Abivax assumed with an Equal Weight at Morgan Stanley

Morgan Stanley assumed coverage of Abivax (ABVX) with an Equal Weight rating and $12 price target The Phase 2 results for obefazimod, Abivax’s miR-124 upregulator, point to its potential as a safe, oral option for ulcerative colitis patients, the analyst tells investors in a research note. However, the firm believes the upcoming Phase 3 induction readout in Q3 “will be key in defining next steps for the company.” The Equal Weight rating assumes the shares could remain range-bound until investors are presented with this data cut, contends Morgan Stanley.