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 48.6% and a total average return of 8.1% over the past year.
Furthermore, according to the comprehensive report, the opinions of $AbbVie (ABBV.US)$'s main analysts recently are as follows:
The recent update on emraclidine's Phase 2 results was unexpected and led to its removal from revenue models, consequently increasing Cobenfy estimates for a competitor. Despite these adjustments, the overall revenue and EPS growth trajectory for the stock remains unchanged.
Analysts were caught off guard when pivotal Phase 2 data for AbbVie's emraclidine did not show a statistically significant difference from the baseline in the Positive and Negative Symptom Scale total score in the EMPOWER-1 and - 2 studies for schizophrenia. This was a key anticipated product from AbbVie's major acquisition, which was expected to challenge its competitors strongly with projected sales reaching billions towards the decade's end. Consequently, emraclidine has been removed from the sales projections.
The reduction in the anticipated value of AbbVie following the EMPOWER 1 and 2 Emraclidine Phase 2 study outcomes in Schizophrenia is noteworthy. The studies revealed that the placebo outperformed both active arms, indicating that the primary worth proposition from the significant acquisition is now considered defunct.
Note:
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