Abivax SA Sponsored ADR, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Thomas Smith from Leerink Partners reiterated a Buy rating on the stock and has a $74.00 price target.
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Thomas Smith has given his Buy rating due to a combination of factors that highlight the promising potential of Abivax SA’s lead asset, obefazimod, in treating ulcerative colitis. The recent Phase 3 ABTECT program results have shown impressive topline induction data, positioning obefazimod as a leading novel oral agent in the inflammatory bowel disease market, which is valued at approximately $30 billion. The drug has demonstrated significant efficacy, surpassing both investor and company expectations on the FDA’s primary endpoint of clinical remission, and achieving statistically significant benefits across all primary and key secondary endpoints in both studies.
Furthermore, obefazimod’s safety profile is well-tolerated, with manageable side effects such as transient headaches, which are not a major cause for discontinuation. The company’s plans for further data disclosure and upcoming data readouts, including maintenance data and Phase 2b Crohn’s disease data, provide additional confidence in the drug’s potential. These factors, combined with the strong induction results and previous Phase 2 data, have led to increased revenue estimates for obefazimod, supporting the Buy rating with a revised price target of $74.00.
In another report released yesterday, Citizens JMP also maintained a Buy rating on the stock with a $95.00 price target.
ABVX’s price has also changed dramatically for the past six months – from $6.080 to $68.600, which is a 1028.29% increase.