AbbVie Stock Falls 2% as Obesity Drug ABBV-295 Data Draws Positive Analyst Response

AbbVie shares traded down 2% during mid-day trading on Thursday, March 13, 2026, closing at $224.13 after trading as low as $223.02. The stock had previously closed at $228.72. Trading volume reached $1.26 billion with approximately 5,294,746 shares changing hands, marking a 26.85% decline from the previous day's trading activity and a 29% decline from the average daily volume of 7,508,581 shares.

The trading activity occurred as the company released data from the metabolic and diabetes portion of its Phase 1 study of ABBV-295, an amylin-based obesity treatment. The Phase 1 trial evaluated the metabolic and diabetes applications of the amylin drug candidate and involved 76 participants, predominantly male, who received varying doses of the investigational amylin analog.

BMO Capital Markets reiterated an Outperform rating and $258 price target on AbbVie stock following the obesity drug trial data. The target implies roughly 14% upside from the stock price of $225.45 for the $399 billion biotechnology giant. The firm commented that the results reflect an opportunity for AbbVie to diversify its business beyond immunology and inflammation.

The analyst noted that differences in baseline BMI and male enrollment in the study populations make comparisons to other assets like Eli Lilly's eloralintide more challenging. Efficacy even at extended dosing intervals for ABBV-295 is encouraging. Full data from the study is expected at a future medical conference, likely the American Diabetes Association meeting.

Several research analysts have recently weighed in on the stock. BMO Capital Markets reissued an "outperform" rating and issued a $258.00 target price on shares of AbbVie in a research report on Thursday, January 15th. UBS Group lowered their price objective on shares of AbbVie from $240.00 to $230.00 and set a "neutral" rating on the stock in a research report on Thursday, February 5th. DZ Bank lowered AbbVie from a "buy" rating to a "hold" rating and set a $237.00 target price for the company in a report on Tuesday, November 4th. Evercore decreased their target price on AbbVie from $232.00 to $228.00 and set an "outperform" rating for the company in a research report on Wednesday, February 4th. Piper Sandler increased their price objective on AbbVie from $289.00 to $299.00 and gave the stock an "overweight" rating in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and nine have issued a Hold rating to the company. The stock currently has a consensus rating of "Moderate Buy" and an average target price of $251.56.

AbbVie announced positive results from its Phase 1 trial of the obesity drug ABBV-295, which showed promising weight loss outcomes. Additionally, AbbVie's Skyrizi demonstrated encouraging results in a Phase 3 study for Crohn's disease, achieving clinical remission and endoscopic response in a significant portion of patients compared to placebo.

The company has unveiled plans for a $380 million investment in new manufacturing facilities in Illinois to bolster its neuroscience and obesity medication production. RBC Capital has initiated coverage on AbbVie with an outperform rating, setting a price target of $260. Barclays also initiated coverage, assigning an overweight rating with a $275 price target, highlighting AbbVie's potential for operating leverage.

AbbVie last announced its quarterly earnings results on Wednesday, February 4th. The company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.06. AbbVie had a negative return on equity of 4,184.47% and a net margin of 6.91%. The business had revenue of $16.62 billion during the quarter, compared to analyst estimates of $16.39 billion. During the same period in the previous year, the company earned $2.16 EPS. The firm's revenue was up 10.0% on a year-over-year basis. AbbVie has set its FY 2026 guidance at 14.370-14.570 EPS and its Q1 2026 guidance at 2.970-3.010 EPS.

The company has a market capitalization of $396.12 billion, a price-to-earnings ratio of 94.97, a price-to-earnings-growth ratio of 0.81 and a beta of 0.35. The firm has a 50-day simple moving average of $224.01 and a two-hundred day simple moving average of $221.68. Institutional investors and hedge funds own 70.23% of the company's stock.