AbbVie Inc. [NYSE: ABBV] loss -0.13% or -0.22 points to close at $163.72 with a heavy trading volume of 5479865 shares. The company report on December 6, 2022 that AbbVie Launches Strategic Collaboration with HotSpot Therapeutics to Further Expand Immunology Pipeline.
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Collaboration leverages HotSpot’s Smart Allostery™ drug discovery platform for the development of the first and only small molecule IRF5 (interferon regulatory factor 5) inhibitor for the potential treatment of autoimmune diseases.
HotSpot to receive an upfront cash payment of $40 million with potential for further milestones and royalties.
It opened the trading session at $164.03, the shares rose to $164.385 and dropped to $161.55, the range by which the price of stock traded the whole day. The daily chart for ABBV points out that the company has recorded 9.78% gains over the past six months. However, it is still -37.34% lower than its most recent low trading price.
If we look at the average trading volume of 5.64M shares, ABBV reached to a volume of 5479865 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 $159.44 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 3.37, with the Price to Sales ratio for ABBV stock in the period of the last 12 months amounting to 4.95. The Price to Book ratio for the last quarter was 18.13, with the Price to Cash per share for the same quarter was set at 6.80. Price to Free Cash Flow for ABBV in the course of the last twelve months was 23.69 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 3.49. With this latest performance, ABBV shares gained by 12.69% in over the last four-week period, additionally plugging by 9.78% over the last 6 months – not to mention a rise of 34.92% 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 74.28, with the RSI for the last a single of trading hit 79.60, and the three-weeks RSI is set at 69.69 for AbbVie Inc. [ABBV]. The present Moving Average for the last 50 days of trading for this stock 149.00, while it was recorded at 162.83 for the last single week of trading, and 149.27 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 $200,919 million, or 70.80% of ABBV stock, in the hands of institutional investors. The top three institutional holders of ABBV stocks are: VANGUARD GROUP INC with ownership of 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 $21.77 billion in ABBV stocks shares; and STATE STREET CORP, currently with $12.69 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 1,426 institutional holders increased their position in AbbVie Inc. [NYSE:ABBV] by around 49,092,648 shares. Additionally, 1,324 investors decreased positions by around 45,731,022 shares, while 374 investors held positions by with 1,132,384,923 shares. The mentioned changes placed institutional holdings at 1,227,208,593 shares, according to the latest SEC report filing. ABBV stock had 126 new institutional investments in for a total of 5,690,621 shares, while 131 institutional investors sold positions of 2,417,036 shares during the same period.