Leerink Raises AbbVie (ABBV) Price Target on Strong Business Performance

AbbVie Inc. (NYSE:ABBV) ranks among the stocks with low beta that can beat market volatility. On September 24, Leerink Partners maintained its Outperform rating on AbbVie Inc. (NYSE:ABBV) and raised its price target on the company’s shares from $210 to $243. The increase comes after AbbVie Inc. (NYSE:ABBV) announced on September 11 that it had reached a settlement that would allow generic Rinvoq to be introduced in April 2037, over four years later than Leerink had previously predicted.

Leerink added “very strong current business performance” to its list of considerations, emphasizing Skyrizi’s ongoing expansion in spite of its already substantial market dominance.

The firm forecasts that as pressure from Humira biosimilars decline, Abbvie’s total top-line growth will pick up speed, rising from 8% in 2025 to 11% in 2026. Though no specifics were given, Leerink also identified three oncology pipeline candidates that would eventually contribute significantly to Abbvie’s revenue.

AbbVie Inc. (NYSE:ABBV) is a biopharmaceutical company that specializes in developing, manufacturing, and marketing therapies for complicated and chronic illnesses. Its next-generation immunology medications, Rinvoq and Skyrizi, continue to drive growth.

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Disclosure: None. This article is originally published at Insider Monkey.