AbbVie (NYSE:ABBV) Given New $285.00 Price Target at Cantor Fitzgerald

by · The Markets Daily

AbbVie (NYSE:ABBV – Get Free Report) had its target price hoisted by Cantor Fitzgerald from $265.00 to $285.00 in a report released on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 13.40% from the company’s current price.

A number of other research analysts have also recently issued reports on the stock. HSBC restated a “buy” rating and set a $300.00 price objective on shares of AbbVie in a report on Monday, July 6th. UBS Group boosted their price target on shares of AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a report on Monday, July 13th. DZ Bank upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Piper Sandler reaffirmed an “overweight” rating and set a $298.00 price objective on shares of AbbVie in a research note on Tuesday, June 23rd. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of AbbVie in a report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $270.62.

View Our Latest Research Report on ABBV

AbbVie Trading Up 0.2%

NYSE ABBV opened at $251.33 on Monday. AbbVie has a 12 month low of $187.62 and a 12 month high of $267.47. The stock has a 50-day simple moving average of $239.10 and a 200 day simple moving average of $224.08. The company has a market capitalization of $444.05 billion, a PE ratio of 71.00, a P/E/G ratio of 0.83 and a beta of 0.30.

AbbVie (NYSE:ABBV – Get Free Report) last issued its earnings results on Friday, July 31st. The company reported $3.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.61 by $0.04. The firm had revenue of $16.99 billion for the quarter, compared to analysts’ expectations of $16.80 billion. AbbVie had a negative return on equity of 466.39% and a net margin of 9.80%.The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.97 earnings per share. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. As a group, sell-side analysts predict that AbbVie will post 14.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. ACT Advisors LLC. boosted its position in AbbVie by 2.5% during the 2nd quarter. ACT Advisors LLC. now owns 1,688 shares of the company’s stock worth $425,000 after acquiring an additional 41 shares during the last quarter. Willner & Heller LLC boosted its holdings in AbbVie by 0.7% during the second quarter. Willner & Heller LLC now owns 5,852 shares of the company’s stock worth $1,472,000 after purchasing an additional 43 shares during the last quarter. B.O.S.S. Retirement Advisors LLC boosted its holdings in AbbVie by 3.1% during the second quarter. B.O.S.S. Retirement Advisors LLC now owns 1,427 shares of the company’s stock worth $359,000 after purchasing an additional 43 shares during the last quarter. Leslie Global Wealth LLC grew its position in AbbVie by 1.5% in the second quarter. Leslie Global Wealth LLC now owns 2,983 shares of the company’s stock valued at $751,000 after purchasing an additional 44 shares in the last quarter. Finally, Bank of Jackson Hole Trust increased its stake in AbbVie by 0.6% in the 4th quarter. Bank of Jackson Hole Trust now owns 7,213 shares of the company’s stock valued at $1,648,000 after buying an additional 44 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Company Profile

(Get Free Report)

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.

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