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 $20.00 price target.
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Thomas Smith has given his Buy rating due to a combination of factors influencing the potential success of Abivax SA’s obefazimod. The upcoming Phase 3 ABTECT program results for obefazimod in treating moderate-to-severe ulcerative colitis are highly anticipated and expected to significantly impact the company’s stock value. The unique profile of obefazimod, as compared to existing oral therapies and biologics, is highlighted by its novel mechanism and the potential for being a safe and well-tolerated treatment option.
The unmet need in ulcerative colitis treatments, as indicated by key opinion leaders, supports the expectation that obefazimod could meet these demands effectively. The scenario analysis conducted suggests a favorable entry point for investors, with the most likely outcome being a statistically significant improvement in clinical remission rates. This, combined with the potential for high sales and a successful NDA submission, underpins the positive outlook for Abivax SA’s stock.
In another report released on July 2, Piper Sandler also maintained a Buy rating on the stock with a $42.00 price target.