AbbVie Inc. [ABBV] stock Initiated by Credit Suisse analyst, price target now $170

AbbVie Inc. [NYSE: ABBV] gained 1.37% or 2.13 points to close at $157.11 with a heavy trading volume of 6491715 shares. The company report on November 21, 2022 that U.S. FDA Accepts for Priority Review the Biologics License Application for Epcoritamab (DuoBody®-CD3xCD20) for the Treatment of Relapsed/Refractory Large B-Cell Lymphoma.

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The application is supported by data from EPCORE™ NHL-1 Phase 1/2 trial evaluating the safety and preliminary efficacy of subcutaneous epcoritamab in patients with relapsed, progressive or refractory CD20+ mature B-cell non-Hodgkin’s lymphoma, including large B-cell lymphoma.

If approved for relapsed/refractory large B-cell lymphoma after two or more lines of systemic therapy, epcoritamab could become the first subcutaneous bispecific antibody available for the treatment of large B-cell lymphoma.

It opened the trading session at $155.395, the shares rose to $158.629 and dropped to $154.43, the range by which the price of stock traded the whole day. The daily chart for ABBV points out that the company has recorded 6.13% gains over the past six months. However, it is still -36.61% lower than its most recent low trading price.

If we look at the average trading volume of 5.47M shares, ABBV reached to a volume of 6491715 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 $158.50 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 2.30. 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.

Credit Suisse have made an estimate for AbbVie Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on November 18, 2022. The new note on the price target was released on November 08, 2022, representing the official price target for AbbVie Inc. stock. Previously, the target price had yet another drop from $178 to $162, while Atlantic Equities kept a Neutral rating on ABBV stock.

The Average True Range (ATR) for AbbVie Inc. is set at 3.84, with the Price to Sales ratio for ABBV stock in the period of the last 12 months amounting to 4.72. The Price to Book ratio for the last quarter was 17.40, with the Price to Cash per share for the same quarter was set at 6.84. Price to Free Cash Flow for ABBV in the course of the last twelve months was 22.60 with Quick ratio for the last quarter at 0.80.

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 3.54. With this latest performance, ABBV shares gained by 6.83% in over the last four-week period, additionally plugging by 6.13% over the last 6 months – not to mention a rise of 35.16% 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 69.22, with the RSI for the last a single of trading hit 75.86, and the three-weeks RSI is set at 64.87 for AbbVie Inc. [ABBV]. The present Moving Average for the last 50 days of trading for this stock 145.15, while it was recorded at 153.83 for the last single week of trading, and 148.40 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 0.80 and a Current Ratio set at 0.90.

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 -0.40%.

An analysis of insider ownership at AbbVie Inc. [ABBV]

There are presently around $192,761 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 156,022,414, which is approximately 1.59% of the company’s market cap and around 0.11% of the total institutional ownership; BLACKROCK INC., holding 132,960,149 shares of the stock with an approximate value of $20.89 billion in ABBV stocks shares; and STATE STREET CORP, currently with $12.17 billion in ABBV stock with ownership of nearly 0.475% of the company’s market capitalization.

Positions in AbbVie Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 1,422 institutional holders increased their position in AbbVie Inc. [NYSE:ABBV] by around 48,799,322 shares. Additionally, 1,327 investors decreased positions by around 45,788,891 shares, while 375 investors held positions by with 1,132,330,378 shares. The mentioned changes placed institutional holdings at 1,226,918,591 shares, according to the latest SEC report filing. ABBV stock had 125 new institutional investments in for a total of 5,607,115 shares, while 131 institutional investors sold positions of 2,415,334 shares during the same period.


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