, Columnist
AbbVie Has Issues, But It Isn’t the ‘Next Great Drug Short’
Short-seller Citron Research is going too far with its negative call.
Andrew Left may rue this one.
Photographer: Patrick T. Fallon/Bloomberg
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Andrew Left’s Citron Research has had prominent short-selling successes, including calling the spectacular implosion of Valeant Pharmaceuticals International Inc. (now Bausch Health Cos Inc.)
But his AbbVie Inc. thesis needs work. Citron tweeted Thursday that AbbVie was “the next great drug short” and that its 12-month price target was $60. That’s a robust call, AbbVie shares closed at $94 on Wednesday.