Leerink Partners analyst David Risinger has maintained their bullish stance on ABBV stock, giving a Buy rating on June 30.
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David Risinger has given his Buy rating due to a combination of factors related to AbbVie’s strategic acquisition of Capstan Therapeutics. This acquisition is significant as it brings in Capstan’s innovative in vivo CAR-T therapy platform, which is focused on developing treatments for B cell-mediated autoimmune diseases. The lead asset, CPTX2309, is currently in Phase 1 trials and shows promise as a first-in-class therapy, with the potential to effectively target and deplete B cells while maintaining safety.
Additionally, the acquisition includes Capstan’s CellSeeker tLNP platform, which has the capability to deliver RNA payloads for cell engineering in vivo. This platform is believed to have extensive applications beyond autoimmune diseases, potentially broadening AbbVie’s therapeutic reach. These strategic moves are viewed positively, supporting the Buy rating on AbbVie shares.
According to TipRanks, Risinger is a 5-star analyst with an average return of 8.1% and a 52.34% success rate. Risinger covers the Healthcare sector, focusing on stocks such as Eli Lilly & Co, Regeneron, and Amgen.
In another report released on June 30, BMO Capital also maintained a Buy rating on the stock with a $215.00 price target.