AbbVie Inc. [ABBV] Revenue clocked in at $50.20 billion, up 9.18% YTD: What’s Next?

AbbVie Inc. [NYSE: ABBV] price surged by 0.81 percent to reach at $0.94. The company report on July 21, 2021 that Venetoclax (VENCLEXTA®) Granted US FDA Breakthrough Therapy Designation (BTD) in Higher Risk Myelodysplastic Syndrome (MDS).

– This is the sixth BTD granted for venetoclax as AbbVie continues to show ongoing commitment across blood cancers including tough to treat myeloid malignancies.

AbbVie (NYSE: ABBV) announced that the U.S. Food and Drug Administration (FDA) granted a Breakthrough Therapy Designation (BTD) to venetoclax (VENCLEXTA®) in combination with azacitidine for the potential treatment of adult patients with previously untreated intermediate-, high- and very high-risk myelodysplastic syndromes (MDS) based on revised International Prognostic Scoring System (IPSS-R). A BTD is intended to expedite the development and review of medications to treat a serious medical condition and is granted when preliminary clinical evidence indicates the investigational therapy may demonstrate substantial improvement over existing therapies.1 This marks the sixth BTD granted to venetoclax.

A sum of 4094349 shares traded at recent session while its average daily volume was at 6.39M shares. AbbVie Inc. shares reached a high of $117.07 and dropped to a low of $115.79 until finishing in the latest session at $116.99.

The one-year ABBV stock forecast points to a potential upside of 5.71. 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 $124.08 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.

RBC Capital Mkts have made an estimate for AbbVie Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on April 07, 2021. While these analysts kept the previous recommendation, Bernstein raised their target price to Outperform. The new note on the price target was released on November 10, 2020, representing the official price target for AbbVie Inc. stock. Previously, the target price had yet another raise to $98, while Berenberg analysts kept a Hold rating on ABBV stock.

The Average True Range (ATR) for AbbVie Inc. is set at 1.73, with the Price to Sales ratio for ABBV stock in the period of the last 12 months amounting to 4.11. The Price to Book ratio for the last quarter was 15.10, with the Price to Cash per share for the same quarter was set at 5.55. Price to Free Cash Flow for ABBV in the course of the last twelve months was 21.66 with Quick ratio for the last quarter at 0.70.

ABBV Stock Performance Analysis:

AbbVie Inc. [ABBV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.32. With this latest performance, ABBV shares gained by 1.97% in over the last four-week period, additionally plugging by 3.88% over the last 6 months – not to mention a rise of 20.11% 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 56.78, with the RSI for the last a single of trading hit 57.21, and the three-weeks RSI is set at 56.28 for AbbVie Inc. [ABBV]. The present Moving Average for the last 50 days of trading for this stock 115.01, while it was recorded at 116.63 for the last single week of trading, and 106.14 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 +34.12 and a Gross Margin at +69.18. AbbVie Inc.’s Net Margin is presently recorded at +9.95.

Return on Total Capital for ABBV is now 19.65, given the latest momentum, and Return on Invested Capital for the company is 6.22. Return on Equity for this stock inclined to 185.81, with Return on Assets sitting at 3.80. When it comes to the capital structure of this company, AbbVie Inc. [ABBV] has a Total Debt to Total Equity ratio set at 665.82. Additionally, ABBV Total Debt to Total Capital is recorded at 86.94, with Total Debt to Total Assets ending up at 57.82. Long-Term Debt to Equity for the company is recorded at 599.46, with the Long-Term Debt to Total Capital now at 78.28.

Reflecting on the efficiency of the workforce at the company, AbbVie Inc. [ABBV] managed to generate an average of $96,936 per employee. Receivables Turnover for the company is 6.43 with a Total Asset Turnover recorded at a value of 0.38.AbbVie Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.80.

ABBV Stock EPS

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 4.50%.

AbbVie Inc. [ABBV] Insider Position Details

There are presently around $139,325 million, or 69.00% of ABBV stock, in the hands of institutional investors. The top three institutional holders of ABBV stocks are: VANGUARD GROUP INC with ownership of 143,733,946, which is approximately 0.821% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 126,615,997 shares of the stock with an approximate value of $14.81 billion in ABBV stocks shares; and STATE STREET CORP, currently with $8.83 billion in ABBV stock with ownership of nearly -3.411% of the company’s market capitalization.

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Positions in AbbVie Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 1,421 institutional holders increased their position in AbbVie Inc. [NYSE:ABBV] by around 59,049,068 shares. Additionally, 1,004 investors decreased positions by around 62,920,397 shares, while 290 investors held positions by with 1,068,941,192 shares. The mentioned changes placed institutional holdings at 1,190,910,657 shares, according to the latest SEC report filing. ABBV stock had 142 new institutional investments in for a total of 3,032,853 shares, while 93 institutional investors sold positions of 5,047,623 shares during the same period.

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