AbbVie Stock Popped While Market Flopped on Monday

AbbVie Inc. (ABBV) shares rallied 3.88% to $176.90 on Monday, January 28, 2025, bucking the broader market trend as the bellwether S&P 500 Index (^GSPC) sank by a relatively steep 1.5%. The pharmaceutical giant's stock price increase can be attributed to two main factors: analyst price target increases and the absence of negative news.

Before the market open, news broke of two AbbVie price target increases from analysts. Goldman Sachs raised its fair value assessment to $208 per share from the previous $205, while Piper Sandler upped its AbbVie price target to $227 per share from $220. These increases indicated that analysts remained bullish on the company's immunology products, such as Skyrizi and Rinvoq, despite lowering certain profitability estimates. Additionally, Piper Sandler's analyst, Christopher Raymond, believed that AbbVie had not included a $3.5 billion noncash, after-tax impairment charge related to its investigational antipsychotic drug emraclidine in its guidance.