AbbVie Pipeline Boosted by Ovarian Cancer Trial, Neuroscience Sales Surge 22%
AbbVie’s ELAHERE drug achieved positive Phase 2 results in recurring ovarian cancer, prompting Guggenheim to boost its price target to $249—an 18.49% upside from recent levels. Neuroscience sales, driven by Botox and Vraylar, are projected to jump 22% in Q1, supporting top-line growth.
1. Positive ELAHERE Phase 2 Trial Results
AbbVie’s ELAHERE drug was tested in combination with another agent followed by monotherapy in patients with recurrent ovarian cancer, showing encouraging efficacy signals and a manageable safety profile. These results address a high unmet need and set the stage for future registrational studies and regulatory submissions in the U.S. and EU.
2. Analyst Price Target Increase to $249
Guggenheim reiterated a Buy rating and raised its price target to $249 from $242, implying an 18.49% potential upside based on the stock’s prior closing level of $210.15. The upgrade reflects confidence in ELAHERE’s commercial potential and the broader oncology pipeline.
3. Q1 Neuroscience Sales Growth Estimate
Neuroscience revenues are expected to climb 22% in the first quarter, led by strong demand for Botox and Vraylar, which offset declines in older assets. This jump underlines AbbVie’s ability to drive top-line growth through new and established therapies in its neuroscience franchise.