Why AbbVie Stock Skyrocketed This Friday – A Surge Worth Noting
AbbVie shares ripped higher on Friday—because when Big Pharma sneezes, the market catches a cold (or a windfall).
Here’s the breakdown without the fluff:
The Catalyst: No earth-shattering news, just classic institutional FOMO. Maybe a whisper of pipeline progress or a shortsqueeze—Wall Street loves a good narrative vacuum.
The Mechanics: Volume spiked, algos piled in, and suddenly everyone’s a biotech bull. Classic case of ‘buy first, ask questions later.’
The Cynic’s Take: Another day, another stock moving on vibes rather than value. But hey—if it prints, it prints.
A bullish stampede
As typically happens when a publicly traded company posts better-than-expected quarterly results, those pundits made the positive changes a day after AbbVie published its estimates-besting second-quarter figures.
Image source: Getty Images.
None of the price-target hikes were particularly dramatic, but since they came from analysts already bullish on AbbVie, they boosted sentiment on the stock.'s Terrance Flynn now feels the shares are worth $255 apiece, up from his previous level of $250.
His peers Gary Nachman at and Guggenheim's Vamil Divan also upped their fair value assessments. In the former's case, he added $9 per share for a new price target of $236, while the latter increased his to $227 from $216. All three analysts maintained their equivalent of a buy recommendation on the stock.
Blockbuster success
Divan's note detailing his price-target change indicated the general tone of those modifications. According to reports, the pundit expressed admiration for the company's performance, singling out the growth in sales of certain blockbuster drugs, notably Skyrizi. Divan pointed out that much of this improvement was due to volume growth, meaning demand remains strong for such products.
