Citizens JMP raised the firm’s price target on Abivax (ABVX) to $114 from $95 and keeps an Outperform rating on the shares after the company announced that results from the obefazimod Phase 3 induction trials will be presented next month. The firm believes the Phase 3 results can reinforce the strength of obefazimod’s efficacy, and increase conviction in its multi-billion dollar sales potential. In anticipation, Citizens increased the drug’s peak sales estimates.
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