AbbVie’s Promising Growth: A Buy Rating Backed by Robust R&D and Strategic Advancements

Analyst Mohit Bansal from Wells Fargo maintained a Buy rating on AbbVie (ABBV – Research Report) and keeping the price target at $240.00.

Mohit Bansal has given his Buy rating due to a combination of factors that highlight AbbVie’s promising future. The company’s research and development pipeline is particularly noteworthy, with several mid-stage projects expected to mature in the next 12 to 24 months. AbbVie’s focus on immunology and inflammation, particularly with Rinvoq and Lutikizumab, shows potential for significant advancements in treatment options.
Additionally, AbbVie’s efforts in the inflammatory bowel disease space and its strategic moves in neuroscience, such as the promising Tavapadon data, further bolster its growth prospects. The company’s obesity strategy, leveraging amylin to address tolerability issues, also indicates potential market expansion. AbbVie’s commitment to both internal R&D and external business development positions it well for sustained growth, making it an attractive investment opportunity.

In another report released on June 3, Morgan Stanley also maintained a Buy rating on the stock with a $250.00 price target.

Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ABBV in relation to earlier this year.