Morgan Stanley Forecasts Strong Price Appreciation for Abivax (NASDAQ:ABVX) Stock

Abivax (NASDAQ:ABVX) had its target price upped by Morgan Stanley from $71.00 to $101.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 20.22% from the stock’s previous close.

ABVX has been the subject of a number of other research reports. Piper Sandler raised their target price on Abivax from $70.00 to $112.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Guggenheim lifted their price objective on Abivax from $50.00 to $101.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Leerink Partners set a $74.00 price objective on Abivax and gave the company an “outperform” rating in a research note on Wednesday, July 23rd. Lifesci Capital lifted their price objective on Abivax from $45.00 to $101.00 and gave the company an “outperform” rating in a research note on Wednesday, July 23rd. Finally, Citigroup reiterated a “market outperform” rating on shares of Abivax in a research note on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $99.43.

Abivax Trading Down 2.3%

Shares of ABVX opened at $84.01 on Friday. The company has a current ratio of 0.77, a quick ratio of 1.25 and a debt-to-equity ratio of 1.29. The stock has a fifty day moving average price of $59.72 and a 200-day moving average price of $25.08. Abivax has a 12 month low of $4.77 and a 12 month high of $92.91.

Abivax (NASDAQ:ABVX) last issued its earnings results on Monday, September 8th. The company reported ($0.86) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.04. On average, research analysts expect that Abivax will post -2.83 earnings per share for the current year.

Institutional Investors Weigh In On Abivax

Institutional investors have recently bought and sold shares of the company. Bank of America Corp DE boosted its holdings in Abivax by 56.1% in the 4th quarter. Bank of America Corp DE now owns 5,536 shares of the company’s stock worth $41,000 after buying an additional 1,990 shares during the last quarter. Cubist Systematic Strategies LLC boosted its holdings in shares of Abivax by 34.3% during the 1st quarter. Cubist Systematic Strategies LLC now owns 10,152 shares of the company’s stock worth $63,000 after purchasing an additional 2,595 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in shares of Abivax during the 4th quarter worth approximately $85,000. Stonepine Capital Management LLC acquired a new position in shares of Abivax during the 4th quarter worth approximately $110,000. Finally, XTX Topco Ltd acquired a new position in shares of Abivax during the 2nd quarter worth approximately $139,000. 47.91% of the stock is currently owned by institutional investors and hedge funds.

About Abivax

ABIVAX Société Anonyme, a clinical-stage biotechnology company, focuses on developing therapeutics that harness the body's natural regulatory mechanisms to stablize the immune response in patients with chronic inflammatory diseases. The company is evaluating its lead drug candidate, obefazimod, in Phase 3 clinical trials for the treatment of moderately to severely active ulcerative colitis in adults.