Abivax price target raised, named a ‘Best Idea’ at Guggenheim

Guggenheim raised the firm’s price target on Abivax (ABVX) to $150 from $101 and keeps a Buy rating on the shares, which have also been designated as the analyst’s “Best Idea” after the analyst attended the UEGW conference in Berlin and also hosted an investor dinner with the company’s management team. There was “unanimous agreement” among the key opinion leaders that the use and adoption of obefazimod is likely to be broad from front-line to later-line usage, reports the analyst, who envision the drug becoming “the cornerstone oral treatment” for ulcerative colitis.