Morgan Stanley slashes price target on AbbVie Inc. [ABBV] – find out why.

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AbbVie Inc. [NYSE: ABBV] closed the trading session at $146.88 on 04/29/22. The day’s price range saw the stock hit a low of $139.93, while the highest price level was $149.86. The company report on April 29, 2022 that RINVOQ® (upadacitinib) Approved by U.S. FDA as an Oral Treatment for Adults with Active Ankylosing Spondylitis.

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Across the two pivotal trials, RINVOQ delivered rapid and meaningful disease control with nearly half of ankylosing spondylitis (AS) patients achieving ASAS40 (51% and 44.5% with RINVOQ versus 26% and 18.2% with placebo) at week 14 compared to placebo1.

RINVOQ demonstrated significant improvement in signs and symptoms of AS at week 141-4.

The stocks have a year to date performance of 8.48 percent and weekly performance of -5.23 percent. The stock has been moved at 33.93 percent over the last six months. The stock has performed -10.30 percent around the most recent 30 days and changed 6.50 percent over the most recent 3-months.

If compared to the average trading volume of 7.76M shares, ABBV reached to a volume of 25139168 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about 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 $163.99 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 2.10. 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.

Morgan Stanley have made an estimate for AbbVie Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on April 06, 2022. While these analysts kept the previous recommendation, UBS raised their target price from $129 to $147. The new note on the price target was released on February 28, 2022, representing the official price target for AbbVie Inc. stock. Previously, the target price had yet another raise from $117 to $122, while Goldman kept a Neutral rating on ABBV stock. On February 03, 2022, analysts increased their price target for ABBV shares from 135 to 138.

The Average True Range (ATR) for AbbVie Inc. is set at 5.13, with the Price to Sales ratio for ABBV stock in the period of the last 12 months amounting to 4.91. The Price to Book ratio for the last quarter was 16.90, with the Price to Cash per share for the same quarter was set at 5.23. Price to Free Cash Flow for ABBV in the course of the last twelve months was 21.86 with Quick ratio for the last quarter at 0.70.

ABBV stock trade performance evaluation

AbbVie Inc. [ABBV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.23. With this latest performance, ABBV shares dropped by -10.30% in over the last four-week period, additionally plugging by 33.93% over the last 6 months – not to mention a rise of 31.73% 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 33.61, with the RSI for the last a single of trading hit 26.54, and the three-weeks RSI is set at 39.02 for AbbVie Inc. [ABBV]. The present Moving Average for the last 50 days of trading for this stock 156.41, while it was recorded at 154.66 for the last single week of trading, and 129.69 for the last 200 days.

AbbVie Inc. [ABBV]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and AbbVie Inc. [ABBV] shares currently have an operating margin of +35.14 and a Gross Margin at +69.49. AbbVie Inc.’s Net Margin is presently recorded at +20.41.

Return on Equity for this stock inclined to 80.52, with Return on Assets sitting at 7.72.

AbbVie Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.80.

Earnings per share (EPS) analysis for AbbVie Inc. [ABBV] stock

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 2.17%.

AbbVie Inc. [ABBV]: Insider Ownership positions

There are presently around $174,612 million, or 69.80% of ABBV stock, in the hands of institutional investors. The top three institutional holders of ABBV stocks are: VANGUARD GROUP INC with ownership of 146,312,069, which is approximately 0.538% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 128,197,554 shares of the stock with an approximate value of $18.83 billion in ABBV stocks shares; and STATE STREET CORP, currently with $11.66 billion in ABBV stock with ownership of nearly 3.383% of the company’s market capitalization.

Positions in AbbVie Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 1,547 institutional holders increased their position in AbbVie Inc. [NYSE:ABBV] by around 59,117,644 shares. Additionally, 1,205 investors decreased positions by around 49,384,063 shares, while 336 investors held positions by with 1,080,303,005 shares. The mentioned changes placed institutional holdings at 1,188,804,712 shares, according to the latest SEC report filing. ABBV stock had 324 new institutional investments in for a total of 5,450,803 shares, while 106 institutional investors sold positions of 3,829,988 shares during the same period.