AbbVie Inc. (ABBV) Collaborates with Genmab, Thriving in Long Term - Mizuho

Mizuho Securities analyst Vamil Divan reiterated a Buy rating and $101.00 price target on Abbvie (NYSE: ABBV), citing the Allergan deal, collaboration with Genmab, and phase 2 data for ABBV-3373, which has proven positive and has potential for broad applicability.

The analyst stated "AbbVie released two important pieces of news this morning, first announcing a broad collaboration with Genmab for the development and potential commercialization of three bispecific antibodies for a range of oncology indications, followed by initial Phase 2a data for ABBV-3373, their anti-TNF Glucocorticoid Receptor Modulator (GAM) steroid antibody drug conjugate. We have experienced increased interest in the name from new investors following the close of the Allergan deal about a month ago, and believe today's news may provide some added comfort to investors who are wondering about the company's outlook in 2023 and beyond once Humira begins to face direct biosimilar competition in the US."

For an analyst ratings summary and ratings history on Abbvie click here. For more ratings news on Abbvie click here.

Shares of Abbvie closed at $96.17 yesterday.

You May Also Be Interested In

• Wolfe Research Upgrades Abbvie (ABBV) to Outperform
• Intuitive Machines Inc. (LUNR) PT Lowered to $32 at Cantor Fitzgerald, Reaffirms Overweight Rating
• Piper Sandler Reiterates Overweight Rating on Estee Lauder (EL), 'F4Q26 Preview'