William Blair analyst Matt Phipps has maintained their bullish stance on ABBV stock, giving a Buy rating on April 22.
Matt Phipps has given his Buy rating due to a combination of factors that highlight AbbVie’s strong financial performance and growth potential. The company reported first-quarter earnings that exceeded both consensus and internal estimates, with adjusted diluted EPS and total revenue surpassing expectations. This positive performance was largely driven by significant year-over-year growth in key products such as Skyrizi and Rinvoq, which demonstrated robust demand and market presence.
Moreover, despite a decline in Humira’s revenue due to increased competition from biosimilars, AbbVie’s overall immunology, heme/onc, and neuroscience franchises outperformed estimates. The management’s decision to raise the 2025 guidance further underscores confidence in the company’s future prospects, although it does not yet factor in potential impacts from recent licensing deals. These elements collectively contribute to the optimism surrounding AbbVie’s stock, justifying the Buy rating.
According to TipRanks, Phipps is an analyst with an average return of -11.4% and a 33.33% success rate. Phipps covers the Healthcare sector, focusing on stocks such as Bristol-Myers Squibb, Incyte, and Kezar Life Sciences.
In another report released on April 22, Cantor Fitzgerald also initiated coverage with a Buy rating on the stock with a $210.00 price target.