Abivax Shares Climb After Goldman Sachs Initiates With 'Buy' Rating

Shares of French biotechnology firm Abivax rose 3.0% to €104.2 on Euronext Paris after Goldman Sachs initiated coverage on the company’s American Depositary Shares with a Buy rating. The investment bank set a price target of $155, citing significant commercial potential for Abivax's lead drug candidate.

Goldman Sees 'Multiblockbuster' Opportunity

In its initiation note, Goldman Sachs described Abivax's lead oral drug, obefazimod, as a "multiblockbuster" opportunity for treating inflammatory bowel disease (IBD). Analysts at the bank highlighted that the drug's clinical profile is de-risked by positive late-stage data in ulcerative colitis, a condition with significant unmet medical need.

Goldman's model projects substantial revenue potential for the treatment:

• €4 billion ($4.65 billion) in peak annual sales for the ulcerative colitis indication.
• An additional €3.5 billion in potential peak sales for Crohn’s disease, another form of IBD, with key mid-stage trial data anticipated in mid-2027.

Growing Institutional Confidence

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The bullish call from Goldman Sachs adds a prominent voice to an already positive analyst consensus, which previously consisted of 11 Buy ratings with no Hold or Sell recommendations. This development signals growing confidence from major institutional research desks in obefazimod's path to market.

This sentiment is reinforced by recent trading activity. In early September, Bank of America disclosed to France’s securities regulator that it had surpassed a 5% capital ownership threshold in Abivax. Such filings often indicate meaningful institutional accumulation and can provide support for a company's stock.

Market Context

Investors also appear to be positioning ahead of the company's next earnings report, scheduled for September 21, which could serve as a near-term catalyst. The move in Abivax shares was supported by a constructive broader market, with major U.S. indices trading higher and boosting risk appetite for clinical-stage biotechnology stocks.