AbbVie (NYSE:ABBV) Coverage Initiated by Analysts at Scotiabank

Scotiabank initiated coverage on shares of AbbVie (NYSE:ABBV) in a research note issued on Thursday, Marketbeat.com reports. The firm set a “sector outperform” rating and a $280.00 price target on the stock. Scotiabank’s price target points to a potential upside of 17.20% from the stock’s previous close.

A number of other analysts have also recently commented on ABBV. Erste Group Bank cut shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Tuesday, October 14th. Raymond James Financial set a $256.00 price target on shares of AbbVie in a research report on Monday, November 3rd. Guggenheim upped their target price on AbbVie from $227.00 to $242.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. BMO Capital Markets increased their target price on AbbVie from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, September 12th. Finally, Berenberg Bank upgraded shares of AbbVie from a “hold” rating to a “buy” rating and lifted their target price for the company from $170.00 to $270.00 in a research report on Wednesday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $238.55.

AbbVie Stock Up 2.4%

NYSE ABBV traded up $5.68 on Thursday, reaching $238.91. 3,182,693 shares of the stock traded hands, compared to its average volume of 6,380,327. AbbVie has a 12 month low of $163.81 and a 12 month high of $244.81. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. The company has a fifty day moving average price of $224.10 and a 200-day moving average price of $203.43. The company has a market cap of $422.25 billion, a price-to-earnings ratio of 113.72, a PEG ratio of 1.42 and a beta of 0.50.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, October 31st. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.09. The firm had revenue of $15.78 billion for the quarter, compared to the consensus estimate of $15.58 billion. AbbVie had a net margin of 6.45% and a return on equity of 699.66%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm earned $3.00 earnings per share. AbbVie has set its Q4 2025 guidance at 3.320-3.360 EPS. As a group, research analysts forecast that AbbVie will post 12.31 EPS for the current fiscal year.

Institutional Trading of AbbVie

A number of large investors have recently made changes to their positions in ABBV. Marshall & Sullivan Inc. WA purchased a new position in shares of AbbVie during the 2nd quarter worth approximately $25,000. Evolution Wealth Management Inc. purchased a new stake in shares of AbbVie during the 2nd quarter valued at $26,000. TD Capital Management LLC raised its holdings in AbbVie by 82.9% in the first quarter. TD Capital Management LLC now owns 128 shares of the company’s stock valued at $27,000 after buying an additional 58 shares during the period. Spurstone Advisory Services LLC acquired a new position in shares of AbbVie during the 2nd quarter valued at $28,000. Finally, Caitlin John LLC purchased a new position in AbbVie in the 3rd quarter worth approximately $33,000. 70.23% of the stock is owned by institutional investors and hedge funds.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.