- The shares of AbbVie Inc (NYSE: ABBV) have received a $160 price target from Piper Sandler. These are the details.
The shares of AbbVie Inc (NYSE: ABBV) have received a $160 price target from Piper Sandler. And Piper Sandler analyst Christopher Raymond is maintaining an “Overweight” rating on the shares.
Raymond made the adjustment after the FDA approved Rinvoq with a better than expected atopic dermatitis label. Plus Raymond noted that with what seems to be benign warning language and flexibility on dosing, the firm believes the drug is now primed for capitalizing on what has been largely positive dermatologist survey feedback.
Going forward, Raymond noted that he would not be shocked to see meaningful upside for the drug this year. Of the $2.15 billion fiscal 2022 U.S. revenue estimate for Rinvoq, Raymond explained that only $140 million derives from atopic dermatitis.
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