesis to modulate key immune pathways, offering a differentiated approach aimed at disease modification and improved safety profiles.

Abivax’s lead clinical asset, obefazimod (ABX464), is being evaluated in ulcerative colitis and other inflammatory disorders.