Citizens JMP analyst Jason Butler raised the firm’s price target on Abivax (ABVX) to $95 from $33 and keeps an Outperform rating on the shares. “Stellar” Phase 3 results for obefazimod in ulcerative colitis support the potential for broad and early use in clinical practice, the analyst tells investors in a research note. The positive results from the two Phase 3 induction trials are highly compelling, with a pooled, placebo-adjusted clinical remission rate of 16.4% and a clean safety and tolerability profile, the firm says.
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