Jefferies has upgraded French biotechnology firm Abivax to buy from hold, citing new clinical data for its lead drug candidate, obefazimod.
Analyst Faisal Khurshid led the research note, signaling increased confidence in the company's pipeline following the recent data release.
The upgrade comes in the wake of a sharp repricing of Abivax shares, which jumped 31% in Tuesday trading.
The upgrade comes in the wake of a sharp repricing of Abivax shares, which jumped 31% in Tuesday trading.
The market reaction was driven by the release of new clinical trial data supporting obefazimod, an experimental treatment targeting inflammatory bowel disease.
The positive update has significantly altered the risk-reward profile for the stock in the eyes of equity investors.
Abivax has been under scrutiny regarding the commercial viability of obefazimod, which targets ulcerative colitis and other inflammatory conditions.