Abbvie stock price target raised to $250 from $236 at Raymond James

Investing.com - Raymond James has raised its price target on Abbvie (NYSE:ABBV) to $250.00 from $236.00 while maintaining an Outperform rating ahead of the company’s third-quarter earnings report on October 31. The pharmaceutical giant, currently trading at $226.87 with a market capitalization of $400.78 billion, has shown impressive momentum with a 33% gain over the past six months.

The firm expects Abbvie to deliver solid third-quarter results based on prescription trends, noting the stock has outperformed by 22% in the third quarter. This performance was attributed to strong second-quarter results for key growth drivers and generic settlements extending Rinvoq’s exclusivity. InvestingPro data shows the company maintains a healthy 71.25% gross profit margin and has consistently raised its dividend for 13 consecutive years, currently offering a 2.89% yield.

Raymond James anticipates continued strength in Abbvie’s Immunology and Neuroscience segments, a potential lift for Oncology, in-line or mixed performance for Eye Care, and ongoing headwinds in Aesthetics due to macro challenges in that market.

The firm highlighted recent pipeline progress, including Tavapadon filing for Parkinson’s disease, PVEK filing for BPDCN, and positive Rinvoq Phase 3 data in atopic dermatitis and expanded label in inflammatory bowel disease. Raymond James noted that Abbvie continues to receive minimal credit for its pipeline, which could be a multiple expander over time.

Raymond James reiterated its Outperform rating, suggesting Abbvie should remain a core holding in portfolios.

In other recent news, AbbVie has seen a series of significant developments. The company announced that the U.S. Food and Drug Administration has approved an updated indication for its drug RINVOQ, which is now available for treating adults with moderately to severely active ulcerative colitis and Crohn’s disease under specific conditions. Meanwhile, Cantor Fitzgerald has raised its price target for AbbVie to $250, citing strong performance from Skyrizi, which exceeded consensus estimates by $51 million. Piper Sandler also increased its price target for AbbVie to $284, highlighting the company’s settlements with generic filers and overall strong commercial portfolio performance. However, Erste Group downgraded AbbVie from Buy to Hold, following the company’s reduction in its full-year 2025 adjusted earnings per share guidance. Cantor Fitzgerald has maintained its Overweight rating on AbbVie, though it revised its third-quarter 2025 earnings per share estimate downward due to tax impacts from a planned IPR&D charge. These updates reflect ongoing adjustments and strategic developments within AbbVie.

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