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

Shares of Abivax SA Sponsored ADR (NASDAQ:ABVX) have been assigned an average rating of “Buy” from the thirteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, ten have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $123.00.

ABVX has been the subject of a number of research reports. Wall Street Zen upgraded shares of Abivax from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Truist Financial set a $140.00 price objective on Abivax in a research note on Monday. Wolfe Research raised Abivax to a “strong-buy” rating in a report on Thursday, November 6th. JMP Securities upped their target price on Abivax from $95.00 to $114.00 and gave the stock a “market outperform” rating in a research note on Thursday, September 25th. Finally, Citigroup reiterated a “market outperform” rating on shares of Abivax in a research report on Tuesday, November 4th.

Hedge Funds Weigh In On Abivax

Several large investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its position in Abivax by 4,612.5% during the third quarter. EverSource Wealth Advisors LLC now owns 377 shares of the company’s stock valued at $32,000 after buying an additional 369 shares during the period. First Horizon Corp purchased a new stake in shares of Abivax during the 3rd quarter worth about $36,000. Hantz Financial Services Inc. acquired a new position in shares of Abivax during the 3rd quarter worth approximately $52,000. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Abivax during the 3rd quarter worth approximately $76,000. Finally, Covestor Ltd purchased a new position in shares of Abivax during the 3rd quarter valued at approximately $96,000. 47.91% of the stock is currently owned by institutional investors and hedge funds.

Abivax Stock Up 5.5%

Shares of NASDAQ ABVX opened at $125.71 on Tuesday. Abivax has a 52 week low of $4.77 and a 52 week high of $127.00. The business’s 50 day moving average price is $95.43 and its 200 day moving average price is $57.17. The firm has a market cap of $9.78 billion, a P/E ratio of -72.66 and a beta of 0.38.

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 expect that Abivax will post -2.83 earnings per share for the current year.

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.