Abivax Société Anonyme (ABVX) shares jumped about 10% today after fresh media reports revived takeover speculation around the French biotech. French publication La Lettre reported that Eli Lilly (LLY) is exploring a possible acquisition of Abivax, bringing renewed attention to the stock.
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According to the report, representatives from Eli Lilly met with France’s Treasury in early December to discuss the regulatory framework around a potential deal. While neither company has confirmed the talks, the report alone was enough to spark strong buying interest in Abivax shares.
Why Eli Lilly Could Be Interested
Abivax is developing obefazimod, an oral treatment aimed at ulcerative colitis. The drug has shown encouraging results in late-stage trials, making it an attractive asset in a space where demand for new treatment options remains high.
Large pharma companies like Eli Lilly have been actively looking to add new immunology drugs as they plan for future growth. Acquiring a late-stage asset can be faster than building one internally, which helps explain the market’s reaction to the report.
Is ABVX Stock a Buy, Sell, or Hold?
Currently, Wall Street has a Strong Buy consensus rating on Abivax stock based on nine unanimous Buys. The average ABVX stock price target of $145.67 indicates 27% upside potential.
