Back on Nov. 11, poorly received phase 2 trial results from pharmaceutical giant AbbVie's (ABBV) schizophrenia drug, emraclidine, sent its shares tumbling 12.5% in a single session. Down about 12% from its 52-week high, ABBV stock has been under pressure recently - but zooming out, the recent dip could be an opportunity to invest in the pharmaceutical giant's long-term story.
That was the thesis behind a recent upgrade from analysts at Leerink, with the firm writing that “investors can take advantage of the emraclidine setback and election-related downdraft to purchase shares in this high-quality company.”
