AbbVie (NYSE:ABBV) Raised to “Outperform” at Leerink Partners

AbbVie (NYSE:ABBV) was upgraded by stock analysts at Leerink Partners from a “market perform” rating to an “outperform” rating in a note issued to investors on Friday, MarketBeat reports. The firm presently has a $206.00 target price on the stock. Leerink Partners’ price objective suggests a potential upside of 16.42% from the stock’s previous close.

Several other equities analysts have also recently commented on ABBV. Citigroup reduced their price objective on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Morgan Stanley lowered their price objective on AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Barclays boosted their target price on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. BMO Capital Markets lowered their price target on AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Finally, Truist Financial boosted their price objective on AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $203.50.

AbbVie Trading Up 3.0 %

Shares of ABBV stock opened at $176.95 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The company has a 50 day moving average of $189.47 and a 200-day moving average of $181.17. AbbVie has a 12-month low of $137.65 and a 12-month high of $207.32. The firm has a market cap of $312.70 billion, a P/E ratio of 61.44, a PEG ratio of 2.09 and a beta of 0.63.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same period in the prior year, the firm earned $2.95 earnings per share. The company’s revenue was up 3.8% compared to the same quarter last year. Sell-side analysts anticipate that AbbVie will post 10.95 earnings per share for the current year.

Institutional Trading of AbbVie

Large investors have recently added to or reduced their stakes in the stock. Atlanta Consulting Group Advisors LLC purchased a new position in shares of AbbVie in the 3rd quarter valued at approximately $999,000. Saturna Capital Corp raised its holdings in AbbVie by 486.1% in the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after purchasing an additional 560,808 shares in the last quarter. First Hawaiian Bank lifted its position in AbbVie by 9.0% during the second quarter. First Hawaiian Bank now owns 32,099 shares of the company’s stock valued at $5,506,000 after buying an additional 2,657 shares during the period. Schrum Private Wealth Management LLC boosted its holdings in shares of AbbVie by 57.5% during the 3rd quarter. Schrum Private Wealth Management LLC now owns 16,620 shares of the company’s stock valued at $3,282,000 after buying an additional 6,065 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its holdings in shares of AbbVie by 23.5% during the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after buying an additional 10,768 shares in the last quarter. 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.