AbbVie (NYSE:ABBV) Upgraded at Scotiabank

AbbVie (NYSE:ABBV) was upgraded by analysts at Scotiabank to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

ABBV has been the subject of a number of other reports. Bank of America upped their price objective on shares of AbbVie from $220.00 to $251.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Evercore ISI upped their price target on AbbVie from $207.00 to $222.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Morgan Stanley raised their price objective on AbbVie from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Berenberg Bank raised AbbVie from a “hold” rating to a “buy” rating and upped their target price for the stock from $170.00 to $270.00 in a research report on Wednesday, September 17th. Finally, Hsbc Global Res downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 1st. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $238.55.

AbbVie Stock Performance

Shares of ABBV stock opened at $232.25 on Wednesday. AbbVie has a fifty-two week low of $163.81 and a fifty-two week high of $244.81. The stock’s 50-day moving average is $224.49 and its two-hundred day moving average is $203.63. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. The firm has a market cap of $410.47 billion, a P/E ratio of 110.60, a PEG ratio of 1.42 and a beta of 0.50.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, October 31st. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.77 by $0.09. The business had revenue of $15.78 billion during the quarter, compared to analysts’ expectations of $15.58 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.00 EPS. AbbVie has set its Q4 2025 guidance at 3.320-3.360 EPS. Analysts predict that AbbVie will post 12.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. TD Capital Management LLC grew its holdings in shares of AbbVie by 82.9% during the 1st quarter. TD Capital Management LLC now owns 128 shares of the company’s stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Marshall & Sullivan Inc. WA bought a new stake in AbbVie in the 2nd quarter valued at $25,000. Texas Capital Bancshares Inc TX acquired a new position in shares of AbbVie in the 3rd quarter valued at $31,000. Evolution Wealth Management Inc. acquired a new stake in shares of AbbVie during the 2nd quarter valued at about $26,000. Finally, Caitlin John LLC acquired a new position in AbbVie in the third quarter worth about $33,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.