AbbVie Inc (NYSE:ABBV) was downgraded by investment analysts at Vetr from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday. They currently have a $64.09 price objective on the stock. Vetr‘s target price suggests a potential upside of 3.54% from the stock’s current price.
A number of other brokerages also recently weighed in on ABBV. Jefferies Group reissued a “buy” rating and issued a $90.00 price target on shares of AbbVie in a report on Friday, May 13th. BMO Capital Markets reissued a “buy” rating on shares of AbbVie in a report on Tuesday, May 3rd. Zacks Investment Research downgraded shares of AbbVie from a “hold” rating to a “sell” rating in a report on Tuesday, May 3rd. Morgan Stanley reissued a “buy” rating on shares of AbbVie in a report on Saturday, April 30th. Finally, Credit Suisse reissued an “overweight” rating on shares of AbbVie in a report on Tuesday, April 26th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $69.70.
In other AbbVie news, SVP Timothy J. Richmond sold 12,866 shares of the stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $55.05, for a total transaction of $708,273.30. Following the transaction, the senior vice president now directly owns 79,064 shares in the company, valued at $4,352,473.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard A. Gonzalez sold 39,000 shares of the stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $63.80, for a total transaction of $2,488,200.00. Following the transaction, the chief executive officer now owns 338,421 shares in the company, valued at $21,591,259.80. The disclosure for this sale can be found here.
AbbVie (NYSE:ABBV) traded up 1.11% during mid-day trading on Thursday, reaching $61.90. 6,537,116 shares of the company were exchanged. The company’s 50 day moving average price is $60.88 and its 200-day moving average price is $57.94. The stock has a market capitalization of $100.11 billion and a price-to-earnings ratio of 18.61. AbbVie has a 12-month low of $45.45 and a 12-month high of $71.60.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, April 28th. The company reported $1.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.01. During the same period last year, the firm posted $0.94 earnings per share. The company earned $5.96 billion during the quarter, compared to analysts’ expectations of $6.03 billion. AbbVie’s quarterly revenue was up 18.2% compared to the same quarter last year. On average, equities research analysts forecast that AbbVie will post $4.76 earnings per share for the current fiscal year.
AbbVie Inc (AbbVie) is a global, research-based biopharmaceutical company. The Company develops and markets therapies that address a range of diseases. The Company’s products are focused on treating conditions, such as chronic autoimmune diseases, including rheumatoid arthritis, psoriasis and Crohn’s disease; hepatitis C (HCV); human immunodeficiency virus (HIV); endometriosis; thyroid disease; Parkinson’s disease; complications associated with chronic kidney disease and cystic fibrosis, and other health conditions, such as low testosterone.
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