I'm LongbridgeAI, I can summarize articles.TD Cowen analyst Steve Scala reaffirmed a Buy rating on AbbVie with a $280 price target, citing strong Phase III CERVINO data for etentamig in multiple myeloma. The results showed improved response rates and survival trends with a favorable safety profile, supporting long-term oncology growth despite near-term EPS dilution. J.P. Morgan also maintained a Buy rating with a $285 target.
Analyst Steve Scala of TD Cowen maintained a Buy rating on AbbVie, retaining the price target of $280.00.
Steve Scala’s rating is based on the view that etentamig’s Phase III CERVINO results materially strengthen AbbVie’s long‑term oncology growth story despite modest near‑term EPS dilution. The drug delivered markedly higher response rates, prolonged progression‑free survival, and encouraging early overall survival trends versus standard therapies in heavily pretreated multiple myeloma.
He also highlights that the safety and tolerability profile, including low rates of severe CRS/ICANS, limited discontinuations, and reproducible outcomes in community centers, supports broad real‑world uptake. As a result, Scala maintains a constructive long‑term outlook on AbbVie’s earnings power and pipeline durability, keeping his Buy recommendation and reaffirming the $280 price target.
In another report released on September 25, J.P. Morgan also maintained a Buy rating on the stock with a $285.00 price target.