Guggenheim Reaffirms “Buy” Rating for AbbVie (NYSE:ABBV)

AbbVie (NYSE:ABBV)‘s stock had its “buy” rating reissued by equities researchers at Guggenheim in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $288.00 target price on the stock. Guggenheim’s target price points to a potential upside of 4.73% from the company’s previous close.

A number of other equities research analysts have also recently commented on the company. UBS Group reissued a “neutral” rating on shares of AbbVie in a research note on Tuesday. Piper Sandler raised their price objective on AbbVie from $298.00 to $303.00 and gave the company an “overweight” rating in a research note on Thursday, August 20th. BMO Capital Markets raised their price objective on AbbVie from $258.00 to $300.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. JPMorgan Chase & Co. raised their price objective on AbbVie from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Bank of America reissued a “buy” rating on shares of AbbVie in a research note on Tuesday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $276.64.

AbbVie Trading Up 0.9%

Shares of ABBV stock opened at $275.00 on Friday. The stock has a market cap of $485.86 billion, a price-to-earnings ratio of 77.55, a PEG ratio of 1.23 and a beta of 0.24. The stock has a 50-day moving average of $258.56 and a 200-day moving average of $236.35. AbbVie has a 1-year low of $190.75 and a 1-year high of $274.94.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, July 31st. The company reported $3.65 EPS for the quarter, topping the consensus estimate of $3.61 by $0.04. AbbVie had a negative return on equity of 422.07% and a net margin of 9.80%.The business had revenue of $16.99 billion during the quarter, compared to analysts’ expectations of $16.80 billion. During the same quarter last year, the firm posted $2.97 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. Sell-side analysts forecast that AbbVie will post 14.01 earnings per share for the current year.

Insider Activity

In other AbbVie news, EVP Nicholas Donoghoe sold 32,710 shares of the business’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $250.00, for a total value of $8,177,500.00. Following the sale, the executive vice president directly owned 74,430 shares in the company, valued at $18,607,500. The trade was a 30.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AbbVie

Several hedge funds have recently made changes to their positions in the stock. State Street Corp grew its position in AbbVie by 1.7% during the second quarter. State Street Corp now owns 82,596,748 shares of the company’s stock worth $20,784,646,000 after buying an additional 1,379,232 shares in the last quarter. Corient Private Wealth LP purchased a new position in AbbVie during the second quarter worth about $559,736,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in AbbVie by 0.7% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,267,697 shares of the company’s stock worth $3,590,323,000 after buying an additional 106,091 shares in the last quarter. Legal & General Group Plc purchased a new position in AbbVie during the second quarter worth about $2,905,952,000. Finally, Deutsche Bank AG grew its position in AbbVie by 13.0% during the second quarter. Deutsche Bank AG now owns 10,772,949 shares of the company’s stock worth $2,710,905,000 after buying an additional 1,241,587 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

More AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: JPMorgan raised its price target to $300 from $285 and maintained an “overweight” rating, implying additional upside from recent levels and reinforcing confidence in AbbVie’s earnings outlook. Benzinga article
• Positive Sentiment: Cantor Fitzgerald increased its AbbVie target to $290 from $285 and kept an “overweight” rating. The firm’s broader review of major pharmaceutical companies suggests continued confidence in AbbVie, although conviction varies across the group. Cantor Fitzgerald price target article
• Positive Sentiment: AbbVie’s investigational cancer drug Temab-A received two FDA Breakthrough Therapy Designations for colorectal cancer and non-small cell lung cancer. The designations can accelerate development and review, strengthening the company’s oncology pipeline and diversification beyond mature products. AbbVie Temab-A FDA announcement
• Positive Sentiment: Separate data indicated AbbVie and Genmab’s epcoritamab combination reduced the risk of diffuse large B-cell lymphoma progression or death by 51%, adding support for the company’s hematology-oncology franchise. Epcoritamab data article
• Neutral Sentiment: AbbVie is trading near its one-year high and carries a reported P/E ratio of 76.89, meaning the positive pipeline and analyst outlook may already be reflected substantially in the valuation. Breakthrough Therapy Designations are not marketing approvals and still require successful clinical testing.

About AbbVie

AbbVie Inc is a global biopharmaceutical company that develops, manufactures and markets medicines for a range of serious and chronic health conditions. Its portfolio spans immunology, oncology, neuroscience, eye care, aesthetics, gastroenterology and women’s health.

The company’s products include the immunology medicines Skyrizi and Rinvoq; neuroscience treatments such as Vraylar, Ubrelvy and Qulipta; and oncology medicines including Imbruvica and Venclexta. AbbVie also markets Botox Cosmetic and Botox Therapeutic, as well as other products for aesthetics, eye care and specialty care.

AbbVie was established in 2013 as an independent, publicly traded company following its separation from Abbott Laboratories.