AbbVie Inc. (NYSE: ABBV) stock traded higher on Monday, December 15, 2025, as investors balanced fresh analyst commentary with new exclusivity-related headlines tied to one of the company’s neuroscience brands. Shares were recently around $227, up roughly 1.7% on the session.
For long-term shareholders, the bigger story remains AbbVie’s post-Humira transition: the company is leaning hard on immunology blockbusters Skyrizi and Rinvoq, while also building out oncology and neuroscience pipelines and maintaining an income-focused investor base through a growing dividend. [1]
What’s moving AbbVie stock on Dec. 15, 2025
Two headlines stood out in Monday’s flow of AbbVie-related updates:
1) BofA reiterates Neutral and lowers its AbbVie price target
Bank of America Securities maintained a Neutral rating on AbbVie but cut its price target to $233 from $248, arguing that a “pipeline-light” 2026 could make it harder for the stock to “re-rate” after what it described as a strong 2025. In that view, AbbVie already trades at a premium multiple, and the near-term cadence of late-stage catalysts may not be enough to expand valuation further. [2]
BofA’s framing matters because it captures the current tension in the AbbVie narrative: fundamentals have been strong in the post-Humira era, but the market increasingly wants visibility into the next wave of growth drivers beyond Skyrizi/Rinvoq and established franchises.
2) FDA grants additional U.S. exclusivity tied to cariprazine (Vraylar)
In a separate development, Hungary’s Gedeon Richter said the U.S. FDA granted AbbVie an additional six-month market exclusivity period in the U.S. for cariprazine, which AbbVie sells under the brand name Vraylar. The additional exclusivity is said to expire on March 17, 2030, following the FDA’s determination that AbbVie fairly responded to a pediatric written request (PWR). [3]
While Vraylar is not the central driver of AbbVie’s valuation the way Skyrizi and Rinvoq are, exclusivity clarity around any meaningful branded product can still influence how investors think about durability of cash flows—especially in large-cap pharma, where “patent cliff math” is always in the background.
AbbVie stock forecasts: why analysts are split heading into 2026
Analyst views on AbbVie into year-end 2025 are not uniform—yet the “bull vs. cautious” debate is more about timing and valuation than about whether AbbVie is executing operationally.
The cautious camp: valuation looks full without fresh 2026 catalysts
BofA’s Neutral stance is rooted in the idea that AbbVie’s current multiple already reflects a lot of good news. The firm pointed to a limited late-stage catalyst calendar in 2026 and suggested that, after a strong year, there may be fewer near-term drivers to push the stock’s valuation higher—hence the reduced $233 target. [4]
The constructive camp: upgrades and raised targets highlight “execution + earnings momentum”
Other firms have leaned more optimistic:
- HSBC upgraded AbbVie from Hold to Buy and raised its price target to $265 from $225, describing AbbVie as a “preferred play” in the sector and pointing to earnings momentum and execution. HSBC’s note also highlighted valuation metrics and dividend yield and referenced a broad analyst price-target range that stretches from the mid-$180s to the high-$280s. [5]
- Morgan Stanley maintained Overweight and raised its price target to $269 from $261 in a December 12 update. [6]
Where Wall Street’s consensus roughly sits
Consensus targets vary by data provider and timing, but they broadly cluster in the mid-$240s, with the high end near $289 and the low end around the high-$180s in one widely circulated compilation. [7]
In practical terms, that mix implies:
- many analysts still see moderate upside from current levels,
- but at least some see AbbVie as closer to “fair value” unless the pipeline calendar heats up.
The fundamentals: AbbVie’s latest quarter showed the Skyrizi/Rinvoq engine still running hot
AbbVie’s most recent major financial readout (third-quarter 2025 results) is a key reason the stock continues to find buyers on dips.
In its Q3 2025 report, AbbVie posted:
- Net revenues of $15.776 billion (up about 9% year over year), [8]
- Immunology portfolio revenue of $7.885 billion, led by Skyrizi ($4.708B) and Rinvoq ($2.184B), while Humira continued to decline ($993M). [9]
Management also raised full-year 2025 adjusted EPS guidance to $10.61–$10.65, and announced a 5.5% dividend increase. [10]
That combination—top-line growth, clear portfolio mix shift away from Humira, and shareholder returns—helps explain why AbbVie remains a core holding for many “defensive growth + income” portfolios.
Skyrizi and Rinvoq: the growth platform that keeps AbbVie’s post-Humira story intact
AbbVie has repeatedly framed Skyrizi and Rinvoq as the pillars of its next era—and has attached large numbers to that outlook.
In early 2025, AbbVie said it expects combined Skyrizi and Rinvoq revenues of more than $31 billion in 2027, including Skyrizi >$20B and Rinvoq >$11B, and reaffirmed expectations for a high single-digit compound annual revenue growth rate through 2029. [11]
Just as importantly for the market’s “duration” model, Reuters previously reported that AbbVie said it expected no generic competition for Rinvoq until 2037, following a settlement framework (subject to provisions) that analysts viewed as extending the runway for one of AbbVie’s most important growth drivers. [12]
Taken together, the company’s thesis is straightforward:
- Humira declines are real and ongoing, but
- the Skyrizi/Rinvoq ramp is designed to more than offset that cliff, and
- extended exclusivity dynamics can buy time for the next wave of pipeline assets to mature.
Why “pipeline-light 2026” has become the key debate
The market is increasingly treating AbbVie as a “show me the next chapter” story.
BofA’s concern is less about today’s earnings power and more about the timeline of major new data and approvals that could broaden AbbVie’s growth narrative beyond its current blockbuster set. [13]
At the same time, AbbVie continues to feed the pipeline with updates, particularly in oncology. For example, AbbVie highlighted new data it planned to present at the 2025 American Society of Hematology (ASH) meeting across multiple blood cancers and modalities, including bispecific antibodies and antibody-drug conjugates, underscoring ongoing R&D breadth. [14]
So the 2026 question for investors isn’t “Does AbbVie have a pipeline?” It’s closer to:
- Which programs become near-term catalysts the Street can model with confidence?
- And do they arrive fast enough to keep valuation support if Skyrizi/Rinvoq growth begins to normalize from exceptionally high rates?
Dividend watch: AbbVie raises its payout again heading into 2026
For many ABBV holders, the dividend is not a side benefit—it’s part of the investment thesis.
AbbVie announced it would raise its quarterly dividend from $1.64 to $1.73 per share, starting with the dividend payable in February 2026. [15]
Company materials specify the payable date as Feb. 17, 2026, with shareholders of record as of Jan. 16, 2026. [16]
In a market where investors have oscillated between growth and defensives, AbbVie’s dividend posture helps keep a bid under the stock—especially when pharma fundamentals are stable and the balance of risk is more about pipeline timing than existential disruption.
A quick note on sentiment: options flow turns more bullish, but it’s not a fundamental signal
A market commentary piece on Dec. 15 pointed to improving options flow sentiment in ABBV, claiming net bullish flow and arguing that contrarian setups can emerge after rare short-term patterns. [17]
Options flow can sometimes highlight near-term positioning, but it’s not a substitute for what ultimately drives AbbVie’s multiple: durable revenue growth, exclusivity protection, and pipeline execution.
Risks investors are still pricing into ABBV stock
Even with strong execution, AbbVie’s stock faces identifiable pressure points:
- Humira erosion remains a headwind (expected, but still material), even as Skyrizi/Rinvoq offset it. [18]
- Aesthetics softness: AbbVie’s Aesthetics portfolio has faced macro-related pressure, and commentary around category growth expectations has been cautious. [19]
- Pipeline timing risk: “Pipeline-light 2026” is shorthand for the possibility that the stock may lack enough big catalyst moments to drive multiple expansion if valuation already looks rich. [20]
- Policy and pricing environment: as with all large-cap pharma, U.S. drug pricing reforms, reimbursement dynamics, and competitive launches can shift investor assumptions quickly (even without company-specific missteps).
What to watch next for AbbVie stock into early 2026
Near-term, ABBV investors are likely to focus on three buckets:
- Next earnings and 2026 outlook
Nasdaq’s earnings calendar currently points to an estimated next report date around Jan. 30, 2026 (dates can change until confirmed by the company). [21] - Analyst “tug-of-war” on valuation
The market is actively digesting whether AbbVie deserves a premium multiple—HSBC argues yes, BofA is less convinced without 2026 pipeline moments, and others like Morgan Stanley remain constructive. [22] - Pipeline and exclusivity headlines
Monday’s cariprazine/Vraylar exclusivity update is a reminder that pharma stocks can move on legal, regulatory, and exclusivity news—even when it’s not tied to the flagship product. [23]
References
1. www.prnewswire.com, 2. www.tradingview.com, 3. www.gedeonrichter.com, 4. www.tradingview.com, 5. www.investing.com, 6. www.gurufocus.com, 7. www.gurufocus.com, 8. www.prnewswire.com, 9. www.prnewswire.com, 10. www.prnewswire.com, 11. news.abbvie.com, 12. www.reuters.com, 13. www.tradingview.com, 14. news.abbvie.com, 15. www.prnewswire.com, 16. www.prnewswire.com, 17. www.barchart.com, 18. www.prnewswire.com, 19. www.nasdaq.com, 20. www.tradingview.com, 21. www.nasdaq.com, 22. www.investing.com, 23. www.gedeonrichter.com
