Guggenheim raised the firm’s price target on Abivax (ABVX) to $101 from $50 and keeps a Buy rating on the shares after the company announced what the firm called “a highly positive” Phase 3 ABTECT readout for obefazimod to treat ulcerative colitis. There was “a profound dose response,” which the firm views as “very encouraging from a regulatory standpoint,” the analyst added, noting a belief that obefazimod should be valued in the $7B-$10B range.
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Read More on ABVX:
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