AbbVie (ABBV) Given a $85.00 Price Target by Credit Suisse Group Analysts

AbbVie (NYSE:ABBV) has been assigned a $85.00 target price by equities researchers at Credit Suisse Group in a research report issued to clients and investors on Friday. The firm presently has a “hold” rating on the stock. Credit Suisse Group’s price objective would indicate a potential upside of 6.84% from the company’s previous close.

Several other brokerages have also recently weighed in on ABBV. Bank of America boosted their target price on AbbVie from $105.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, August 22nd. BMO Capital Markets restated a “sell” rating and set a $78.00 target price on shares of AbbVie in a report on Wednesday, August 22nd. Jefferies Financial Group set a $100.00 target price on AbbVie and gave the stock a “buy” rating in a report on Sunday, July 15th. Zacks Investment Research cut AbbVie from a “buy” rating to a “hold” rating in a report on Saturday, July 14th. Finally, Berenberg Bank started coverage on AbbVie in a report on Thursday, July 12th. They issued a “hold” rating and a $105.00 price objective on the stock. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $105.68.

NYSE:ABBV opened at $79.56 on Friday. AbbVie has a 12 month low of $77.50 and a 12 month high of $125.86. The company has a quick ratio of 0.71, a current ratio of 0.80 and a debt-to-equity ratio of 8.70. The company has a market cap of $117.89 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 0.77 and a beta of 1.62.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, November 2nd. The company reported $2.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.01 by $0.13. The business had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $8.23 billion. AbbVie had a return on equity of 362.05% and a net margin of 20.84%. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.41 EPS. Equities research analysts forecast that AbbVie will post 7.86 earnings per share for the current year.

In other AbbVie news, EVP Michael Severino sold 50,000 shares of the company’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $97.52, for a total transaction of $4,876,000.00. Following the transaction, the executive vice president now directly owns 111,481 shares in the company, valued at $10,871,627.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of ABBV. Signature Estate & Investment Advisors LLC acquired a new stake in AbbVie in the third quarter valued at about $112,000. First Mercantile Trust Co. acquired a new position in shares of AbbVie in the 2nd quarter valued at $150,000. MUFG Securities EMEA plc acquired a new position in shares of AbbVie in the 2nd quarter valued at $157,000. Rainier Group Investment Advisory LLC acquired a new position in shares of AbbVie in the 1st quarter valued at $161,000. Finally, Kiley Juergens Wealth Management LLC boosted its holdings in shares of AbbVie by 69.3% in the 3rd quarter. Kiley Juergens Wealth Management LLC now owns 1,761 shares of the company’s stock valued at $166,000 after purchasing an additional 721 shares during the last quarter. 69.37% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, to treat adults with genotype 1 chronic hepatitis C.

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Analyst Recommendations for AbbVie (NYSE:ABBV)

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