Abivax (NASDAQ:ABVX) Rating Increased to Neutral at Wedbush

Abivax (NASDAQ:ABVX) was upgraded by analysts at Wedbush from an “underperform” rating to a “neutral” rating in a report released on Tuesday, MarketBeat reports. The brokerage currently has a $90.00 price target on the stock. Wedbush’s price target indicates a potential downside of 30.60% from the company’s previous close.

Several other research firms also recently issued reports on ABVX. Wall Street Zen raised shares of Abivax from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. BTIG Research reaffirmed a “buy” rating and set a $150.00 price objective on shares of Abivax in a report on Tuesday. Jefferies Financial Group downgraded shares of Abivax from a “buy” rating to a “hold” rating and set a $90.00 price objective for the company. in a report on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Abivax in a report on Monday, April 20th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $131.00 price objective on shares of Abivax in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.23.

Abivax Stock Performance

Abivax stock opened at $129.69 on Tuesday. The firm has a market cap of $10.34 billion, a PE ratio of -24.89 and a beta of 0.69. The firm’s 50 day moving average price is $118.57 and its two-hundred day moving average price is $120.16. Abivax has a twelve month low of $5.69 and a twelve month high of $148.83.

Abivax (NASDAQ:ABVX) last announced its quarterly earnings results on Friday, May 22nd. The company reported ($0.71) EPS for the quarter, topping the consensus estimate of ($0.94) by $0.23. The business had revenue of $1.56 million for the quarter, compared to analyst estimates of $0.40 million. Equities analysts anticipate that Abivax will post -3.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Abivax

Institutional investors have recently modified their holdings of the business. Jefferies Financial Group Inc. acquired a new stake in shares of Abivax during the 3rd quarter worth approximately $38,827,000. Persistent Asset Partners Ltd acquired a new stake in shares of Abivax during the 3rd quarter worth approximately $815,000. Atika Capital Management LLC acquired a new stake in shares of Abivax during the 3rd quarter worth approximately $5,858,000. Nan Fung Trinity HK Ltd. grew its position in shares of Abivax by 11.8% during the 4th quarter. Nan Fung Trinity HK Ltd. now owns 113,365 shares of the company’s stock worth $15,288,000 after buying an additional 12,000 shares during the period. Finally, Total Clarity Wealth Management Inc. bought a new position in Abivax during the 4th quarter worth approximately $1,247,000. Institutional investors and hedge funds own 47.91% of the company’s stock.

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.