ABBV Maintains Overweight Rating by JP Morgan -- Price Target Ra

JPMorgan raised its price target for AbbVie to $300 from $285. The adjustment follows FDA breakthrough designations for AbbVie's cancer drug, causing shares to rise. The current share price is $271.36, up 1.75%.

AbbVie Inc. (ABBV) announced on Oct. 7 that the FDA granted Breakthrough Therapy designations for its investigational drug Temab-A in colorectal and non-small cell lung cancer. The designations are based on preliminary clinical evidence from the M21-404 study, but detailed efficacy and safety data were not provided. Temab-A remains unapproved, and marketing applications are pending. AbbVie is eligible for intensive FDA guidance and Fast Track features.

AbbVie's drug Temab-A received two FDA Breakthrough Therapy designations for treating colorectal cancer and non-small cell lung cancer. The designations are based on study results and could accelerate development.

AbbVie (NYSE:ABBV) shares rose 0.44% in after-hours trading after the FDA granted two Breakthrough Therapy Designations to its drug telisotuzumab adizutecan. The designations cover treatments for metastatic colorectal cancer and non-small cell lung cancer. The company's stock has a market cap of $479.52 billion and is near its 52-week high of $274.94.

Johnson & Johnson (JNJ) reported Q2 sales of $25.3B, up 6.6%, and raised its 2026 outlook. Adjusted EPS grew 4.7% to $2.90, with full-year guidance increased to $11.60-$11.75. JNJ expects $100.8B-$101.4B in annual revenue. Analysts debate its valuation, with JPMorgan remaining Neutral and UBS recommending Buy. AbbVie (ABBV) is compared for valuation context.

AbbVie's shares rose after the FDA granted two breakthrough therapy designations for its cancer drug. The company's stock is up 2.42% in the last 5 days and 19.35% year-to-date, according to the article.