Leerink Partnrs Upgrades AbbVie (NYSE:ABBV) to "Strong-Buy"

AbbVie (NYSE:ABBV - Get Free Report) was upgraded by Leerink Partnrs from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Friday,Zacks.com reports. Leerink Partnrs also issued estimates for AbbVie's FY2026 earnings at $13.69 EPS, FY2027 earnings at $15.36 EPS and FY2028 earnings at $16.79 EPS.

A number of other brokerages have also recently weighed in on ABBV. Sanford C. Bernstein began coverage on shares of AbbVie in a research report on Thursday, October 17th. They set a "market perform" rating and a $203.00 price target on the stock. UBS Group boosted their price objective on AbbVie from $195.00 to $200.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. Wolfe Research started coverage on shares of AbbVie in a research note on Friday, November 15th. They issued an "outperform" rating and a $205.00 price target on the stock. Guggenheim boosted their price objective on shares of AbbVie from $212.00 to $221.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. Finally, Barclays lifted their price target on AbbVie from $200.00 to $212.00 and gave the company an "overweight" rating in a research note on Monday, October 7th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, AbbVie has an average rating of "Moderate Buy" and an average target price of $203.50.

AbbVie Trading Up 3.0 %

AbbVie stock traded up $5.22 during mid-day trading on Friday, hitting $176.95. The stock had a trading volume of 11,328,616 shares, compared to its average volume of 7,564,238. The stock has a market capitalization of $312.70 billion, a PE ratio of 61.44, a P/E/G ratio of 2.09 and a beta of 0.63. AbbVie has a 12 month low of $137.65 and a 12 month high of $207.32. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The stock has a 50-day simple moving average of $189.47 and a two-hundred day simple moving average of $181.17.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm had revenue of $14.46 billion for the quarter, compared to analysts' expectations of $14.28 billion. During the same period last year, the firm earned $2.95 earnings per share. The business's revenue for the quarter was up 3.8% on a year-over-year basis. As a group, sell-side analysts forecast that AbbVie will post 10.95 EPS for the current year.

Hedge Funds Weigh In On AbbVie

Hedge funds and other institutional investors have recently bought and sold shares of the company. RPg Family Wealth Advisory LLC acquired a new stake in shares of AbbVie during the 3rd quarter worth approximately $28,000. Fairway Wealth LLC bought a new stake in AbbVie in the second quarter valued at $26,000. Ridgewood Investments LLC acquired a new position in shares of AbbVie during the second quarter valued at about $27,000. Marquette Asset Management LLC bought a new position in shares of AbbVie during the 3rd quarter worth about $39,000. Finally, Mizuho Securities Co. Ltd. grew its stake in shares of AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company's stock valued at $39,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 70.23% of the company's stock.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.