AbbVie (NYSE:ABBV – Get Free Report) had its target price increased by Cantor Fitzgerald from $265.00 to $285.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 13.40% from the stock’s current price.
Several other research analysts have also weighed in on the stock. Morgan Stanley upped their price objective on shares of AbbVie from $270.00 to $278.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Piper Sandler restated an “overweight” rating and issued a $298.00 target price on shares of AbbVie in a research note on Tuesday, June 23rd. Evercore set a $235.00 price target on AbbVie in a report on Friday, May 15th. Canaccord Genuity Group raised their price objective on shares of AbbVie from $273.00 to $282.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Finally, Royal Bank Of Canada raised their price target on shares of AbbVie from $260.00 to $280.00 and gave the company an “outperform” rating in a report on Friday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $270.62.
Get Our Latest Analysis on ABBV
AbbVie Stock Up 0.2%
AbbVie (NYSE:ABBV – Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The company reported $3.65 earnings per share for the quarter, beating the consensus estimate of $3.61 by $0.04. AbbVie had a negative return on equity of 466.39% and a net margin of 9.80%.The firm had revenue of $16.99 billion for the quarter, compared to analyst estimates of $16.80 billion. During the same period in the previous year, the firm earned $2.97 earnings per share. AbbVie’s quarterly revenue was up 10.2% on a year-over-year basis. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. Analysts expect that AbbVie will post 14.12 EPS for the current fiscal year.
Institutional Investors Weigh In On AbbVie
Institutional investors and hedge funds have recently bought and sold shares of the business. Litman Gregory Wealth Management LLC acquired a new stake in AbbVie in the 4th quarter valued at $28,000. Imprint Wealth LLC increased its holdings in shares of AbbVie by 56.2% during the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock worth $29,000 after buying an additional 45 shares in the last quarter. Legacy Wealth Managment LLC ID grew its holdings in shares of AbbVie by 115.9% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock worth $31,000 after purchasing an additional 73 shares during the last quarter. IFC & Insurance Marketing Inc. acquired a new position in shares of AbbVie during the fourth quarter valued at $31,000. Finally, WestEnd Advisors LLC increased its position in AbbVie by 160.4% in the fourth quarter. WestEnd Advisors LLC now owns 138 shares of the company’s stock worth $32,000 after purchasing an additional 85 shares during the period. 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.
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