Is ABIVAX Société Anonyme (ABVX) One of the Hottest Large-Cap Stocks of 2025?

Core Viewpoint - ABIVAX Société Anonyme (NASDAQ:ABVX) is gaining attention as a leading large-cap stock for 2025, with multiple firms raising their price targets significantly, indicating strong market confidence in the company's future performance [1][2]. Financial Performance - As of December 15, 2025, ABIVAX reported cash and cash equivalents of €589.7 million, a notable increase from €144.2 million at the end of 2024, primarily due to a public offering that generated approximately $700.3 million (€597.2 million) in net proceeds [3]. - The company's net loss for the first nine months of 2025 increased to €254.1 million, compared to €136.9 million during the same period in 2024, largely driven by a €25.4 million rise in R&D expenses, totaling €133.4 million [4]. Research and Development - The increase in R&D expenses is attributed to the advancement of the ABTECT Phase 3 trials for obefazimod in ulcerative colitis and Phase 2b trials for Crohn's disease [4]. - Personnel-related expenses also surged, with a €14.8 million increase in employer contributions, influenced by a significant rise in the company's share price during Q3 2025 [4]. Market Position - Piper Sandler raised its price target on ABIVAX to $142 from $112 while maintaining an Overweight rating, reflecting optimism about the company's prospects [1]. - Citizens also raised its price target to $131 from $114, keeping an Outperform rating, emphasizing the positive implications of Abivax's Q3 2025 results and operational milestones [2].