Abivax Upgraded to Neutral with $90 Target After 40% Remission but Safety Concerns
ABVX•Wedbush raised Abivax from Underperform to Neutral and set a $90 price target, down from $110. The firm highlighted placebo-adjusted clinical remission rates of 40% versus 20%–30% benchmarks, but flagged malignancies at the 50 mg daily dose, increasing risk of a black-box warning and an FDA advisory panel review.
1. Wedbush Upgrade to Neutral
Wedbush raised Abivax’s rating from Underperform to Neutral and set a $90 per share price target, marking a downgrade from its prior $110 outlook. The upgrade reflects improved confidence in early clinical data but acknowledges lingering safety questions.
2. Clinical Remission Data and Safety Concerns
Abivax reported placebo-adjusted maintenance remission rates of 40%, exceeding the 20%–30% range analysts expected. However, the firm highlighted observed malignancies at the 50 mg daily dose, noting this could prompt a black-box warning and necessitate an FDA advisory committee review before approval.
