Piper Sandler Reiterates Overweight Rating on Abivax (ABVX)

Piper Sandler analyst Christopher J. Raymond reiterated an Overweight rating and $42.00 price target on Abivax (NASDAQ: ABVX).

The analyst commented, "Remain OW on ABVX shares and highlight near-term catalysts for obefazimod which we think would further strengthen the asset’s potential in IBD. ABVX will present three abstracts at UEGW 2024 in October which will focus on long-term results from the P2b trial of obefazimod establishing benefit in initial non-responders and in maintaining steroid-free remission as well as a look at histologic endpoints at 8 weeks. Beyond that, ABVX plans on releasing more complete preclinical data in Q424 assessing obefazimod’s potential as a combination therapy (which as we recently discussed with a KOL, is key to the story), and we also expect an update on the selection of a follow-on miR-124 enhancer compound next quarter as well. Though incremental, we think these updates should only help the narrative around obefazimod's potential and remain buyers."

For an analyst ratings summary and ratings history on Abivax click here. For more ratings news on Abivax click here.

Shares of Abivax closed at $11.16 yesterday.

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