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Investing.com - Piper Sandler raised its price target on Abivax (NASDAQ:ABVX) to $70.00 from $42.00 on Wednesday, while maintaining an Overweight rating following positive clinical trial results. According to InvestingPro data, analyst targets for ABVX range from $12 to $95, with the stock currently trading near its 52-week high after posting strong returns over the past three months.
The upgrade comes after Abivax disclosed topline induction data from its Phase 3 ABTECT program evaluating obefazimod in ulcerative colitis (UC) patients. The 50mg dose demonstrated a pooled 16.4% placebo-adjusted remission rate across both ABTECT studies at week 8, with high statistical significance (p
All key secondary endpoints in the trials also achieved statistical significance, according to the research note. The safety and tolerability profile of obefazimod was described as "very clean" in the analyst commentary.
Piper Sandler indicated that these results validate obefazimod’s "highly-differentiated profile" in the treatment of ulcerative colitis, leading to increased revenue estimates and the higher price target.
Maintenance data from the UC trials is expected in the second quarter of 2026, with regulatory filing to follow thereafter.
In other recent news, Abivax has announced positive results from its Phase 3 clinical trials for its ulcerative colitis treatment, obefazimod. The trials, known as ABTECT-1 and ABTECT-2, achieved primary endpoints, showing statistically significant clinical remission at Week 8 for the 50 mg dose. This promising data has led several financial firms to adjust their outlook on Abivax. Morgan Stanley (NYSE:MS) upgraded the company’s stock to Overweight, significantly raising its price target from $12.00 to $71.00. Similarly, Leerink Partners increased its price target from $20.00 to $74.00, maintaining an Outperform rating. Guggenheim also raised its price target to $101.00 from $50.00, while JMP Securities increased its target to $95.00 from $33.00, both maintaining favorable ratings. These developments highlight the strong market confidence in Abivax’s ulcerative colitis treatment.
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