Abivax (NASDAQ:ABVX) Given “Overweight” Rating at Barclays

Abivax (NASDAQ:ABVX)‘s stock had its “overweight” rating reissued by analysts at Barclays in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $148.00 target price on the stock. Barclays‘s price objective indicates a potential upside of 43.06% from the stock’s previous close.

Several other research analysts have also recently weighed in on the stock. HC Wainwright reissued a “buy” rating on shares of Abivax in a report on Tuesday, June 30th. Piper Sandler lifted their target price on shares of Abivax from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. The Goldman Sachs Group started coverage on shares of Abivax in a research note on Wednesday, September 9th. They set a “buy” rating and a $155.00 target price for the company. BTIG Research raised their price target on Abivax from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Abivax in a report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $157.00.

Abivax Price Performance

Abivax stock opened at $103.45 on Tuesday. Abivax has a one year low of $69.81 and a one year high of $148.83. The stock has a market capitalization of $9.04 billion, a PE ratio of -19.86 and a beta of 0.96. The business’s fifty day moving average is $120.76 and its 200 day moving average is $117.67.

Abivax (NASDAQ:ABVX) last issued its 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 business had revenue of $1.37 million during the quarter, compared to analyst estimates of $0.80 million. As a group, sell-side analysts expect that Abivax will post -3.22 EPS for the current fiscal year.

Institutional Trading of Abivax

Hedge funds have recently bought and sold shares of the stock. Engineers Gate Manager LP bought a new stake in Abivax in the second quarter worth $284,000. Readystate Asset Management LP increased its holdings in shares of Abivax by 19.6% in the 2nd quarter. Readystate Asset Management LP now owns 241,530 shares of the company’s stock worth $32,186,000 after buying an additional 39,508 shares during the last quarter. Troluce Capital Advisors LLC bought a new stake in shares of Abivax in the 2nd quarter worth about $133,000. Seven Fleet Capital Management LP raised its position in shares of Abivax by 158.6% during the 2nd quarter. Seven Fleet Capital Management LP now owns 111,334 shares of the company’s stock valued at $14,836,000 after buying an additional 68,282 shares in the last quarter. Finally, FNY Investment Advisers LLC raised its position in shares of Abivax by 7.3% during the 2nd quarter. FNY Investment Advisers LLC now owns 7,605 shares of the company’s stock valued at $1,013,000 after buying an additional 519 shares in the last quarter. Hedge funds and other institutional investors own 47.91% of the company’s stock.

Abivax Company Profile

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.