Headquartered in North Chicago, Illinois, Abbvie Inc. (ABBV) is a biopharmaceutical company that discovers, develops, manufactures and sells medicines from around the world. Valued at $361.9 billion from its market capitalization, the company discovers and develops medicines and treatments that solve health problems across immunology, oncology, aesthetics, neuroscience and eye care.
Companies over $200 billion are commonly referred to as “megacap stocks,” and ABBV certainly fits that description, with its market capitalization exceeding this threshold, reflecting the substantial size, impact and advantage of the general pharmaceutical manufacturer industry. ABBV stands out in the field of immunology and oncology, featuring an extensive product portfolio featuring key drugs such as Humira, Imbruvica and Rinvoq, ensuring a stable pipeline of significant R&D investments and innovative treatments, enhancing its global presence.
Active Investors: Free newsletter behind the hottest stock headlines to uncover new trade ideas
Despite its remarkable strength, ABBV slipped 1.1% from its 52-week high of $207.32, achieved on October 31, 2024. Over the past three months, ABBV shares have surpassed the healthcare select sector SPDR fund (XLV) marginal gains in the same time frame by 12%.
In the long term, ABBV shares rose 15.4% on a YTD basis, up 14.5% over the last 52 weeks, 7% ahead of XLV's YTD increase and surpassed the small returns over the last year.
To confirm bullish trends, ABBV has been trading above the 50- and 200-day moving averages since late January.
The strong performance of ABBV is further supported by the strength of the neuroscience and oncology product portfolio, along with the success of Skyrizi and Rinvoq in immunology and important contributions from new launches, Venclexta, Vraylar, and new therapies such as Ubrelvy, Elahere, and Quipta. Furthermore, Vyalev's approval for advanced Parkinson's disease further strengthens the portfolio, while ongoing research from Botox and Juvederm expands future growth opportunities. Furthermore, the continued acquisition of ABBV has skyrocketed, and the incorporation of advanced technology is driving that outlook.
On January 31st, ABBV shares closed more than 4% after reporting fourth quarter results. Revenue is $14.9 billion, an analyst estimate of $15.1 billion. The company's adjusted EPS was $2.16, with analysts' estimate of $2.13. ABBV expects the year-round adjusted EPS to be between $12.12 and $12.32.
ABBV rival Eli Lilly and Company (LLY) shares have earned 17.3% on a YTD basis and earned 18.3% returns over the past 52 weeks.
Wall Street analysts are moderately bullish on ABBV's outlook. The stock has a consensus “Medium Buy” rating from 25 analysts covering it. The average price target of $207.20 suggests a potential upside of 1.1% from the current price level.
On the date of publication, Neha Panjwani had no position (directly or indirectly) in any of the securities mentioned in this article. All information and data in this article is for informational purposes only. For more information, see BarChart's disclosure policy.
More news from the bar chart
The views and opinions expressed herein are the views and opinions of the authors and are not necessarily Nasdaq, Inc. It does not reflect the opinions of
