Stocks of Abbvie Inc (NYSE:ABBV) traded higher last session on Wall Street, down -0.50% to $141.18.
According to the data, Abbvie Inc (NYSE:ABBV) has 29 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $205.00 and a low of $135.00, we find $168.50. Given the previous closing price of $141.89, this indicates a potential upside of 18.75 percent. ABBV stock price is now -5.05% away from the 50-day moving average and -4.66% away from the 200-day moving average. The market capitalization of the company currently stands at $249.19B.
A total of 13 analysts have issued a hold rating and 13 have given it a buy rating. Brokers who have rated the stock have averaged $169.60 as their price target over the next twelve months.
With the price target enhanced from $160 to $170, Barclays Upgraded its rating from Equal Weight to Overweight for Abbvie Inc (NYSE: ABBV).
In other news, GONZALEZ RICHARD A, CHAIRMAN OF THE BOARD AND CEO sold 60,000 shares of the company’s stock on Aug 01. The stock was sold for $8,914,800 at an average price of $148.58. Upon completion of the transaction, the CHAIRMAN OF THE BOARD AND CEO now directly owns 565,294 shares in the company, valued at $79.81 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 31, CHAIRMAN OF THE BOARD AND CEO GONZALEZ RICHARD A sold 18,500 shares of the business’s stock. A total of $2,759,275 was realized by selling the stock at an average price of $149.15. This leaves the insider owning 625,294 shares of the company worth $88.28 million. Insiders disposed of 772,070 shares of company stock worth roughly $109.0 million over the past 1 year. A total of 0.12% of the company’s stock is owned by insiders.
Tuesday’s opening bell rang with an opening price of $142.09 for Abbvie Inc (NYSE: ABBV). During the past 12 months, Abbvie Inc has had a low of $130.96 and a high of $168.11. As of last week, the company has a debt-to-equity ratio of 4.74, a current ratio of 0.89, and a quick ratio of 0.77. The fifty day moving average price for ABBV is $148.52 and a two-hundred day moving average price translates $148.01 for the stock.
The latest earnings results from Abbvie Inc (NYSE: ABBV) was released for Sep, 2023. According to the Drug Manufacturers – General Company, earnings per share came in at $2.91, beating analysts’ expectations of $2.81 by 0.1. This compares to $0.52 EPS in the same period last year. The net profit margin was 11.77% and return on equity was 62.83% for ABBV. The company reported revenue of $13.87 billion for the quarter, compared to $14.58 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -4.92 percent. For the current quarter, analysts expect ABBV to generate $12.92B in revenue.
Abbvie Inc(ABBV) Company Profile
AbbVie Inc. discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet’s diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn’s disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies. It also provides facial injectables, plastics and regenerative medicine, body contouring, and skincare products; Vraylar for depressive disorder; Duopa and Duodopa to treat advanced Parkinson’s disease; and Ubrelvy for the acute treatment of migraine with or without aura in adults; Qulipta for episodic migraine. In addition, the company offers Lumigan/Ganfort and Alphagan/Combigan for the reduction of elevated intraocular pressure(IOP) in patients with open angle glaucoma (OAG) or ocular hypertension; Restasis, a calcineurin inhibitor immunosuppressant indicated to increase tear production; and eye care products. Further, it provides Mavyret/Maviret to treat chronic hepatitis C virus (HCV) genotype 1-6 infection and HCV genotype 1 infection; Creon, a pancreatic enzyme therapy; Lupron to treat advanced prostate cancer, endometriosis and central precocious puberty, and patients with anemia caused by uterine fibroids; Linzess/Constella to treat irritable bowel syndrome with constipation and chronic idiopathic constipation; and Synthroid for hypothyroidism. It has collaborations with Calico Life Sciences LLC; REGENXBIO Inc.; I-Mab Biopharma; Genmab A/S; Janssen Biotech, Inc.; Genentech, Inc.; and California Institute for Biomedical Research (Calibr). The company was incorporated in 2012 and is headquartered in North Chicago, Illinois.
