Allergan yesterday announced the completion of two positive safety and tolerability studies for its oral anti-CGRP acute migraine treatment, ubrogepant, Wells Fargo analyst David Maris tells investors in a research note titled ": Effective? Check. Safe? Check. Oral Migraine Drug Clears Key Hurdle." The data showcase what Allergan has reiterated all along, that ubrogepant has shown to provide triptan-like efficacy in treating acute migraines with a lower adverse event profile and an absence of drug-induced elevated liver enzyme levels, Maris contends. The analyst, who currently models $175M in sales for ubrogepant in 2022, believes many on the Street are underestimating Allergan and ubrogepant "given the past concerns over hepatic safety that do not appear to be evident." Ubrogepant may have $1B-plus sales potential if approved, says Maris. He finds yesterday's safety update as "very positive" news for Allergan and keeps an Outperform rating on the stock.