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发帖数: 830 | 1 Wells Fargo analyst Larry Biegelsen raised his rating to outperform from
market perform, saying the termination of Abbott’s joint testing program
with closely held Reata Pharmaceuticals on a drug known as bardoxolone
methyl, used to treat kidney disease.
On Thursday, the companies released a statement citing “excess serious
adverse events and mortality” relating to the tests, saying they were
halting the trials and informing the U.S. Food and Drug Administration,
among other regulatory agencies.
Abbott, based in the Chicago suburb of Abbott Park, Ill., lost as much as 6%
at one point during the day, and ended trading down 3.5%.
Biegelsen said in a note to clients that the recent downdraft in shares on
Thursday represented “an attractive entry point for investors.”
Coupled with Thursday’s fall, Abbott lost 4.3% on Wednesday after the
company said in its third-quarter earnings report that it expects a 22% tax
rate for its planned spinoff of AbbVie later this year. That was considered
a high tariff by most analysts.
“We believe this pullback creates an attractive entry point for investors
looking to own the stock ahead of the split,” |
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