AbbVie (NYSE:ABBV) Rating Increased to Strong-Buy at Canaccord Genuity Group

AbbVie (NYSE:ABBV) was upgraded by equities researchers at Canaccord Genuity Group to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

A number of other equities research analysts have also weighed in on ABBV. BMO Capital Markets reiterated an “outperform” rating on shares of AbbVie in a research note on Monday, March 9th. Berenberg Bank set a $275.00 target price on shares of AbbVie in a research note on Tuesday, January 20th. Cantor Fitzgerald decreased their target price on shares of AbbVie from $250.00 to $240.00 and set an “overweight” rating for the company in a research note on Wednesday, April 8th. Piper Sandler boosted their target price on shares of AbbVie from $289.00 to $299.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Finally, Guggenheim boosted their target price on shares of AbbVie from $242.00 to $249.00 and gave the company a “buy” rating in a research note on Friday, April 10th. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $253.43.

AbbVie Trading Up 0.6%

Shares of ABBV opened at $204.95 on Monday. The firm has a market cap of $362.38 billion, a PE ratio of 86.84, a P/E/G ratio of 0.73 and a beta of 0.38. The firm has a fifty day simple moving average of $218.27 and a two-hundred day simple moving average of $222.93. AbbVie has a 1-year low of $170.91 and a 1-year high of $244.81.

AbbVie (NYSE:ABBV) last announced its earnings results on Wednesday, February 4th. The company reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.65 by $0.06. The business had revenue of $16.62 billion during the quarter, compared to analyst estimates of $16.39 billion. AbbVie had a net margin of 6.91% and a negative return on equity of 1,579.75%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.16 EPS. AbbVie has set its FY 2026 guidance at 14.370-14.570 EPS and its Q1 2026 guidance at 2.970-3.010 EPS. As a group, research analysts forecast that AbbVie will post 14.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Perry C. Siatis sold 22,381 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $230.00, for a total transaction of $5,147,630.00. Following the completion of the sale, the executive vice president owned 38,137 shares of the company’s stock, valued at $8,771,510. The trade was a 36.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP David Ryan Purdue sold 5,230 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $233.56, for a total transaction of $1,221,518.80. Following the sale, the senior vice president directly owned 2,654 shares of the company’s stock, valued at approximately $619,868.24. The trade was a 66.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ABBV. Brighton Jones LLC lifted its stake in shares of AbbVie by 17.4% during the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after buying an additional 3,401 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of AbbVie by 72.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after buying an additional 3,064 shares in the last quarter. Schnieders Capital Management LLC. lifted its stake in shares of AbbVie by 5.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company’s stock valued at $3,056,000 after buying an additional 789 shares in the last quarter. Ieq Capital LLC lifted its stake in shares of AbbVie by 4.6% during the 2nd quarter. Ieq Capital LLC now owns 120,035 shares of the company’s stock valued at $22,281,000 after buying an additional 5,274 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC lifted its stake in shares of AbbVie by 117.3% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company’s stock valued at $210,685,000 after buying an additional 612,702 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

About AbbVie

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.