Abivax SA Sponsored ADR (ABVX – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on March 24. Analyst Thomas Smith from Leerink Partners reiterated a Buy rating on the stock and has a $20.00 price target.
Thomas Smith has given his Buy rating due to a combination of factors related to Abivax SA’s promising clinical developments. The company has reported its fiscal year 2024 results and confirmed the timeline for significant data releases from its clinical trials, particularly for its lead drug candidate obefazimod, which is being tested for ulcerative colitis and Crohn’s disease. The Phase 3 ABTECT program for obefazimod in ulcerative colitis is on schedule, with topline induction data expected in the third quarter of 2025. This data is anticipated to be one of the most critical clinical readouts in the inflammatory bowel disease space this year.
Additionally, the company’s recent Investor Day and participation in the Leerink Partners Global Healthcare Conference have highlighted the drug’s development progress and its potential as a treatment option. Obefazimod has demonstrated significant efficacy and safety in previous trials, which supports its potential as a first-line treatment or for patients with prior biologic treatments. The expected completion of enrollment for the ABTECT program by the second quarter of 2025 and the upcoming data from the Phase 2b ENHANCE-CD trial in Crohn’s disease further reinforce the positive outlook. These developments suggest that obefazimod could significantly impact the treatment landscape for inflammatory bowel diseases, justifying the Buy rating.
In another report released on March 25, LifeSci Capital also maintained a Buy rating on the stock with a $45.00 price target.