AbbVie Inc. (NYSE:ABBV – Get Free Report)’s share price traded up 1% on Wednesday after Piper Sandler raised their price target on the stock from $185.00 to $190.00. Piper Sandler currently has an overweight rating on the stock. AbbVie traded as high as $173.01 and last traded at $171.36. 4,250,883 shares were traded during mid-day trading, a decline of 13% from the average session volume of 4,866,948 shares. The stock had previously closed at $169.68.
A number of other equities analysts also recently commented on ABBV. Barclays decreased their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. BMO Capital Markets dropped their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Cantor Fitzgerald started coverage on shares of AbbVie in a research report on Friday, May 17th. They set an “overweight” rating and a $200.00 price target on the stock. Guggenheim raised their price objective on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a research report on Wednesday, June 5th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $179.64.
Read Our Latest Stock Report on AbbVie
Hedge Funds Weigh In On AbbVie
AbbVie Stock Up 0.4 %
The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. The company has a fifty day simple moving average of $163.72 and a 200-day simple moving average of $166.45. The firm has a market cap of $303.96 billion, a P/E ratio of 51.08, a price-to-earnings-growth ratio of 2.19 and a beta of 0.60.
AbbVie (NYSE:ABBV – Get Free Report) last released its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.05. The company had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.46 EPS. On average, equities analysts anticipate that AbbVie Inc. will post 11.27 earnings per share for the current year.
About AbbVie
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.
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