Abivax (ABVX) PT Raised to $175; Piper Sandler: 'We remain buyers here'
Piper Sandler analyst Allison M. Bratzel raised the price target on Abivax (NASDAQ: ABVX) to $175.00 (from $165.00) while maintaining an Overweight rating.
The analyst commented: "Updating Model, Raising UC Estimates; Continue to See Upside; We remain Overweight rated on ABVX shares, raising our UC obefazimod revenue estimates and price target following the Part 2 maintenance readout and recent equity financing. With malignancy concerns now definitively put to rest and obefazimod's best-indisease efficacy, and supported by our recent gastroenterologist survey work and KOLwork, we are raising our UC revenue estimates and now model 2035E US UC revenue of $4.2B (vs. $3.7B prior), increasing our PT to $175/sh. Thus even with the recent stock move (+44% since Part 2 data) we believe there's significant upside that can make its way into the stock heading into upcoming events including presentation of full Part 1 UC maintenance data at UEGW in October, preclinical combo data ~early-2027, and Crohn's data mid-2027. Takeout is not contemplated in our thesis but remains a topic of ongoing investor discussion, which we address in more detail below. We remain buyers here."