AbbVie (ABBV) PT Set at $106.00 by Leerink Swann

AbbVie (NYSE:ABBV) has been given a $106.00 price target by equities research analysts at Leerink Swann in a research note issued on Tuesday. The firm currently has a “buy” rating on the stock. Leerink Swann’s price objective points to a potential upside of 12.29% from the company’s current price. Leerink Swann also issued estimates for AbbVie’s Q1 2018 earnings at $1.56 EPS and Q4 2018 earnings at $1.89 EPS.

A number of other research analysts have also weighed in on ABBV. Evercore ISI began coverage on AbbVie in a report on Wednesday, August 16th. They issued an “outperform” rating and a $95.00 price objective on the stock. SunTrust Banks reissued a “buy” rating and issued a $95.00 price objective on shares of AbbVie in a report on Wednesday, September 13th. UBS lowered AbbVie from a “buy” rating to a “neutral” rating and increased their price objective for the company from $79.00 to $92.00 in a report on Monday, September 25th. Argus increased their price objective on AbbVie from $90.00 to $110.00 and gave the company a “buy” rating in a report on Friday, September 29th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $100.00 price objective on shares of AbbVie in a report on Friday, September 15th. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $96.66.

AbbVie (NYSE ABBV) opened at $94.40 on Tuesday. The company has a market capitalization of $150,390.00, a price-to-earnings ratio of 17.93, a PEG ratio of 1.34 and a beta of 1.53. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32. AbbVie has a 1 year low of $58.80 and a 1 year high of $98.52.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, October 27th. The company reported $1.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.02. The firm had revenue of $7 billion during the quarter, compared to analyst estimates of $7 billion. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.21 EPS. research analysts anticipate that AbbVie will post 5.55 earnings per share for the current year.

In related news, SVP Azita Saleki-Gerhardt sold 8,300 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $85.02, for a total value of $705,666.00. Following the completion of the sale, the senior vice president now owns 93,099 shares of the company’s stock, valued at $7,915,276.98. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Robert A. Michael sold 6,699 shares of the stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $88.00, for a total value of $589,512.00. Following the completion of the sale, the vice president now directly owns 10,007 shares of the company’s stock, valued at approximately $880,616. The disclosure for this sale can be found here. In the last ninety days, insiders sold 277,125 shares of company stock valued at $25,891,756. Insiders own 0.23% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Bristlecone Advisors LLC acquired a new stake in AbbVie during the third quarter worth $113,000. Acropolis Investment Management LLC acquired a new stake in AbbVie during the second quarter worth $106,000. Ffcm LLC boosted its position in shares of AbbVie by 167.2% during the second quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after buying an additional 963 shares during the period. Hudock Capital Group LLC boosted its position in shares of AbbVie by 109.5% during the second quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock worth $111,000 after buying an additional 806 shares during the period. Finally, Hershey Trust Co. purchased a new position in shares of AbbVie during the third quarter worth $139,000. 69.32% of the stock is owned by hedge funds and other institutional investors.

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About AbbVie

AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.

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