BMY - AbbVie Is 'Successfully Positioned To Absorb Humira Biosimilar Erosion': Analyst | Benzinga
Cantor Fitzgerald has initiated coverage on AbbVie Inc (NYSE:ABBV), a global pharma company.
The analyst notes that the company has positioned itself to absorb Humira biosimilar erosion and achieve modest operational revenue growth.
Related: Ex-Humira Growth Platform Drives AbbVie’s Q1 Performance, Drugmaker Lifts Annual Profit Outlook.
Cantor expects robust growth to resume in 2025, with projections aligning with management’s long-term guidance of a high single-digit compound annual growth rate (CAGR) from 2024 to 2029.
This forecast follows one of the largest losses of exclusivity (LOE) in the pharmaceutical industry.
The analyst has initiated the coverage with an Overweight rating, with a price target of $200.