Abbvie (ABBV) PT Lowered to $294 at Piper Sandler

Piper Sandler analyst David Amsellem lowered the price target on Abbvie (NYSE: ABBV) to $294.00 (from $299.00) while maintaining an Overweight rating.

The analyst commented: "ABBV has become a bit controversial, but we are making a case for why there is no need for worry. The worry on AbbVie (ABBV; Overweight), as we see it, is driven in part by the rollout of oral IL-23-directed treatment Icotyde by Jonhson & Johnson (JNJ; not covered) in the psoriasis setting, and how it could impact the trajectory of Skyrizi (for reference, total prescriptions (Rx) for the 150 mg/mL presentations of the product are showing a healthy year-to-date growth rate of ~26%, per IQVIA; refer to our note on 3/25/26 for more details). We have three thoughts here: (1) we would expect that Icotyde will likely expand the overall footprint of the IL-23 category; (2) Skyrizi penetration in inflammatory bowel disease (IBD) is still quite low; and (3) though consensus estimates on Skyrizi may have caught up with its growth trajectory, there are other parts of the business where that is not the case (Vyalev in Parkinson’s is a key case in point)."

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