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Latest Updates, October 9th - ** Definium Therapeutics (DFTX.O) shares rose 7.4% to $36.7 ** If the rally holds, the stock is set for its biggest single-day gain since June ** JPMorgan initiated coverage of the stock with an "Overweight" rating and a target price of $84 ** The bank stated that Definium’s lead candidate drug, DT120 ODT, has the potential to transform the treatment landscape for neuropsychiatric disorders ** Based on current data, the institution considers DT120 ODT (an LSD oral formulation for the treatment of major depressive disorder and generalized anxiety disorder) to be a "de-risked asset" ** The new target price implies a 145.7% upside from the latest closing price ** "While changes in the macro environment may present potential investment risks to the sector, we believe the positives for Definium outweigh the negatives," the bank stated ** A period of "frequent landmark events" is expected ahead, including plans to submit a new drug application to the FDA in the first half of 2027 ** The bank projects that total sales of DT120 orally disintegrating tablets (ODT) will approach $5 billion by 2035 ** Including intraday volatility, the stock has more than doubled in value year-to-date (For the convenience of non-English speakers, Reuters has automated this report’s translation into several other languages. Due to possible errors in automated translation or lack of full context, Reuters does not guarantee the accuracy of the automated translation and provides it solely as a convenience to readers. Reuters accepts no liability for any damage or loss arising from the use of automated translation.)

On October 9, UBS raised its target price for AbbVie (ABBV.N) from $260 to $275, stating that investors' focus is shifting from blockbuster drugs Skyrizi and Rinvoq to the next wave of growth in its immunology business. UBS also noted that other projects in AbbVie’s R&D pipeline remain robust. It expects strong third-quarter performances from Skyrizi and Rinvoq, with respective sales reaching $5.7 billion and $2.7 billion. Special attention was given to upcoming combined treatment data of Skyrizi for Crohn's disease and ulcerative colitis, with mid-stage trial results to be released later this month. UBS believes that the drug lutikizumab, for inflammatory skin diseases, has a potential market size of $1-2 billion, and pointed out that Rinvoq sales are likely to surpass $500 million. The report also mentioned positive late-stage clinical data for cancer drugs Epkinly and etentamig, as well as the recent launch of the Parkinson’s disease medication tavapadon. UBS expects third-quarter earnings per share (EPS) to reach $3.76, within AbbVie’s forecast range of $3.73 to $3.77. Including intraday fluctuations, AbbVie’s stock has risen 21% so far this year. (For the convenience of non-English speakers, Reuters provides automated translation of its reports into several other languages. Due to potential inaccuracies or lack of required context in automated translations, Reuters does not guarantee the accuracy of these texts and is not liable for any damage or loss arising from their use. The translations are provided solely for readers' convenience.)