William Blair analyst Matt Phipps has reiterated their bullish stance on ABBV stock, giving a Buy rating on October 28.
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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’s third-quarter results exceeded expectations, with adjusted diluted EPS and total revenue surpassing both the firm’s and consensus estimates. This positive performance was primarily driven by the impressive year-over-year growth of Skyrizi and Rinvoq, which offset the decline in Humira sales.
Additionally, AbbVie’s neuroscience franchise, particularly Botox Therapeutic, showed robust growth, further contributing to the company’s revenue. Despite challenges in the aesthetics franchise, management’s decision to raise the full-year 2025 adjusted diluted EPS guidance indicates confidence in future earnings. The continued success of Skyrizi and Rinvoq, along with potential growth from the Parkinson’s disease franchise, positions AbbVie well for sustained growth, justifying the Buy rating.
In another report released on October 28, Piper Sandler also maintained a Buy rating on the stock with a $284.00 price target.
Based on the recent corporate insider activity of 49 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.