AbbVie Inc. [ABBV] stock Initiated by SVB Leerink analyst, price target now $140

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AbbVie Inc. [NYSE: ABBV] slipped around -4.05 points on Monday, while shares priced at $149.57 at the close of the session, down -2.64%. The company report on July 18, 2022 that Genmab Announces That AbbVie Will Submit Marketing Authorization Application to European Medicines Agency for Epcoritamab (DuoBody®-CD3xCD20) for the Treatment of Relapsed/Refractory Diffuse Large B-Cell Lymphoma (DLBCL).


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Genmab A/S (Nasdaq: GMAB) today announced that AbbVie (NYSE: ABBV) will submit a conditional marketing authorization application (MAA) with the European Medicines Agency (EMA) for subcutaneous epcoritamab (DuoBody®-CD3xCD20), an investigational bispecific antibody, for the treatment of patients with relapsed/refractory diffuse large B-cell lymphoma (DLBCL), in the second half of 2022. Genmab recently announced that the company will submit a biologics license application (BLA) for epcoritamab with the U.S. Food and Drug Administration (FDA) for the treatment of patients with relapsed/refractory large B-cell lymphoma (LBCL), also in the second half of 2022.

The MAA submission is supported by results from the large b-cell lymphoma (LBCL) cohort of the pivotal EPCOREâ„¢ NHL-1 open-label, multi-center trial evaluating the safety and preliminary efficacy of epcoritamab in patients with relapsed, progressive or refractory CD20+ mature B-cell non-Hodgkin lymphoma (B-NHL), including DLBCL. In April 2022, Genmab and AbbVie announced the topline results from the Phase II expansion part of the EPCOREâ„¢ NHL-1 trial. In June 2022, primary results were presented in a late-breaking oral presentation as part of the Presidential Symposium at the 27th Annual Meeting of the European Hematology Association (EHA2022) in Vienna, Austria.

AbbVie Inc. stock is now 10.47% up from its year-to-date (YTD) trading value. ABBV Stock saw the intraday high of $154.471 and lowest of $148.89 per share. The company’s 52-week high price is 175.91, which means current price is +16.61% above from all time high which was touched on 04/08/22.

Compared to the average trading volume of 6.77M shares, ABBV reached a trading volume of 6828151 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $163.19 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 2.20. 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 3.55, with the Price to Sales ratio for ABBV stock in the period of the last 12 months amounting to 4.56. The Price to Book ratio for the last quarter was 16.28, with the Price to Cash per share for the same quarter was set at 4.38. Price to Free Cash Flow for ABBV in the course of the last twelve months was 20.57 with Quick ratio for the last quarter at 0.70.

How has ABBV stock performed recently?

AbbVie Inc. [ABBV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.39. With this latest performance, ABBV shares gained by 8.31% in over the last four-week period, additionally plugging by 12.02% over the last 6 months – not to mention a rise of 27.29% 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 47.60, with the RSI for the last a single of trading hit 44.13, and the three-weeks RSI is set at 48.55 for AbbVie Inc. [ABBV]. The present Moving Average for the last 50 days of trading for this stock 149.57, while it was recorded at 151.65 for the last single week of trading, and 139.12 for the last 200 days.

AbbVie Inc. [ABBV]: Deeper insight into the 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 analysis for AbbVie Inc. [ABBV]

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 0.30%.

Insider trade positions for AbbVie Inc. [ABBV]

There are presently around $185,197 million, or 71.10% of ABBV stock, in the hands of institutional investors. The top three institutional holders of ABBV stocks are: VANGUARD GROUP INC with ownership of 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 $19.91 billion in ABBV stocks shares; and STATE STREET CORP, currently with $11.99 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 July and at the time of the July reporting period, where 1,336 institutional holders increased their position in AbbVie Inc. [NYSE:ABBV] by around 74,882,132 shares. Additionally, 1,461 investors decreased positions by around 58,216,926 shares, while 353 investors held positions by with 1,072,453,612 shares. The mentioned changes placed institutional holdings at 1,205,552,670 shares, according to the latest SEC report filing. ABBV stock had 198 new institutional investments in for a total of 2,499,437 shares, while 128 institutional investors sold positions of 9,589,025 shares during the same period.

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