Monday, January 25, 2021

AbbVie Inc. [ABBV] Stock trading around $112.45 per share: What’s Next?

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AbbVie Inc. [NYSE: ABBV] price surged by 2.43 percent to reach at $2.67. The company report on January 13, 2021 that Harpoon Therapeutics Granted Orphan Drug Designation from FDA for HPN217 for Treatment of Multiple Myeloma.

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Harpoon Therapeutics, Inc. (NASDAQ: HARP), a clinical-stage immunotherapy company developing a novel class of T cell engagers, announced that the U.S. Food and Drug Administration (FDA) has granted Orphan Drug Designation for HPN217 for the treatment of multiple myeloma. HPN217, a tri-specific T cell activating recombinant protein construct (TriTAC®) targets B-cell maturation antigen (BCMA), a well-validated antigen expressed on malignant multiple myeloma cells. Harpoon has four drug product candidates in clinical development for the treatment of solid and hematologic malignancies based on its proprietary TriTAC platform.


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“Orphan Drug Designation for multiple myeloma represents a significant milestone in the development of HPN217 and recognizes its potential to address a significant unmet medical need for the patients suffering from this condition,” said Jerry McMahon, Ph.D., President and Chief Executive of Harpoon Therapeutics. “I am pleased with the clinical progress we are making with this program and we are planning to present interim data from the ongoing Phase 1/2 dose escalation trial later this year.”.

A sum of 9647327 shares traded at recent session while its average daily volume was at 8.20M shares. AbbVie Inc. shares reached a high of $113.41 and dropped to a low of $109.70 until finishing in the latest session at $112.45.

The one-year ABBV stock forecast points to a potential upside of 3.89. The average equity rating for ABBV stock is currently 2.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on AbbVie Inc. [ABBV]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ABBV shares is $117.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ABBV stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Bernstein have made an estimate for AbbVie Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on November 10, 2020. While these analysts kept the previous recommendation, Berenberg raised their target price to Hold. The new note on the price target was released on September 29, 2020, representing the official price target for AbbVie Inc. stock. Previously, the target price had yet another raise to $115, while Atlantic Equities analysts kept a Overweight rating on ABBV stock.

The Average True Range (ATR) for AbbVie Inc. is set at 2.27, with the Price to Sales ratio for ABBV stock in the period of the last 12 months amounting to 4.86. The Price to Book ratio for the last quarter was 13.03, with the Price to Cash per share for the same quarter was set at 4.53. Price to Free Cash Flow for ABBV in the course of the last twelve months was 24.33 with Quick ratio for the last quarter at 0.80.

ABBV Stock Performance Analysis:

AbbVie Inc. [ABBV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.51. With this latest performance, ABBV shares gained by 5.75% in over the last four-week period, additionally plugging by 11.91% over the last 6 months – not to mention a rise of 27.49% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ABBV stock in for the last two-week period is set at 72.93, with the RSI for the last a single of trading hit 78.68, and the three-weeks RSI is set at 69.56 for AbbVie Inc. [ABBV]. The present Moving Average for the last 50 days of trading for this stock 102.74, while it was recorded at 109.05 for the last single week of trading, and 93.31 for the last 200 days.

Insight into AbbVie Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and AbbVie Inc. [ABBV] shares currently have an operating margin of +41.83 and a Gross Margin at +77.14. AbbVie Inc.’s Net Margin is presently recorded at +23.57.

Return on Total Capital for ABBV is now 30.66, given the latest momentum, and Return on Invested Capital for the company is 19.22. Additionally, ABBV Total Debt to Total Capital is recorded at 113.87, with Total Debt to Total Assets ending up at 75.28.

Reflecting on the efficiency of the workforce at the company, AbbVie Inc. [ABBV] managed to generate an average of $261,400 per employee. Receivables Turnover for the company is 5.89 with a Total Asset Turnover recorded at a value of 0.45.AbbVie Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 1.00.

ABBV Stock EPS

With the latest financial reports released by the company, AbbVie Inc. posted 2.21/share EPS, while the average EPS was predicted by analysts to be reported at 2.19/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 0.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ABBV. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for AbbVie Inc. go to 10.98%.

AbbVie Inc. [ABBV] Insider Position Details

There are presently around $134,269 million, or 70.10% of ABBV stock, in the hands of institutional investors. The top three institutional holders of ABBV stocks are: VANGUARD GROUP INC with ownership of 144,334,850, which is approximately -2.071% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 122,016,637 shares of the stock with an approximate value of $13.72 billion in ABBV stocks shares; and STATE STREET CORP, currently with $8.79 billion in ABBV stock with ownership of nearly -1.902% of the company’s market capitalization.

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Positions in AbbVie Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 1,188 institutional holders increased their position in AbbVie Inc. [NYSE:ABBV] by around 60,048,595 shares. Additionally, 1,024 investors decreased positions by around 77,246,285 shares, while 271 investors held positions by with 1,056,739,409 shares. The mentioned changes placed institutional holdings at 1,194,034,289 shares, according to the latest SEC report filing. ABBV stock had 104 new institutional investments in for a total of 22,862,573 shares, while 126 institutional investors sold positions of 4,002,228 shares during the same period.

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