We recently published 10 Stocks With Eye-Popping Double-Digit Gains. ABIVAX Société Anonyme is one of the biggest performers on Wednesday.
ABIVAX soared by a whopping 586 percent on Wednesday to hit a new high, as investors gobbled up shares following bullish analyst outlooks and impressive performance from the phase 3 trial of its ulcerative colitis treatment candidate.
In a market note, investment bank Morgan Stanley raised its price target for ABIVAX Société Anonyme to $71 from $12 previously, a whopping 492-percent increase, while upgrading its stock rating to “overweight” from “equal weight” prior.
The optimism was based on ABIVAX Société Anonyme’s announcement on the same day exceeding analyst expectations for the third phase of its ABTECT program, which showed a clinical remission of 16.4 percent for the 50mg dose, versus the 15 percent as anticipated by market experts.
For its part, LifeSci Capital also gave the company a $101 price target, or a 124-percent increase from its previous target of $45. It maintained an “outperform” rating on the stock.
ABIVAX Société Anonyme also earned bullish ratings and price target upgrades from other investment firms, namely Guggenheim, JMP, Leerink, and Piper Sandler, among others.
