Cantor Fitzgerald maintains Overweight rating on Abbvie with PT raised to $245.

Cantor Fitzgerald maintains Overweight rating on Abbvie with PT raised to $245.

Cantor Fitzgerald has updated its rating on AbbVie Inc. (NYSE:ABBV) to Overweight and raised its price target to $245. The research firm's latest assessment comes amidst a series of positive developments for the pharmaceutical giant, including a significant settlement related to its Rinvoq medication and recent acquisitions that are expected to bolster its therapeutic portfolio.

According to Cantor Fitzgerald, the settlement with abbreviated New Drug Application (aNDA) filers, which prevents generic versions of Rinvoq from entering the U.S. market before April 2037, extends the drug's exclusivity period. This extended exclusivity is seen as a significant advantage, as the final years of brand exclusivity often see peak sales with limited associated R&D spending and stable or decreasing sales and marketing support. Piper Sandler, another research firm, has projected that Rinvoq will generate annual U.S. sales exceeding $10 billion by 2030, highlighting the value of the extended patent protection Piper Sandler reiterates Overweight rating on Abbvie stock at $231 target^[1].

In addition to the settlement, AbbVie has reported several significant developments. The company recently announced the results of its Phase 2 EPCORE NHL-6 trial, demonstrating the feasibility of administering epcoritamab for relapsed/refractory diffuse large B-cell lymphoma in outpatient settings. AbbVie also declared a quarterly dividend of $1.64 per share, set to be paid on November 14, 2025. Furthermore, AbbVie plans to acquire Gilgamesh Pharmaceuticals' bretisilocin, a psychedelic therapy for major depressive disorder, in a deal valued at up to $1.2 billion. These updates reflect AbbVie's ongoing efforts to expand its therapeutic portfolio and maintain a strong financial position Piper Sandler reiterates Overweight rating on Abbvie stock at $231 target^[1].

Investor interest in AbbVie has been bolstered by increased holdings from several major institutional investors. Vanguard Group Inc. and Goldman Sachs Group Inc. have significantly increased their positions in the company, with Vanguard now owning 173.9 million shares and Goldman Sachs increasing its stake by 31.6% in the first quarter. Additionally, Northern Trust Corp, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC, and other hedge funds have also bought and sold shares of ABBV. These developments underscore the growing confidence in AbbVie's future prospects Teamwork Financial Advisors LLC Has $595,000 Stock Holdings in AbbVie Inc. $ABBV^[2].

Despite the positive developments, AbbVie faces competition from other pharmaceutical companies and the potential for generic drug entry in the future. However, the company's strong financial health, as indicated by its market capitalization of $387 billion, and its recent strategic moves, suggest that it is well-positioned to navigate these challenges Piper Sandler reiterates Overweight rating on Abbvie stock at $231 target^[1].

Cantor Fitzgerald's updated rating and price target reflect the firm's optimism about AbbVie's future prospects, particularly in light of the recent settlement and acquisitions. The Overweight rating indicates that the firm believes AbbVie offers attractive investment opportunities, while the raised price target of $245 suggests that the firm expects the company's stock price to increase significantly in the coming months.