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

AbbVie (NYSE:ABBV) has been given a $106.00 price objective by equities research analysts at Leerink Swann in a research report issued on Tuesday. The brokerage presently has a “buy” rating on the stock. Leerink Swann’s price objective suggests a potential upside of 11.10% from the company’s previous close. Leerink Swann also issued estimates for AbbVie’s Q1 2018 earnings at $1.56 EPS and Q4 2018 earnings at $1.89 EPS.

Other research analysts have also recently issued reports about the stock. Societe Generale upped their price objective on shares of AbbVie in a research report on Tuesday, November 21st. Goldman Sachs Group reiterated a “buy” rating and set a $100.00 price target (up from $85.00) on shares of AbbVie in a research report on Friday, September 8th. Jefferies Group reiterated a “buy” rating and set a $94.00 price target on shares of AbbVie in a research report on Friday, September 8th. Piper Jaffray Companies reiterated a “buy” rating and set a $100.00 price target on shares of AbbVie in a research report on Friday, September 15th. Finally, SunTrust Banks reiterated a “buy” rating and set a $95.00 price target on shares of AbbVie in a research report on Wednesday, September 13th. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. AbbVie has a consensus rating of “Buy” and an average price target of $96.66.

AbbVie (NYSE ABBV) opened at $95.41 on Tuesday. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32. The firm has a market cap of $152,012.06, a P/E ratio of 17.93, a P/E/G ratio of 1.34 and a beta of 1.52. AbbVie has a 52-week low of $58.80 and a 52-week high of $98.52.

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

In related news, SVP Azita Saleki-Gerhardt sold 8,300 shares of the firm’s stock in a transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Henry O. Gosebruch sold 18,300 shares of the firm’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $90.55, for a total value of $1,657,065.00. Following the completion of the sale, the insider now directly owns 81,287 shares of the company’s stock, valued at approximately $7,360,537.85. The disclosure for this sale can be found here. Insiders sold 277,125 shares of company stock worth $25,891,756 in the last 90 days. Company insiders own 0.23% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Savant Capital LLC lifted its position in AbbVie by 1.3% during the second quarter. Savant Capital LLC now owns 61,132 shares of the company’s stock valued at $4,433,000 after buying an additional 793 shares during the period. Princeton Capital Management Inc. purchased a new position in AbbVie during the second quarter valued at $1,394,000. Accident Compensation Corp lifted its position in AbbVie by 24.7% during the first quarter. Accident Compensation Corp now owns 66,200 shares of the company’s stock valued at $4,314,000 after buying an additional 13,100 shares during the period. Investec Asset Management LTD lifted its position in AbbVie by 3.6% during the first quarter. Investec Asset Management LTD now owns 166,978 shares of the company’s stock valued at $10,880,000 after buying an additional 5,801 shares during the period. Finally, Palisade Asset Management LLC lifted its position in AbbVie by 17.9% during the second quarter. Palisade Asset Management LLC now owns 68,311 shares of the company’s stock valued at $4,953,000 after buying an additional 10,381 shares during the period. 69.32% of the stock is owned by 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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