Jefferies Upgrades Abivax to Buy, Raises Price Target on Obefazimod Safety
JEF•Jefferies has upgraded Abivax shares to Buy from Neutral and raised its price target after safety concerns around its lead drug obefazimod eased. The move reflects Jefferies’ confidence in improved clinical tolerability following recent trial data that showed fewer adverse liver events.
1. Rating Upgrade and Price Target Lift
Jefferies elevated Abivax from a Neutral to a Buy rating and simultaneously increased its price target, signaling a stronger conviction in the company’s valuation. The adjustment comes after a detailed review of recent safety data, suggesting a lower risk profile for Abivax’s lead compound.
2. Eased Safety Concerns over Obefazimod
Obefazimod, Abivax’s anti-inflammatory candidate, had been under scrutiny for elevated liver enzyme readings, but new trial results indicated a marked reduction in such events. This improved tolerability profile has prompted Jefferies to reprice the stock and adopt a more bullish stance.
