Abbvie Inc [NYSE: ABBV] plunged by -$0.99 during the normal trading session on while it closed the day at $178.00. The company report on February 28, 2024 at 12:05 AM that AbbVie and OSE Immunotherapeutics Announce Partnership to Develop a Novel Monoclonal Antibody for the Treatment of Chronic Inflammation.
– Global license and collaboration agreement to focus on the development of OSE-230, a monoclonal antibody designed to resolve chronic inflammation.
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– OSE Immunotherapeutics to receive an upfront payment of $48 million and will be eligible to receive up to an additional $665 million in milestone payments.
Abbvie Inc stock has also gained 1.63% of its value over the past 7 days. However, ABBV stock has inclined by 27.97% in the 3 months of the year. Over the past six months meanwhile, it has gained 20.74% and gained 14.86% year-on date.
The market cap for ABBV stock reached $314.43 billion, with 1.77 billion shares outstanding and 1.76 billion shares in the current float. Compared to the average trading volume of 5.40M shares, ABBV reached a trading volume of 4257366 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 $180.38 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 1.89. 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.
William Blair have made an estimate for Abbvie Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 29, 2024. The new note on the price target was released on December 18, 2023, representing the official price target for Abbvie Inc stock.
The Average True Range (ATR) for Abbvie Inc is set at 2.84, with the Price to Sales ratio for ABBV stock in the period of the last 12 months amounting to 5.79. The Price to Book ratio for the last quarter was 30.34, with the Price to Cash per share for the same quarter was set at 7.26. Price to Free Cash Flow for ABBV in the course of the last twelve months was 14.28 with Quick ratio for the last quarter at 0.76.
ABBV stock trade performance evaluation
Abbvie Inc [ABBV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.63. With this latest performance, ABBV shares gained by 8.60% in over the last four-week period, additionally plugging by 20.74% over the last 6 months – not to mention a rise of 15.37% 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 69.55, with the RSI for the last a single of trading hit 67.69, and the three-weeks RSI is set at 69.98 for Abbvie Inc [ABBV]. The present Moving Average for the last 50 days of trading for this stock 165.81, while it was recorded at 178.13 for the last single week of trading, and 149.45 for the last 200 days.
Abbvie Inc [ABBV]: An insightful look at the core fundamentals
Abbvie Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.76 and a Current Ratio set at 0.87.
Earnings per share (EPS) analysis for Abbvie Inc [ABBV] stock
With the latest financial reports released by the company, Abbvie Inc posted 2.46/share EPS, while the average EPS was predicted by analysts to be reported at 2.46/share. 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 3.28%.
Abbvie Inc [ABBV]: Institutional Ownership
The top three institutional holders of ABBV stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ABBV stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ABBV stock with ownership which is approximately 5.8325%.
