AbbVie Immunology Portfolio Poised For Growth Through Humira Erosion: Analyst
On Friday, AbbVie Inc (NYSE:ABBV) reported an adjusted EPS of $2.46, up 6.5% year over year and beating the consensus of $2.38.
The pharmaceutical giant reported sales of $13.34 billion, up 8.4% on a reported basis (+9.8% on an operational basis), beating the consensus of $12.92 billion.
It reported adjusted earnings per share of $2.46, beating the street view of $2.38.
BMO Capital Markets writes that every quarter seems to tell the same story. Analysts think they’ve accurately factored in Skyrizi and Rinvoq’s growth, only for AbbVie to outperform expectations once again.
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In the first quarter of 2025, Skyrizi and Rinvoq beat consensus estimates by 7% and 8%, respectively.
- Skyrizi sales increased 70.5% (+72%) to $3.425 billion.
- Rinvoq sales reached $1.72 billion, an increase of 57.2% (+59.7%).
“While we are still carefully watching the launch of Johnson & Johnson’s (NYSE:JNJ) Tremfya as it begins to build momentum, 1Q25 demonstrated the prowess of AbbVie’s commercial contracting team again, pushing us to again revise our estimates higher for the two products. With Skyrizi now capturing 1 in 3 in place UC patients, we highlight that the company’s I&I portfolio appears poised to continue growing through more significant Humira erosion,” analyst Evan David Seigerman writes.
Seigerman writes that AbbVie appears well-positioned to manage through Humira’s U.S. patent loss. With the acquisition of ImmunoGen and Cerevel, AbbVie is well-positioned to capitalize on Elahere’s growth and key readouts for emeraldine/tavapadon.
Vyalev was a minor contributor to AbbVie’s overall beat, but BMO Capital writes that investors may be underappreciating its growth and upside. With Medicare reimbursement not yet in place, the analyst sees more upside to analyst estimates over the coming quarters. Advancements with Vyalev appear to pair well with Cerevel’s tavapadon, which could also be commercialized in 2026, meaningfully expanding the company’s Parkinson’s portfolio.
Vyalev is a prescription medication used to treat motor fluctuations in adults with advanced Parkinson’s disease.
- BMO maintains the Outperform rating and a price target of $215.
- Morgan Stanley maintains AbbVie with an Overweight, raising the price target from $241 to $250.
- Evercore ISI Group keeps the Outperform rating for AbbVie, raising the price target from $204 to $205.
Price Action: ABBV stock is up 2.54% at $190.79 at the last check Monday.
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