AbbVie (ABBV) – Research Analysts’ Recent Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of AbbVie (NYSE: ABBV) in the last few weeks:

  • 11/16/2017 – AbbVie had its price target raised by analysts at BMO Capital Markets from $6.00 to $8.00. They now have a “market perform” rating on the stock.
  • 11/15/2017 – AbbVie had its “hold” rating reaffirmed by analysts at BMO Capital Markets. They now have a $84.00 price target on the stock, up previously from $66.00.
  • 11/11/2017 – AbbVie was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 11/1/2017 – AbbVie was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “AbbVie reported mixed Q3 results.  While earnings beat estimates, revenues came in line. Humira and Imbruvica kept up the strong performance. Meanwhile, AbbVie raised its earnings outlook for the year backed by a strong year-to-date performance.  Despite new competition, it raised its long-term target for Humira sales based on strong demand trends for the drug. Meanwhile, the past 2-3 months have been strong for the company as it presented promising data from several pivotal studies, gained regulatory approvals in the U.S., Europe, and Japan for its competitive HCV medicine Mavyret and FDA approval for the sixth indication for Imbrivica and settled its Humira patent disputes with Amgen. Also, several pivotal data readouts and regulatory milestones are expected in 2018. AbbVie’s shares have outperformed the industry this year so far. However, HCV sales continue to be hurt by intensifying competition.”
  • 10/30/2017 – AbbVie had its price target lowered by analysts at Leerink Swann from $108.00 to $107.00. They now have an “outperform” rating on the stock.
  • 10/30/2017 – AbbVie had its “buy” rating reaffirmed by analysts at SunTrust Banks, Inc..
  • 10/27/2017 – AbbVie had its price target raised by analysts at Piper Jaffray Companies to $115.00. They now have an “overweight” rating on the stock.
  • 10/27/2017 – AbbVie was given a new $66.00 price target on by analysts at BMO Capital Markets. They now have a “hold” rating on the stock.
  • 10/25/2017 – AbbVie was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 10/20/2017 – AbbVie was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “AbbVie’s key drug Humira has been performing well and should continue to do well. Moreover, Imbruvica has multibillion dollar potential and AbbVie is exploring the possibility of label expansion into solid tumors and autoimmune diseases. Meanwhile, AbbVie has promising pipeline with several pivotal data readouts and regulatory milestones due in the second half. Maviret, approved recently, has the potential to rejuvenate AbbVie’s struggling HCV franchise. AbbVie’s shares have outperformed the industry this year so far. However, though Humira is doing well, the company is concerned about the product’s long-term growth prospects, given the potential biosimilar competition. Viekira also faces intense pricing and competitive pressure in the HCV market. Estimates have gone up slightly ahead of the company’s Q3 earnings release. AbbVie has had a mixed record of earnings surprises in the recent quarters.”
  • 10/17/2017 – AbbVie was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $102.00 price target on the stock. According to Zacks, “AbbVie’s key drug Humira has been performing well and should continue to do well. Moreover, Imbruvica has multibillion dollar potential and AbbVie is exploring the possibility of label expansion into solid tumors and autoimmune diseases. Meanwhile, AbbVie has promising pipeline with several pivotal data readouts and regulatory milestones due in the second half. Maviret, approved recently, has the potential to rejuvenate AbbVie’s struggling HCV franchise. AbbVie’s shares have outperformed the industry this year so far. However, though Humira is doing well, the company is concerned about the product’s long-term growth prospects, given the potential biosimilar competition. Viekira also faces intense pricing and competitive pressure in the HCV market. Estimates have gone up slightly ahead of the company’s Q3 earnings release. AbbVie has had a mixed record of earnings surprises in the recent quarters.”
  • 10/16/2017 – AbbVie had its price target raised by analysts at Jefferies Group LLC from $107.00 to $115.00. They now have a “buy” rating on the stock.
  • 10/13/2017 – AbbVie had its “neutral” rating reaffirmed by analysts at UBS AG.
  • 10/13/2017 – AbbVie had its price target raised by analysts at Barclays PLC to $90.00. They now have an “equal weight” rating on the stock.
  • 10/11/2017 – AbbVie was upgraded by analysts at Cowen and Company from a “market perform” rating to an “outperform” rating. They now have a $105.00 price target on the stock, up previously from $91.17.
  • 10/2/2017 – AbbVie was upgraded by analysts at Leerink Swann from a “market perform” rating to an “outperform” rating. They now have a $106.00 price target on the stock, up previously from $89.00.
  • 10/1/2017 – AbbVie had its “neutral” rating reaffirmed by analysts at Credit Suisse Group. They now have a $94.00 price target on the stock, up previously from $74.00.
  • 9/30/2017 – AbbVie had its “outperform” rating reaffirmed by analysts at Evercore ISI. They now have a $100.00 price target on the stock, up previously from $95.00.
  • 9/29/2017 – AbbVie had its price target raised by analysts at Morgan Stanley from $70.00 to $95.00. They now have an “equal weight” rating on the stock.
  • 9/29/2017 – AbbVie had its price target raised by analysts at Argus from $90.00 to $110.00. They now have a “buy” rating on the stock.
  • 9/28/2017 – AbbVie had its “hold” rating reaffirmed by analysts at BMO Capital Markets. They now have a $66.00 price target on the stock.
  • 9/28/2017 – AbbVie had its “hold” rating reaffirmed by analysts at Barclays PLC. They now have a $68.00 price target on the stock.
  • 9/28/2017 – AbbVie had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $107.00 price target on the stock.
  • 9/28/2017 – AbbVie had its price target raised by analysts at Deutsche Bank AG to $88.00. They now have a “hold” rating on the stock.
  • 9/25/2017 – AbbVie was downgraded by analysts at UBS AG from a “buy” rating to a “neutral” rating. They now have a $92.00 price target on the stock, up previously from $79.00. They wrote, “For other pipeline products, we already included appropriate risk-adj estimates and in some cases significant risk adj sales (Rova-T),”

AbbVie Inc. (NYSE:ABBV) traded down $0.99 during mid-day trading on Thursday, reaching $93.76. The company’s stock had a trading volume of 4,745,700 shares, compared to its average volume of 6,230,506. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45. The company has a market capitalization of $149,460.00, a P/E ratio of 17.84, a price-to-earnings-growth ratio of 1.31 and a beta of 1.52. AbbVie Inc. has a 52 week low of $58.60 and a 52 week high of $98.26.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, October 27th. The company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. The business had revenue of $7 billion during the quarter, compared to analysts’ expectations of $7 billion. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.21 earnings per share. sell-side analysts anticipate that AbbVie Inc. will post 5.55 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be given a $0.71 dividend. This is a boost from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $2.84 dividend on an annualized basis and a yield of 3.03%. AbbVie’s dividend payout ratio is presently 61.84%.

In other AbbVie news, EVP Michael Severino sold 25,633 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $94.69, for a total value of $2,427,188.77. Following the completion of the sale, the executive vice president now owns 114,922 shares in the company, valued at $10,881,964.18. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $85.02, for a total value of $705,666.00. Following the completion of the sale, the senior vice president now owns 93,099 shares of the company’s stock, valued at approximately $7,915,276.98. The disclosure for this sale can be found here. In the last 90 days, insiders sold 58,932 shares of company stock valued at $5,379,432. Company insiders own 0.23% of the company’s stock.

AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.

Receive News & Ratings for AbbVie Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply