AbbVie (NYSE:ABBV) Lowered to “Strong Sell” at ValuEngine

ValuEngine downgraded shares of AbbVie (NYSE:ABBV) from a sell rating to a strong sell rating in a report issued on Thursday, ValuEngine reports.

Several other analysts have also commented on ABBV. Mizuho lifted their price objective on shares of AbbVie from $96.00 to $104.00 in a research report on Monday. Royal Bank of Canada reissued a hold rating and set a $86.00 target price on shares of AbbVie in a research report on Thursday, January 23rd. Cowen raised their price target on shares of AbbVie from $90.00 to $98.00 and gave the stock an outperform rating in a research note on Thursday, December 26th. Citigroup lifted their price target on shares of AbbVie from $90.00 to $98.00 and gave the stock a buy rating in a report on Wednesday, November 20th. Finally, Piper Jaffray Companies lifted their price target on shares of AbbVie from $81.00 to $90.00 in a report on Friday, November 1st. Three analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. AbbVie presently has an average rating of Hold and an average price target of $88.51.

ABBV stock traded down $1.30 during midday trading on Thursday, hitting $94.05. The company’s stock had a trading volume of 11,174,438 shares, compared to its average volume of 9,792,117. The stock’s 50-day moving average price is $87.98 and its 200 day moving average price is $79.27. AbbVie has a 1 year low of $62.66 and a 1 year high of $97.86. The stock has a market cap of $140.12 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 2.18 and a beta of 0.96.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, February 7th. The company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.02. The firm had revenue of $8.70 billion during the quarter, compared to analyst estimates of $8.68 billion. AbbVie had a negative return on equity of 162.37% and a net margin of 23.69%. The business’s revenue was up 4.8% compared to the same quarter last year. During the same period last year, the firm posted $1.90 EPS. Research analysts expect that AbbVie will post 9.66 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its holdings in AbbVie by 61.5% during the 4th quarter. Renaissance Technologies LLC now owns 11,796,744 shares of the company’s stock valued at $1,044,484,000 after acquiring an additional 4,490,046 shares during the period. BlackRock Inc. boosted its holdings in shares of AbbVie by 3.3% in the second quarter. BlackRock Inc. now owns 98,295,272 shares of the company’s stock worth $7,148,030,000 after acquiring an additional 3,100,309 shares during the period. FMR LLC boosted its holdings in shares of AbbVie by 7.8% in the fourth quarter. FMR LLC now owns 40,238,885 shares of the company’s stock worth $3,562,751,000 after acquiring an additional 2,928,045 shares during the period. State Street Corp grew its position in shares of AbbVie by 2.3% in the third quarter. State Street Corp now owns 68,783,527 shares of the company’s stock valued at $5,208,289,000 after purchasing an additional 1,516,048 shares in the last quarter. Finally, Farallon Capital Management LLC grew its position in shares of AbbVie by 150.0% in the fourth quarter. Farallon Capital Management LLC now owns 2,500,000 shares of the company’s stock valued at $221,350,000 after purchasing an additional 1,500,000 shares in the last quarter. Institutional investors and hedge funds own 70.53% of the company’s stock.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Analyst Recommendations for AbbVie (NYSE:ABBV)

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