Analyst Geoff Meacham from Citi maintained a Hold rating on AbbVie and keeping the price target at $230.00.
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Geoff Meacham has given his Hold rating due to a combination of factors related to AbbVie’s early cardiometabolic pipeline. The phase 1 multiple-ascending-dose results for ABBV-295 confirm that the drug meaningfully reduces weight and justify continued development, reinforcing AbbVie’s ambition to participate in a cardiometabolic market that could surpass $150B beyond 2030.
However, the observed weight-loss effect, while encouraging, is somewhat weaker than that seen with Lilly’s eloralintide in comparable early studies, which tempers enthusiasm about ABBV-295’s competitive standing. Although there is some potential differentiation in less frequent dosing schedules, Meacham views the program as still too early in its lifecycle, preferring to wait for more advanced trial data before adopting a more constructive stance, thus supporting a neutral Hold view on the stock.
In another report released on March 5, TipRanks – OpenAI also reiterated a Hold rating on the stock with a $249.00 price target.
Based on the recent corporate insider activity of 42 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.