AbbVie Is 'Successfully Positioned To Absorb Humira Biosimilar Erosion': Analyst
Portfolio Pulse from Vandana Singh
Cantor Fitzgerald has initiated coverage on AbbVie Inc (NYSE:ABBV) with an Overweight rating and a price target of $200, citing the company's ability to absorb Humira biosimilar erosion and achieve modest revenue growth. The analyst expects robust growth to resume in 2025, with a high single-digit CAGR from 2024 to 2029. Additionally, Bristol-Myers Squibb Co (NYSE:BMY) is expected to bring KarXT to market before AbbVie's emraclidine, although emraclidine may have advantages in dosing frequency, safety, and efficacy.
May 17, 2024 | 5:47 pm
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POSITIVE IMPACT
Cantor Fitzgerald has initiated coverage on AbbVie with an Overweight rating and a $200 price target. The analyst believes AbbVie is well-positioned to handle Humira biosimilar erosion and expects robust growth to resume in 2025.
The Overweight rating and $200 price target from Cantor Fitzgerald are positive signals for investors. The analyst's confidence in AbbVie's ability to manage Humira biosimilar erosion and achieve growth supports a likely upward movement in the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Bristol-Myers Squibb is expected to bring KarXT to market before AbbVie's emraclidine, potentially becoming the leading antipsychotic drug. However, emraclidine may have advantages in dosing frequency, safety, and efficacy.
The expectation that Bristol-Myers Squibb's KarXT will come to market before AbbVie's emraclidine is a positive development for BMY. However, the potential advantages of emraclidine could create competition, slightly tempering the positive impact.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50