Leerink Partners analyst Thomas Smith has maintained their bullish stance on ABVX stock, giving a Buy rating yesterday.
Thomas Smith has given his Buy rating due to a combination of factors that highlight the promising potential of Abivax SA’s lead program, obefazimod, in treating moderate-to-severe ulcerative colitis. The completion of enrollment for the Phase 3 ABTECT trials, which exceeded initial targets, is a significant milestone. The trials’ baseline characteristics align closely with previous successful Phase 2b trials, suggesting consistency and reliability in the study design.
Furthermore, Abivax is implementing strategies to address challenges such as placebo response, by enrolling more treatment-experienced patients and adjusting steroid use protocols. The clinical response rates in the current trials are comparable to prior studies, and the safety profile remains favorable with no new safety signals reported. These factors, combined with management’s optimistic outlook on achieving a favorable placebo-adjusted clinical remission rate, underpin the Buy rating as the company progresses towards potential regulatory submissions.
In another report released yesterday, JMP Securities also reiterated a Buy rating on the stock with a $33.00 price target.
ABVX’s price has also changed moderately for the past six months – from $10.600 to $7.120, which is a -32.83% drop .