Abbvie stock price target raised to $258 from $240 at BMO Capital

Investing.com - BMO Capital has raised its price target on Abbvie (NYSE:ABBV) to $258.00 from $240.00 while maintaining an Outperform rating ahead of the company’s third-quarter earnings report. The biotechnology giant, currently trading at $229.57 and near its 52-week high, has demonstrated strong momentum with a 34.82% return over the past six months.

The firm’s analysis focuses on Abbvie’s Immunology & Inflammation (I&I) business, noting that prescription trends indicate consistent revenues despite growing competitive pressures in the market.

BMO Capital observed that Abbvie’s key drugs Skyrizi and Rinvoq outperformed expectations in the previous quarter, despite pricing headwinds, primarily due to strong patient capture and 340B program adjustments.

Year-over-year prescription data shows consistency for Skyrizi (44% in both Q1 and Q2 2025) and relative stability for Rinvoq (38% in Q1 2025 vs. 36% in Q2 2025), according to the firm’s research.

For Q3 2025, BMO Capital is projecting largely flat revenues for Skyrizi at approximately $4.572 billion and modest growth for Rinvoq, with estimates of $2.170 billion compared to the consensus of $2.162 billion, factoring in reduced revenue benefits from 340B reform and continued pricing challenges for Rinvoq.

In other recent news, AbbVie has been the focus of several significant developments. Guggenheim raised its price target for AbbVie to $242, citing an extended timeline for Rinvoq’s U.S. exclusivity until April 2037 following legal settlements. Additionally, AbbVie announced that its JAK inhibitor, Rinvoq, outperformed Humira in a Phase 3b/4 study for rheumatoid arthritis, showcasing superior efficacy. Furthermore, AbbVie completed the acquisition of bretisilocin, a psychedelic compound from Gilgamesh Pharmaceuticals, which is in Phase 2 clinical development for major depressive disorder.

Raymond James also increased its price target for AbbVie to $250, maintaining an Outperform rating and expecting solid third-quarter results based on prescription trends. Cantor Fitzgerald reiterated its Overweight rating and $250 price target, adjusting its earnings model due to tax impacts from a planned IPR&D charge. These developments come as AbbVie prepares for its third-quarter earnings release on October 31. Investors are closely watching these updates as they provide insights into AbbVie’s strategic direction and financial health.

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