Abivax SA Sponsored ADR (NASDAQ:ABVX) Receives Average Recommendation of “Moderate Buy” from Analysts

Abivax SA Sponsored ADR (NASDAQ:ABVX) has been given an average recommendation of “Moderate Buy” by the eleven brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $114.25.

A number of research analysts have recently weighed in on the company. BTIG Research raised their target price on Abivax from $112.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Leerink Partners set a $74.00 target price on Abivax and gave the stock an “outperform” rating in a report on Wednesday, July 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Abivax in a report on Wednesday, October 8th. Wall Street Zen raised Abivax from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Abivax in a report on Thursday, September 25th.

Abivax Stock Up 5.4%

Shares of Abivax stock opened at $104.29 on Friday. The stock’s fifty day moving average is $86.88 and its two-hundred day moving average is $44.44. The company has a market capitalization of $8.12 billion, a PE ratio of -60.28 and a beta of 0.39. Abivax has a 52 week low of $4.77 and a 52 week high of $106.73.

Abivax (NASDAQ:ABVX) last posted its quarterly 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. As a group, research analysts anticipate that Abivax will post -2.83 earnings per share for the current year.

Hedge Funds Weigh In On Abivax

Several hedge funds and other institutional investors have recently made changes to their positions in ABVX. Bank of America Corp DE boosted its stake in 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 buying an additional 1,990 shares during the last quarter. Aberdeen Group plc boosted its stake in Abivax by 67.5% during the first quarter. Aberdeen Group plc now owns 710,516 shares of the company’s stock worth $4,441,000 after buying an additional 286,335 shares during the last quarter. Affinity Asset Advisors LLC acquired a new position in Abivax during the first quarter worth $1,250,000. Cubist Systematic Strategies LLC boosted its stake in Abivax by 34.3% during the first quarter. Cubist Systematic Strategies LLC now owns 10,152 shares of the company’s stock worth $63,000 after buying an additional 2,595 shares during the last quarter. Finally, Nantahala Capital Management LLC boosted its stake in Abivax by 3.3% during the first quarter. Nantahala Capital Management LLC now owns 1,482,994 shares of the company’s stock worth $9,269,000 after buying an additional 46,947 shares during the last quarter. Hedge funds and other institutional investors own 47.91% of the company’s stock.

Abivax Company Profile

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.