These are top 10 stocks traded on the Robinhood UK platform in July
Investing.com - JMP Securities raised its price target on Abivax (NASDAQ:ABVX) to $95.00 from $33.00 on Wednesday, while maintaining a Market Outperform rating following positive Phase 3 trial results for the company’s ulcerative colitis treatment. The stock, which has surged over 64% in the past six months according to InvestingPro data, currently trades around $10 per share.
The significant price target increase follows Abivax’s announcement of positive results from two Phase 3 induction trials for obefazimod in moderate-to-severe ulcerative colitis.
JMP highlighted the "highly compelling" nature of the results, noting a pooled, placebo-adjusted clinical remission rate of 16.4% with statistical significance (p
The research firm increased its probability of approval and sales projections for obefazimod, which directly contributed to the nearly threefold increase in price target.
JMP believes these stellar Phase 3 results support the potential for "broad and early use in clinical practice" for obefazimod, according to its analysis of the trial data.
In other recent news, Abivax SA (EPA:ABVX) announced that its oral ulcerative colitis treatment, obefazimod, met primary endpoints in two Phase 3 induction trials. The trials demonstrated statistically significant clinical remission rates compared to placebo, with a 16.4% placebo-adjusted clinical remission rate after eight weeks. Citizens JMP reiterated a Market Outperform rating on Abivax, maintaining a $33.00 price target, citing confidence in the drug’s promising Phase 2b performance. Piper Sandler also reiterated an Overweight rating with a $42.00 price target, emphasizing obefazimod’s differentiated profile based on Phase 2 data. Additionally, Abivax successfully completed enrollment for its Phase 3 trials, marking significant progress in the drug’s development. The company plans to report top-line results from these trials in the third quarter of 2025. This development has reinforced the positive outlook from analysts, who are closely monitoring the upcoming clinical trial results.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.