On Friday, Portzamparc downgraded its recommendation on Abivax shares from 'buy' to 'hold', following the stock's 'exceptional' performance since the start of the year.

The research firm, which explains that it is waiting for more attractive entry points, says it remains optimistic about the biotech company's future developments.

Referring to a possible "success story" in the making, the analyst stresses that the excellent clinical results unveiled recently are leading him to be more aggressive in his assumptions.

He thus raises the potential market share of obefazimod, the company's main drug candidate, in ulcerative colitis (UC) from 12.5% to 15%, which leads him to raise his target price on the stock from 15.5 to 17 euros.

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