Freedom Broker experts expect U.S. biopharmaceutical company AbbVie Inc. (ABBV) to once again beat forecasts and raise its financial guidance thanks to steady sales growth of Skyrizi and Rinvoq. The analysts maintained their “Buy” rating and raised the target price from $260 to $285. At the current quote of $259,3, this implies upside potential of about 9,9%.
AbbVie develops medicines in key therapeutic areas
AbbVie is an international biopharmaceutical company specializing in the development and manufacture of medicines in immunology, neuroscience, oncology, and aesthetic medicine. The company is building several major sources of growth, among which Skyrizi and Rinvoq play a particularly important role, as well as a developing neuroscience portfolio.
Skyrizi and Rinvoq remain the main driver
According to Freedom Broker, the performance of the two key immunology drugs will determine AbbVie’s results in Q2 2026.
Rinvoq is a prescription drug used to suppress excessive immune system activity in various inflammatory diseases. It is used, among other things, to treat rheumatoid and psoriatic arthritis, atopic dermatitis, and inflammatory bowel diseases, including ulcerative colitis and Crohn’s disease.
Skyrizi is a modern biologic whose active ingredient is risankizumab. Injections are used to treat severe chronic inflammatory diseases, including plaque psoriasis, psoriatic arthritis, Crohn’s disease, and ulcerative colitis.
In Q1, AbbVie’s net revenue totaled $15 bn, up 12,4% year over year. On a comparable operational basis, growth was 10,3%. Revenue from the immunology portfolio rose 16,4% YoY to $7,3 bn, or 14,3% on an operational basis. Skyrizi sales reached $4,5 bn, Rinvoq — $2,1 bn, and Humira — $688 mln.
Analysts expect Skyrizi sales revenue in Q2 to reach $5,4 bn, up 23% YoY, while Rinvoq will bring in $2,4 bn — 19% more than a year earlier. Strong prescription dynamics and expanded indications reinforce our expectations for further acceleration in growth of AbbVie’s key drugs, Freedom Broker analysts note.
The company expects to generate $21,6 bn in 2026 revenue from Skyrizi and $10,2 bn from Rinvoq. Freedom Broker believes these targets are achievable thanks to steady growth in prescriptions and an expanding potential patient base.
Recent regulatory decisions provided additional support. Skyrizi received FDA (U.S. Food and Drug Administration) approval for use in patients aged six and older with moderate to severe plaque psoriasis or active psoriatic arthritis. Rinvoq received a positive opinion from the European regulator on new indications, including severe alopecia areata and non-segmental vitiligo.
Q2 revenue could reach $16,7 bn
Freedom Broker forecasts AbbVie’s Q2 revenue at $16,7 bn. Expectations for adjusted EPS were lowered from $3,73 to $3,60 following the company’s updated outlook.
AbbVie previously lowered its Q2 adjusted EPS guidance to $3,57–3,61 from $3,74–3,78. The main reason was one-time expenses of $291 mln related to acquired in-process research and development at an early stage, as well as milestone payments. The adjusted EPS guidance for 2026 was reduced to $13,91–14,11 from $14,08–14,28. However, analysts do not rule out a further increase in the company’s guidance following Q2 results if operating performance is strong.
Tavapadon could become a new major source of growth
Analysts also consider the drug Tavapadon for Parkinson’s disease as another important catalyst for the stock. An application for its registration was submitted in September 2025, and an FDA decision is expected in the second half of 2026.
If approved, Tavapadon will become AbbVie’s second major drug in Parkinson’s disease treatment after Vyalev. At the same time, according to Freedom Broker, Vyalev sales may exceed $1 bn as early as 2026.
Tavapadon could potentially take a meaningful place in the market thanks to its selective mechanism of action and the possibility of use at different stages of the disease. A successful launch could add another multi-billion-dollar asset for AbbVie.
Analysts raised the target price to $285
Freedom Broker changed its approach to valuing AbbVie, moving from a combined discounted cash flow and multiples model to a valuation based on 2027 forward multiples.
Amid improved market conditions in the healthcare sector, analysts raised target ratios: forward P/E — from 15x to 18x, and EV/Sales — from 5x to 7x. As a result, AbbVie’s target share price was raised from $260 to $285.
At the same time, among the main risks analysts highlight an ускорение decline in sales of the inflammatory joint disease drug Humira due to competition from biosimilars, possible pressure on drugs from price regulation, weak performance in certain segments, and the potential impact of U.S. and China tariffs.
AbbVie expands future sources of growth
AbbVie’s latest corporate decisions confirm the company’s strategy to expand its portfolio: in June, AbbVie agreed to acquire biotech company Apogee Therapeutics (APGE) for about $10,9 bn. The deal will provide several clinical programs in inflammatory and immunological diseases, including the experimental drug zumilokibart for atopic dermatitis and other developments for asthma therapy. Closing is expected in Q3 2026.
The company also continues to invest in its own manufacturing infrastructure. AbbVie allocated $380 mln to build two new plants in North Chicago that will produce active pharmaceutical ingredients for drugs in neuroscience and obesity treatment. Commissioning is scheduled for 2029.
Not an individual investment recommendation.