AbbVie Submits Upadacitinib for Vitiligo Treatment Approval
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 5d ago
0mins
Should l Buy ABBV?
Source: Newsfilter
AbbVie Inc. is experiencing a pre-market decline of 7.19%, hitting a 20-day low amid mixed market conditions, with the Nasdaq-100 down 0.24% and the S&P 500 up 0.10%.
The decline comes despite AbbVie's recent submission of upadacitinib for FDA and EMA approval for treating non-segmental vitiligo, following successful clinical study results that demonstrated significant improvements in skin re-pigmentation. This potential breakthrough could address a critical treatment gap for patients suffering from this chronic autoimmune disease, indicating strong future growth prospects for the company.
The market's mixed performance may have contributed to the stock's downward movement, reflecting sector rotation as investors reassess their positions in response to broader market trends.
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Analyst Views on ABBV
Wall Street analysts forecast ABBV stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ABBV is 253.26 USD with a low forecast of 218.00 USD and a high forecast of 289.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
22 Analyst Rating
15 Buy
7 Hold
0 Sell
Moderate Buy
Current: 219.020
Low
218.00
Averages
253.26
High
289.00
Current: 219.020
Low
218.00
Averages
253.26
High
289.00
About ABBV
AbbVie Inc. is a global, diversified research-based biopharmaceutical company. It is engaged in research and development, manufacturing, commercialization and sale of medicines and therapies. Its product portfolio includes Immunology, Oncology, Aesthetics, Neuroscience, Eye Care and Other Key Products. Immunology products include rheumatology, dermatology and gastroenterology. Oncology products include Imbruvica, Venclexta/Venclyxto, Elahere and Epkinly. Aesthetics portfolio consists of facial injectables, plastics and regenerative medicine, body contouring, and skincare products. Its Neuroscience products include Botox Therapeutic, Vraylar, Duopa and Duodopa, Ubrelvy, and Qulipta. Eye Care products include Ozurdex, Lumigan/Ganfort, Alphagan/Combigan, Restasis, and other eye care. Other key products include Mavyret/Maviret, Creon, and Linzess/Constella. Its investigational candidate, bretisilocin, is for the treatment of patients with moderate-to-severe major depressive disorder (MDD).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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