Louis Navellier’s Top 10 Long-Term Stock Picks

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6. AbbVie Inc. (NYSE:ABBV)

Navellier & Associates Equity Stake: $6.16 Million

Navellier & Associates’ First Major Purchase: Q1 2016

Number of Hedge Fund Holders: 84

AbbVie Inc. (NYSE:ABBV) is one of Louis Navellier’s top long-term stock picks. On May 14, Piper Sandler reiterated an Overweight rating on AbbVie (NYSE: ABBV), buoyed by the company’s inflammatory bowel disease (IBD) pipeline.

The research firm also raised its price target to $298 from $294, as management moves forward with Skyrizi in combination with its novel α4β7-directed antibody, ABBV-382. According to Piper Sandler, the advancement of novel combination approaches in IBD is a welcome development that strengthens AbbVie’s edge, given the competitive nature of the IBD drug development landscape.

Abbvie has already delivered and presented top-line findings affirming SKYRIZ as a potential treatment in Crohn’s disease and ulcerative colitis. It has also reiterated its focus on advancing the understanding of IBD to raise the standard of care through scientific innovation and a broad portfolio.

AbbVie has also made an application to the U.S. Food and Drug Administration (FDA) seeking approval for Skyrizi for subcutaneous (SC) induction in the treatment of adult patients with Crohn’s disease (CD).

AbbVie Inc. (NYSE:ABBV) is a global biopharmaceutical company that discovers, develops, and markets advanced therapies to treat complex, severe health conditions. The company focuses on specialized areas, including immunology, oncology, neuroscience, eye care, and aesthetics, aiming to improve patient health outcomes worldwide.

While we acknowledge the potential of ABBV to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ABBV and that has 100x upside potential, check out our report about the cheapest AI stock.

Click to continue reading and see the Louis Navellier’s Top 5 Long-Term Stock Picks.

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