J.P. Morgan analyst Chris Schott maintains $AbbVie (ABBV.US)$ with a buy rating, and adjusts the target price from $210 to $200.
According to TipRanks data, the analyst has a success rate of 50.0% and a total average return of 1.4% over the past year.
Furthermore, according to the comprehensive report, the opinions of $AbbVie (ABBV.US)$'s main analysts recently are as follows:
The unexpected negative update on emraclidine's Phase 2 outcomes has led to its removal from revenue models, subsequently increasing the projections for Cobenfy's performance. Despite the adjustments, the long-term growth trajectory in terms of revenue and earnings per share is not anticipated to be significantly altered for the involved companies.
Analysts noted that the key Phase 2 data for AbbVie's emraclidine did not meet expectations, failing to show a statistically significant alteration from the baseline in the primary scale used to measure efficacy in schizophrenia studies. This outcome was contrary to forecasts, especially considering the drug was a central component of AbbVie's multi-billion-dollar acquisition and was anticipated to generate substantial sales towards the decade's end, potentially rivaling competitive products.
The anticipated outcomes of the EMPOWER 1 and 2 Emraclidine Phase 2 studies in Schizophrenia did not meet expectations, with placebo results surpassing those of the active arms in both trials. This has led to the realization that the primary value proposition of the significant acquisition is no longer viable.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
