AbbVie (NYSE:ABBV) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

AbbVie (NYSE:ABBV) had its target price raised by investment analysts at Royal Bank Of Canada from $280.00 to $330.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada‘s price objective suggests a potential upside of 11.94% from the company’s previous close.

Other equities analysts have also issued reports about the company. Canaccord Genuity Group increased their price objective on AbbVie from $290.00 to $338.00 and gave the company a “buy” rating in a report on Monday. Citigroup boosted their target price on AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Wolfe Research raised AbbVie from a “peer perform” rating to an “outperform” rating and upped their price target for the company from $235.00 to $300.00 in a research report on Thursday, August 13th. Scotiabank increased their price target on AbbVie from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 6th. Finally, Morgan Stanley increased their price target on AbbVie from $296.00 to $310.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $286.75.

AbbVie Stock Performance

Shares of ABBV stock opened at $294.80 on Monday. The firm has a market cap of $520.85 billion, a price-to-earnings ratio of 50.74, a P/E/G ratio of 1.35 and a beta of 0.24. AbbVie has a 52 week low of $190.75 and a 52 week high of $298.74. The firm’s 50-day simple moving average is $269.35 and its two-hundred day simple moving average is $237.23.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, October 30th. The company reported $3.82 earnings per share for the quarter, beating analysts’ consensus estimates of $3.73 by $0.09. AbbVie had a net margin of 15.67% and a negative return on equity of 435.41%. The firm had revenue of $17.40 billion during the quarter, compared to the consensus estimate of $17.32 billion. During the same period in the prior year, the firm earned $1.86 EPS. The company’s revenue was up 10.3% compared to the same quarter last year. Analysts forecast that AbbVie will post 13.92 earnings per share for the current year.

Insider Transactions at AbbVie

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

Institutional Trading of AbbVie

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

AbbVie News Roundup

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Analysts raised price targets: Canaccord Genuity lifted its target from $290 to $338 and upgraded AbbVie to “buy,” while Cantor Fitzgerald raised its target from $290 to $325 and reaffirmed an “overweight” rating. The revisions imply approximately 10%–15% upside from the referenced price. Canaccord Genuity AbbVie rating Cantor Fitzgerald AbbVie rating
• Positive Sentiment: Strong operating outlook: AbbVie raised its full-year net revenue guidance to $67.8 billion, while Skyrizi and Rinvoq generated $6 billion in combined growth. Immunology sales reportedly increased 16.3%, helping support the company’s higher profit outlook. AbbVie earnings takeaways
• Positive Sentiment: Dividend increase reinforces shareholder returns: AbbVie declared a quarterly dividend of $1.82 per share, up 5.2% from $1.73, equating to $7.28 annually and an approximately 2.5% yield. The increase may appeal to income-focused investors.
• Positive Sentiment: Pipeline potential: Early Phase 2 data indicated ABBV-466 nearly doubled Skyrizi’s Crohn’s disease remission rate, raising the possibility of a valuable follow-on treatment and another blockbuster product. AbbVie Crohn’s disease pipeline analysis
• Neutral Sentiment: Sector-fund buying: The State Street Health Care SPDR reportedly added to all 60 holdings, including AbbVie, providing broad healthcare-sector demand but no company-specific signal. State Street Health Care SPDR holdings
• Negative Sentiment: Risks remain: Skyrizi and Rinvoq now account for nearly half of revenue, increasing dependence on a concentrated product base. Recent adjusted-EPS growth also benefited from the comparison with a prior-year research-deal charge, while the stock’s elevated valuation could limit further gains if execution disappoints.

About AbbVie

AbbVie Inc (NYSE: ABBV) is a global biopharmaceutical company that discovers, develops and commercializes medicines and other healthcare products. Its portfolio focuses on immunology, oncology, neuroscience, aesthetics and eye care, serving patients and healthcare providers in markets around the world.

The company’s key products include immunology medicines such as Skyrizi and Rinvoq; neuroscience treatments including Vraylar, Ubrelvy and Qulipta; and oncology products such as Imbruvica and Venclexta.