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Fly News Breaks for June 8, 2016
ABBV
Jun 8, 2016 | 07:32 EDT
As previously reported, Morgan Stanley downgraded AbbVie to Equal Weight. Analyst David Risinger said the AbbVie's pipeline is better appreciated following the recent R&D day and data disclosures at ASCO over the weekend and is concerned that Humira's challenges from several biosimilar players and novel branded injectables and orals will continue to be an overhang on shares. Risinger lowered AbbVie's price target to $65 from $73 and views risk/reward on shares as balanced.
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