AbbVie's stock (NYSE: ABBV) gained a new bull this morning, as Piper Sandler initiated coverage with an Overweight rating and a $231 price target. The stock has added 3.72% over the past month of trading, as bulls look to take out $200.
Piper Sandler's bullish outlook, spearheaded by analyst David Amsellem, rests on AbbVie's “enviable position” of facing no major loss of exclusivity (LOE) for its key drugs through the end of the decade. This provides a clear runway for sustained growth, particularly fueled by the expansion of its immunology drugs Skyrizi and Rinvoq, continued advancement in its oncology segment, and the durability of its neuromodulator franchise. Amsellem, in a research note, emphasized the high visibility into continued sales and EBITDA growth, reinforcing the firm's positive stance.
The $231 price target represents a substantial premium to AbbVie's current trading price and its recent consolidation in the high-$180s to low-$200s range since reaching an all-time high of $218.66 in March.
AbbVie Inc. (NYSE: ABBV) – Key Performance Metrics
Current Price
$198.64
+$0.57 (0.29%)
As of August 12, 2025
Analyst Target
$231.00
+$32.36 (16.3% upside)
Piper Sandler – David Amsellem
Q2 2025 Drug Performance
Analyst Outlook
“AbbVie is in an enviable position as it does not face a major loss of exclusivity through the end of the decade. The company's visibility into continued sales and EBITDA growth through the end of the decade is high with Skyrizi and Rinvoq expansion, visibility into growth for the oncology segment, and a durable neuromodulator franchise.”
– David Amsellem, Piper Sandler
Latest Operational Developments
AbbVie's recent Q2 2025 earnings report helps support the bullish case, with a beat and raise quarter showing strong sales of Skyrizi ($4.42 billion, exceeding estimates) and Rinvoq ($2.03 billion, also above projections). The company now anticipates adjusted earnings per share for 2025 to range between $11.88 and $12.08, up from the earlier forecast of $11.67 to $11.87.
The company has also been actively pursuing strategic acquisitions and licensing agreements to bolster its pipeline and diversify its revenue streams. The acquisition of Capstan Therapeutics for up to $2.1 billion, focused on CAR-T cell therapies for autoimmune disorders, and the exclusive licensing agreement with Ichnos Glenmark Innovation (IGI) for ISB 2001, a trispecific antibody for multiple myeloma, highlight this proactive approach.
The IGI deal involves a $700 million upfront payment and potential milestone payments of up to $1.225 billion, plus tiered royalties. Recent reports also indicate potential acquisition talks with Gilgamesh Pharmaceuticals, a private firm focused on mental health therapeutics, in a deal valued at approximately $1 billion, further demonstrating AbbVie's interest in expanding its portfolio into the mental health sector.
Technical and Valuation Perspective
From a technical perspective, aggregated indicators currently show a “Buy” signal for AbbVie on daily, weekly, and 1-month timeframes. The stock is trading below its March peak but generally above recent short- and medium-term moving averages, suggesting underlying positive momentum. Investors often monitor the 50-day and 200-day moving averages for trend confirmation.
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