Jul. 23 at 12:07 PM
Citizens⬆️
$ABVX to
$95, reit Mkt-OP &said, "Stellar Phase 3 results for obefazimod in ulcerative colitis support potential for broad and early use in clinical practice"
$ABBV $BMY PFE TAK
$JNJ
$PTGX VYTX LLY
Guggenheim⬆️
$ABVX $101, reit Buy &said data clearly beat its/Buyside's exps.—believes obe S/B valued
$7-10B range, given the recent M&A comps—Gugg's KOL called data "striking"
Citizens said, "we reiterate our Market Outperform rating and increase our risk-adjusted, DCF-derived price target to
$95 from
$33 on Abivax SA.
Yesterday afternoon, Abivax announced positive results from the two Phase 3 induction trials for obefazimod in moderate-to-severe ulcerative colitis.
We view the results as highly compelling, with a pooled, placebo-adjusted clinical remission rate of 16.4% (p<0.0001) and a clean safety/tolerability profile. We raise our probability of approval and sales projections for the candidate, driving our increased price target."
Guggenheim in its note said:
