AbbVie's Schizophrenia Failure Disappoints But Analysts Show Confidence In Immunology Portfolio

On Monday, AbbVie Inc (NYSE:ABBV) stock plunged after two trials investigating emraclidine as a once-daily, oral monotherapy treatment for adults with schizophrenia failed two Phase 2 trials.

The studies did not meet their primary endpoint of showing a statistically significant improvement in the change from baseline in the Positive and Negative Syndrome Scale (PANSS) total score compared to the placebo group at week 6.

Truist says due to the failure, Bristol Myers Squibb & Co’s (NYSE:BMY) Cobenfy (xanomeline and trospium chloride, KarXT) is poised to have less commercial competition.

The analyst also adds that the update will likely raise questions about strategy in neuroscience for AbbVie, which was highlighted during their third-quarter earnings call.

The analyst, with a Buy rating and $215 price target, is still positive on ...