AbbVie Target Raised to $300, Wells Fargo Eyes $6.5 Billion Drug Peak

Wells Fargo raised its price target for AbbVie Inc. to $300 from $295. The firm also reiterated its Overweight rating on the stock.

Analysts identified AbbVie’s treatments for Hidradenitis suppurativa (HS), a chronic skin condition, as a primary growth driver. Wells Fargo suggests the market currently underestimates the company's leadership potential in this therapeutic area.

Pivotal clinical readouts for the HS pipeline are scheduled for the second half of 2026. The bank projects these treatments could generate peak annual sales exceeding $6.5 billion.