Citizens JMP Reiterates Market Outperform Rating on Abivax (ABVX)

Citizens JMP analyst Jason Butler reiterated a Market Outperform rating and $33.00 price target on Abivax (NASDAQ: ABVX).

The analyst commented, “Our confidence in the potential for positive obefazimod Phase 3 results in moderate-tosevere ulcerative colitis were reinforced by KOL call; we reiterate our Market Outperform rating and risk-adjusted, DCF-derived $33 price target on Abivax. On Wednesday, we hosted Dr. Marla Dubinsky, a gastroenterologist at Mt. Sinai and an IBD KOL, for a discussion on the upcoming Phase 3 results for obefazimod in ulcerative colitis. Dr. Dubinsky is encouraged about the potential for positive results for obefazimod in moderate-to-severe ulcerative colitis due to the positive Phase 2b results, especially the clear improvement in endoscopy scores and benefit in highly refractory patients. ABVX is one of our two high-conviction names into Phase 3 results that are coming soon.”

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 $10.34 yesterday.

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