Argus upgraded AbbVie (ABBV) to Buy from Hold with a $220 price target Two of the company’s key immunology products, Skyrizi and Rinvoq, have succeeded Humira as growth engines, with the former having grown its Q3 sales 52% on an operational basis to $3.21B, and the sales of the latter rising 47% to $1.61B, the analyst tells investors in a research note. Other products within the company’s portfolio also continue to produce solid returns, leading to growth across both the Neuroscience and Aesthetics portfolios, Argus notes, adding that AbbVie’s margins have also stabilized, with the adjusted gross margin rising 90 basis points to 84.4%.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on ABBV:
- AbbVie upgraded to Buy from Hold at Argus
- Is AbbVie (NYSE:ABBV) Stock a Buy After Its Dividend Hike?
- AbbVie price target raised to $200 from $195 at UBS
- AbbVie, EvolveImmune Therapeutics announce collaboration
- AbbVie, EvolveImmune announce collaboration, option-to-license agreement
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
