Barclays Initiates AbbVie (ABBV) with Overweight Rating on Growth Potential

AbbVie Inc. (NYSE:ABBV) is included among the 14 Best Low Volatility Dividend Stocks to Invest in.

Barclays Initiates AbbVie (ABBV) with Overweight Rating on Growth Potential

On February 20, Barclays began coverage of AbbVie Inc. (NYSE:ABBV) with an Overweight rating. It set a price target of $275 on the stock. The firm said current consensus estimates do not fully reflect AbbVie’s operating leverage potential. In its note, Barclays added that positive results from any of the company’s proof-of-concept studies could lead to further upside, as successful outcomes may drive multiple expansion in the stock.

The same day, AbbVie announced an important regulatory approval. The US Food and Drug Administration approved a supplemental new drug application for the combination of VENCLEXTA® (venetoclax) and acalabrutinib. This regimen is now approved for adult patients with chronic lymphocytic leukemia (CLL) who have not received prior treatment. The approval was supported by results from the Phase 3 AMPLIFY trial.

This marks a meaningful development in first-line CLL treatment. The VENCLEXTA and acalabrutinib combination is now the first and only all-oral, fixed-duration regimen available for previously untreated patients. It gives patients the possibility of completing treatment and spending time off therapy, while also offering doctors a targeted option that combines two oral therapies designed to treat the disease more effectively.

AbbVie Inc. (NYSE:ABBV) is a global biopharmaceutical company focused on research, development, and commercialization of medicines. Its portfolio spans several major areas, including immunology, oncology, aesthetics, neuroscience, and eye care, along with other key therapeutic products.

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Disclosure: None.