AbbVie Shares Rise 1.72% in Three Days as Mavyret Secures FDA Approval for Expanded Use Ranking 53rd in Market Activity

AbbVie (ABBV) shares rose 0.48% on June 12, 2025, marking the third consecutive day of gains, with a total increase of 1.72% over the past three days. The trading volume reached 11.06 billion, ranking 53rd in the day's market activity.

AbbVie has secured a significant milestone with the FDA's approval of an expanded indication for its antiviral drug, Mavyret. This approval allows Mavyret to be used as the first and only oral eight-week treatment for both acute and chronic hepatitis C, targeting patients as young as three years old. The decision is based on successful Phase 3 trial results that demonstrated the drug's efficacy and safety in treating acute infections.

The expanded use of Mavyret is expected to enhance treatment options for a broader range of hepatitis C patients, including younger individuals. This development aligns with AbbVie's strategic efforts to strengthen its position in the hepatitis C treatment market. The company's collaboration with Enanta Pharmaceuticals has been instrumental in achieving this regulatory success.

Analysts have shown optimism regarding AbbVie's future prospects. The average one-year price target for AbbVie is $211.65, with a potential upside of 9.94% from the current trading price. Brokerage firms have also given AbbVie an "Outperform" status, reflecting a positive market sentiment. However, GuruFocus provides a more cautious estimate, projecting a GF Value of $174.90, which implies a downside of 9.15% from the current price.