AbbVie Soars On Skyrizi And Rinvoq Strength, Outpacing Humira Erosion

On Thursday, AbbVie Inc. (NYSE:ABBV) reported second-quarter 2025 sales of $15.42 billion on Thursday, beating the consensus of $14.98 billion.

Sales increased 6.6% on a reported basis or 6.5% on an operational basis. The company reported adjusted earnings of $2.97, up 12.1% year over year and missing the consensus of $3.23.

AbbVie raised its fiscal 2025 adjusted earnings from $11.67-$11.87 per share to $11.88-$12.08 compared to the analysts’ estimate of $12.24.

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“While management indicated that they expect some moderation in net pricing in the second half, the volume growth we are seeing from these products gives us added confidence in the company’s outlook for the second half of 2025 and the coming years,” Guggenheim Partners wrote in an investor note on Thursday.

Guggenheim updated its model to reflect the quarterly performance, including higher Skyrizi and neuroscience estimates, a steeper Humira erosion curve, and slightly lower aesthetics estimates, resulting in new 2025E revenue/EPS of $60.69 billion/$12.04, up from $60.02 billion/$11.92, respectively.

Analyst Vamil Divan says Skyrizi and Rinvoq are now tracking ahead of management’s prior long-term targets. Guggenheim expects those targets will likely be increased further by the time the company releases its fiscal 2025 earnings in February next year. The analyst reiterates a Buy rating, increasing the price forecast from $216 to $227.

“We acknowledge that the Part D Redesign provision of the Inflation Reduction Act may affect drug prices in an unexpected way in the back half of the year…However, we generally do not expect a dramatic increase in pricing pressure on ABBV’s portfolio relative to the first half of the year…,” the analyst wrote.

Mirroring the positive sentiment, Morgan Stanley has maintained AbbVie as an Overweight and has raised the price forecast from $250 to $255.

Price Action: ABBV stock is trading higher by 3.24% to $195.14 at last check Friday.

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