Abivax (NASDAQ:ABVX) Posts Quarterly Earnings Results, Misses Expectations By $0.79 EPS

Abivax (NASDAQ:ABVX) posted its earnings results on Monday. The company reported ($1.71) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.79), Zacks reports. The business had revenue of $1.37 million for the quarter, compared to analysts’ expectations of $0.80 million.

Abivax Price Performance

ABVX opened at $103.45 on Tuesday. The stock has a market capitalization of $9.04 billion, a price-to-earnings ratio of -19.86 and a beta of 0.96. The business has a 50-day moving average of $120.76 and a two-hundred day moving average of $117.67. Abivax has a 12 month low of $69.81 and a 12 month high of $148.83.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ABVX. Truist Financial lifted their price objective on Abivax from $135.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Guggenheim reiterated a “buy” rating on shares of Abivax in a report on Tuesday, June 30th. Wedbush boosted their price target on Abivax from $90.00 to $110.00 and gave the stock a “neutral” rating in a report on Tuesday, June 30th. Wolfe Research set a $136.00 price objective on Abivax in a research report on Wednesday, June 3rd. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $180.00 price objective on shares of Abivax in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.38.

About Abivax

Abivax is a clinical-stage biotechnology company headquartered in Paris, France, focused on developing oral therapies for chronic inflammatory and immune-mediated diseases. Its lead investigational product is obefazimod, an oral small-molecule therapy designed to enhance the production of microRNA-124, a regulator of inflammatory pathways.

Obefazimod is being developed primarily for ulcerative colitis, a chronic inflammatory disease of the colon, and has also been evaluated in Crohn’s disease.