Truist Financial Issues Positive Forecast for Abivax (NASDAQ:ABVX) Stock Price

Abivax (NASDAQ:ABVX) had its target price increased by investment analysts at Truist Financial from $135.00 to $155.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price would indicate a potential upside of 16.93% from the company’s current price.

Several other equities research analysts also recently commented on the stock. BTIG Research boosted their target price on shares of Abivax from $150.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday. Citizens Jmp reiterated a “market outperform” rating and set a $187.00 target price on shares of Abivax in a research report on Wednesday. Wedbush boosted their price target on shares of Abivax from $90.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday. Citigroup reaffirmed an “outperform” rating on shares of Abivax in a research note on Tuesday, June 2nd. Finally, Morgan Stanley dropped their price objective on shares of Abivax from $145.00 to $132.00 and set an “overweight” rating for the company in a report on Tuesday, June 2nd. Fourteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $146.00.

Abivax Trading Down 0.5%

Shares of ABVX opened at $132.56 on Thursday. The stock has a market cap of $10.57 billion, a PE ratio of -25.44 and a beta of 0.88. Abivax has a 1 year low of $7.64 and a 1 year high of $148.83. The stock has a 50 day simple moving average of $111.39 and a 200-day simple moving average of $117.42.

Abivax (NASDAQ:ABVX) last announced its quarterly earnings results on Friday, May 22nd. The company reported ($0.71) EPS for the quarter, beating the consensus estimate of ($0.94) by $0.23. The company had revenue of $1.56 million during the quarter, compared to analyst estimates of $0.40 million. On average, sell-side analysts forecast that Abivax will post -3.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ABVX. Jefferies Financial Group Inc. acquired a new position in shares of Abivax during the third quarter worth approximately $38,827,000. Nan Fung Trinity HK Ltd. increased its holdings in shares of Abivax by 11.8% in the fourth quarter. Nan Fung Trinity HK Ltd. now owns 113,365 shares of the company’s stock valued at $15,288,000 after purchasing an additional 12,000 shares in the last quarter. Atika Capital Management LLC bought a new position in Abivax in the 3rd quarter worth approximately $5,858,000. Total Clarity Wealth Management Inc. bought a new position in Abivax in the 4th quarter worth approximately $1,247,000. Finally, Hudson Bay Capital Management LP acquired a new position in Abivax during the 3rd quarter worth $7,731,000. Institutional investors and hedge funds own 47.91% of the company’s stock.

Key Abivax News

Here are the key news stories impacting Abivax this week:

• Positive Sentiment: Abivax’s latest obefazimod data in ulcerative colitis helped ease earlier safety worries, with updated analysis showing malignancy rates in line with background rates for ulcerative colitis patients. Abivax shares jump as updated trial data eases safety concerns
• Positive Sentiment: Investor demand for the company’s public offering was strong, as Abivax upsized the deal and fully exercised the underwriters’ option, lifting gross proceeds to about $920 million and strengthening the balance sheet. Abivax Announces Full Exercise of Underwriters’ Option to Purchase Additional ADSs, Bringing Gross Proceeds of Offering to $920M (€807M)
• Positive Sentiment: Analysts turned more constructive after the data update, with Jefferies upgrading the stock to buy and multiple firms raising price targets, reinforcing sentiment around Abivax’s pipeline.
• Neutral Sentiment: Trading in Abivax shares was temporarily halted on Euronext Paris and later resumed as the offering process progressed. Abivax announces trading resumption of its ordinary shares on Euronext Paris
• Negative Sentiment: The large equity offering also adds dilution risk, which can temper gains even as it improves liquidity and reduces financing concerns. Abivax Announces Pricing of Oversubscribed and Upsized $800M (€702M) Public Offering of American Depositary Shares

About Abivax

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.