JMP Securities analyst Jason Butler reiterated a Buy rating on Abivax SA Sponsored ADR (ABVX – Research Report) today and set a price target of $33.00.
Jason Butler’s rating is based on several factors, including the promising progress of Abivax’s Phase 3 trials for obefazimod, a treatment for moderate-to-severe ulcerative colitis. The company has maintained its timeline, with enrollment expected to complete by the second quarter of 2025 and top-line results anticipated in the third quarter of the same year. This adherence to schedule, along with the confidence expressed by management and key opinion leaders in the potential positive outcomes of the trials, supports the Buy rating.
Furthermore, Abivax’s strong financial position at the end of 2024, with €144.2 million in cash, provides a solid foundation for continued development and operational activities. The financial stability, combined with the potential success of the obefazimod trials, underpins the risk-adjusted, discounted cash flow-derived price target of $33, reinforcing the positive outlook for the stock.
According to TipRanks, Butler is an analyst with an average return of -5.1% and a 39.20% success rate. Butler covers the Healthcare sector, focusing on stocks such as Cytokinetics, Esperion, and Precigen.
In another report released on March 18, LifeSci Capital also maintained a Buy rating on the stock with a $45.00 price target.