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Investing.com - Guggenheim raised its price target on Abivax (NASDAQ:ABVX) to $101.00 from $50.00 on Wednesday, while maintaining a Buy rating following positive Phase III trial results for the company’s ulcerative colitis treatment. The stock, which has surged over 64% in the past six months, currently trades near its 52-week high of $13.17. According to InvestingPro data, analyst consensus remains strongly bullish with price targets ranging from $12 to $50.
The price target increase comes after Abivax announced Tuesday that its Phase III ABTECT trial for obefazimod, an oral miR-124 inducer, demonstrated significant efficacy in ulcerative colitis patients. The large-scale study enrolled 1,275 patients across 36 countries. With a current market capitalization of $663 million, the biotech company is drawing significant investor attention despite operating with negative earnings of -$3.18 per share over the last twelve months.
Both high (50 mg) and low (25 mg) doses showed placebo-adjusted clinical remission rates of 16.4% and 13.2% respectively, exceeding market expectations of 10-12%. The trial included a challenging patient population with approximately 50% having previous biologic exposure.
Guggenheim noted that obefazimod demonstrated an excellent safety and tolerability profile, with only mild headaches that resolved within one week. This safety profile contrasts with other approved oral inflammatory bowel disease therapies that carry black box warnings or serious adverse effects.
Maintenance data for the treatment is expected in the second quarter of 2026, with Abivax planning to disclose additional breakdown of clinical remission rates between biologic-naïve and biologic-exposed patients at a medical congress likely in October. InvestingPro subscribers can access 12 additional investment tips and comprehensive financial metrics to better evaluate the company’s potential ahead of these crucial data releases.
In other recent news, Abivax announced positive results from two Phase 3 induction trials for its ulcerative colitis treatment, obefazimod. The trials demonstrated statistically significant clinical remission rates compared to placebo, with a 50 mg dose achieving notable placebo-adjusted remission rates in both ABTECT-1 and ABTECT-2 trials. Following this announcement, JMP Securities raised its price target for Abivax from $33 to $95, maintaining a Market Outperform rating due to the strong trial data. Citizens JMP also reiterated its Market Outperform rating, citing confidence in the drug’s potential based on promising Phase 2b performance. Meanwhile, Piper Sandler maintained an Overweight rating with a $42 price target, emphasizing obefazimod’s differentiated profile in ulcerative colitis. These developments reflect growing optimism in the investment community regarding Abivax’s treatment for moderate-to-severe ulcerative colitis.
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