Adaptimmune stock plunges after announcing Nasdaq delisting plans
Investing.com - Citizens JMP has reiterated its Market Outperform rating and $95.00 price target on Abivax (NASDAQ:ABVX), representing significant upside from the current price of $26.11. According to InvestingPro data, analyst targets range from $34 to $77, with a strong consensus recommendation of 1.25.
The research firm maintained its positive outlook on the biopharmaceutical company, which has seen extraordinary market performance this year.
Abivax stock has surged 1,048% year-to-date following the announcement of compelling Phase 3 ABTECT clinical trial results.
The significant price movement places Abivax among the most notable performers in JMP’s coverage universe for the year.
JMP analyst Jason Butler highlighted these impressive gains in his research note while maintaining the firm’s bullish stance on the company’s prospects.
In other recent news, Rapport Therapeutics announced a public offering of 9,615,385 shares priced at $26 each, aiming to raise approximately $250 million in gross proceeds. The company has also given underwriters a 30-day option to purchase an additional 1,442,307 shares. Truist Securities initiated coverage of Rapport Therapeutics with a Buy rating and a $44 price target, emphasizing the company’s focus on central nervous system treatments. H.C. Wainwright raised its price target for Rapport Therapeutics to $34 from $31, maintaining a Buy rating, following positive data from a study on the company’s drug for focal onset seizures. Stifel also increased its price target to $56 from $35, citing strong efficacy results in a Phase 2a trial for the same drug. These developments reflect recent positive momentum for Rapport Therapeutics in its clinical efforts and market activities.
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