BMO Capital analyst Evan Seigerman maintains $AbbVie (ABBV.US)$ with a buy rating, and adjusts the target price from $220 to $208.
According to TipRanks data, the analyst has a success rate of 46.2% and a total average return of 7.3% over the past year.
Furthermore, according to the comprehensive report, the opinions of $AbbVie (ABBV.US)$'s main analysts recently are as follows:
The revision of expectations for AbbVie followed an unexpected update on their Phase 2 study of emraclidine. After removing emraclidine from the projection and adjusting the estimates for Cobenfy for another company, the total anticipated revenue for 2033 has increased by 7%. This alteration, however, is not expected to significantly affect the overall revenue or earnings per share growth trajectory for either company.
The pivotal Phase 2 data for AbbVie's emraclidine did not meet expectations, failing to show a statistically significant change from baseline in the Positive and Negative Symptom Scale total score in studies for schizophrenia. This was a key factor in AbbVie's acquisition of Cerevel, with emraclidine projected to generate substantial sales and compete against Coben. The analyst has since removed emraclidine from their financial model.
The firm acknowledges that the outcomes of the EMPOWER 1 and 2 Emraclidine Phase 2 studies in Schizophrenia, where placebo outperformed both active arms in both trials, have led to the realization that the central value proposition of the significant acquisition is effectively negated.
Note:
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