Abivax price target raised to $101 from $45 at LifeSci Capital

LifeSci Capital raised the firm’s price target on Abivax (ABVX) to $101 from $45 and keeps an Outperform rating on the shares after the company announced topline 8-week induction results from its Phase 3 ABTECT program with obefazimod in moderate-to-severely active ulcerative colitis. The data exceeded investor expectations and the firm thinks Abivax is “particularly positioned well with the 50mg QD dose,” says the analyst, who tells investors that “it’s important to keep in mind that obefazimod is currently the most advanced therapy in clinical development for UC.”