Cantor Fitzgerald analyst Carter Gould raised the firm’s price target on AbbVie (ABBV) to $245 from $215 and keeps an Overweightrating on the shares. AbbVie announced Thursday that it had settled with ANDA filers for Rinvoq generics, paving the way for their entry in 2037, approximately 4 years later than the firm had anticipated, the analyst tells investors in a research note.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ABBV:
- AbbVie price target raised to $240 from $215 at BMO Capital
- Morning News Wrap-Up: Thursday’s Biggest Stock Market Stories!
- AbbVie’s ABBV-1088 Study: A Closer Look at Recent Developments
- AbbVie’s Rinvoq Franchise Secures Extended Exclusivity, Boosting Long-Term Prospects and Justifying Buy Rating
- ‘Really Long Runway’: AbbVie Stock (ABBV) Jumps afer Settlement on Anti-Inflammatory Drug