Analyst Julian Harrison of BTIG maintained a Buy rating on Abivax SA Sponsored ADR (ABVX – Research Report), retaining the price target of $43.00.
Julian Harrison has given his Buy rating due to a combination of factors that highlight the potential of Abivax SA’s obefazimod in the treatment of ulcerative colitis. The company is on track to complete enrollment for its Phase 3 ABTECT trials by the second quarter of 2025, with data expected in the third quarter. A recent event featuring Dr. David Rubin emphasized the significant unmet need for safe therapies in refractory ulcerative colitis patients, and obefazimod’s novel mechanism of action and safety profile position it well to meet this need.
Additionally, the Phase 3 trials are designed to replicate the successful results from Phase 2b, with measures in place to control placebo effects and ensure consistent results. The exclusion of concurrent immunomodulator treatments and the limitation on corticosteroid doses are expected to mitigate placebo responses, enhancing the likelihood of success. With sufficient funding to support operations and a promising outlook for obefazimod, Harrison sees the potential for this therapy to become a blockbuster in the inflammatory bowel disease market.
Harrison covers the Healthcare sector, focusing on stocks such as VYNE Therapeutics, Nektar Therapeutics, and Protagonist Therapeutics. According to TipRanks, Harrison has an average return of 3.1% and a 41.39% success rate on recommended stocks.
In another report released yesterday, JMP Securities also reiterated a Buy rating on the stock with a $33.00 price target.