AbbVie Inc. [NYSE: ABBV] gained 3.75% on the last trading session, reaching $143.47 price per share at the time. The company report on June 21, 2022 that AbbVie Submits Supplemental New Drug Application to U.S. FDA for Atogepant (QULIPTA™) to Support Label Expansion for the Preventive Treatment of Migraine.
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– Submission is based on pivotal Phase 3 PROGRESS chronic migraine study evaluating atogepant (QULIPTATM) in adult patients that met primary endpoint of statistically significant reduction from baseline in mean monthly migraine days compared to placebo.
– If approved, atogepant (QULIPTA) would be the first gepant (oral calcitonin gene-related peptide [CGRP] receptor antagonist) with a broad preventive treatment of migraine indication that expands treatment to patients with chronic migraine.
AbbVie Inc. represents 1.77 billion in outstanding shares, while the company has a total market value of $255.12 billion with the latest information. ABBV stock price has been found in the range of $139.70 to $143.965.
If compared to the average trading volume of 7.20M shares, ABBV reached a trading volume of 7128495 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $163.01 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.
SVB Leerink have made an estimate for AbbVie Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on May 23, 2022. The new note on the price target was released on May 06, 2022, representing the official price target for AbbVie Inc. stock. Previously, the target price had yet another raise to $192, while Morgan Stanley analysts kept a Overweight rating on ABBV stock. On February 28, 2022, analysts increased their price target for ABBV shares from 129 to 147.
The Average True Range (ATR) for AbbVie Inc. is set at 3.61, with the Price to Sales ratio for ABBV stock in the period of the last 12 months amounting to 4.50. The Price to Book ratio for the last quarter was 15.61, with the Price to Cash per share for the same quarter was set at 4.26. Price to Free Cash Flow for ABBV in the course of the last twelve months was 20.28 with Quick ratio for the last quarter at 0.70.
Trading performance analysis for ABBV stock
AbbVie Inc. [ABBV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.90. With this latest performance, ABBV shares dropped by -5.44% in over the last four-week period, additionally plugging by 10.76% over the last 6 months – not to mention a rise of 25.05% 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 44.52, with the RSI for the last a single of trading hit 48.50, and the three-weeks RSI is set at 43.73 for AbbVie Inc. [ABBV]. The present Moving Average for the last 50 days of trading for this stock 151.63, while it was recorded at 139.32 for the last single week of trading, and 135.13 for the last 200 days.
AbbVie Inc. [ABBV]: A deeper dive into fundamental analysis
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.
AbbVie Inc. [ABBV]: An earnings per share (EPS) analysis
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 1.87%.
An analysis of insider ownership at AbbVie Inc. [ABBV]
There are presently around $167,004 million, or 70.90% of ABBV stock, in the hands of institutional investors. The top three institutional holders of ABBV stocks are: VANGUARD GROUP INC with ownership of 150,518,780, which is approximately 2.875% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 129,630,878 shares of the stock with an approximate value of $17.93 billion in ABBV stocks shares; and STATE STREET CORP, currently with $10.79 billion in ABBV stock with ownership of nearly -1.663% 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 1,380 institutional holders increased their position in AbbVie Inc. [NYSE:ABBV] by around 75,139,766 shares. Additionally, 1,467 investors decreased positions by around 59,036,067 shares, while 338 investors held positions by with 1,073,546,237 shares. The mentioned changes placed institutional holdings at 1,207,722,070 shares, according to the latest SEC report filing. ABBV stock had 220 new institutional investments in for a total of 2,578,578 shares, while 123 institutional investors sold positions of 9,824,914 shares during the same period.