Abivax's latest data should ease investors' concerns about the safety of its lead drug candidate for ulcerative colitis, increasing the likelihood of a takeover, Stifel analysts say in a research note. A sale to a big pharma company now looks more credible than ever, according to Stifel. "In light of this compelling data package and the scarcity of late-stage assets in [ulcerative colitis], we believe Abivax stands out as an attractive potential M&A candidate," the analysts say. The French biotech company could fetch a valuation of roughly 15 billion to 25 billion euros in a potential takeover, the analysts estimate. Stifel raises its target price on Abivax stock to 175 euros from 115 euros, and sees an 80% probability of a takeover compared with 70% previously. Abivax shares closed at 117.50 euros on Wednesday, giving the company a market value of 9.4 billion euros. (adria.calatayud@wsj.com)