Morgan Stanley raised the firm’s price target on AbbVie to $196 from $191 and keeps an Overweight rating on the shares. The firm, which “slightly raised” 2024-2025 Skyrizi and Rinvoq estimates given recent IQVIA trends, notes in a Q2 earnings preview note for the Biopharma group that its Q2 estimates are slightly ahead of consensus. Emraclidine Phase 2 schizophrenia data represents the next key catalyst for AbbVie, the analyst added.
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