Abivax SA Sponsored ADR, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Julian Harrison from BTIG maintained a Buy rating on the stock and has a $43.00 price target.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Julian Harrison has given his Buy rating due to a combination of factors surrounding the promising results from the Phase 3 ABTECT trial of obefazimod in ulcerative colitis (UC). The trial demonstrated a significant clinical remission rate that exceeded expectations, indicating a strong potential for the drug’s efficacy. The safety profile of obefazimod is comparable to established treatments, which, combined with its oral administration and novel mechanism of action, suggests a broad commercial appeal.
Furthermore, the drug’s efficacy in various patient subgroups, including those who have not responded to other treatments, enhances its potential market reach. The ongoing studies and expected data releases for obefazimod in Crohn’s disease and other non-IBD indications further support its potential. The clean safety profile, with minimal adverse effects, adds to the confidence in obefazimod’s future regulatory approval and commercial success.
In another report released today, Citizens JMP also maintained a Buy rating on the stock with a $95.00 price target.