AbbVie Stock Popped While Market Flopped on Monday
Monday, Jan 27, 2025 6:35 pm ET
1min read 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.
Disclaimer: The news articles available on this platform are generated in whole or in part by artificial intelligence and may not have been reviewed or fact checked by human editors. While we make reasonable efforts to ensure the quality and accuracy of the content, we make no representations or warranties, express or implied, as to the truthfulness, reliability, completeness, or timeliness of any information provided. It is your sole responsibility to independently verify any facts, statements, or claims prior to acting upon them. Ainvest Fintech Inc expressly disclaims all liability for any loss, damage, or harm arising from the use of or reliance on AI-generated content, including but not limited to direct, indirect, incidental, or consequential damages.
