AbbVie Inc (ABBV) reported quarterly earnings results on Thursday, Apr-28-2016. The company said it had a profit of $1.15 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $1.14. The company posted revenue of $5958.00 million in the period, compared to analysts expectations of $5978.41 million. The company’s revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 EPS.
Many Wall Street Analysts have commented on AbbVie Inc. Societe Generale Initiated AbbVie Inc on Apr 6, 2016 to “Sell”, Price Target of the shares are set at $47.Deutsche Bank Initiated AbbVie Inc on Mar 15, 2016 to “Hold”, Price Target of the shares are set at $63.AbbVie Inc was Upgraded by Citigroup to ” Buy” on Feb 23, 2016.
AbbVie Inc closed down -0.23 points or -0.38% at $60.7 with 66,79,223 shares getting traded on Wednesday. Post opening the session at $60.93, the shares hit an intraday low of $60.25 and an intraday high of $61.48 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Mar 8, 2016, Laura J Schumacher (Executive Vice President) sold 25,000 shares at $56.12 per share price. According to the SEC, on Jul 31, 2015, Richard A Gonzalez (Chairman of the Board and CEO) sold 40,021 shares at $71.25 per share price. On May 21, 2015, Thomas A. Hurwich (VP, Controller) sold 6,200 shares at $66.00 per share price, according to the Form-4 filing with the securities and exchange commission.
AbbVie Inc. (AbbVie) is a global research-based biopharmaceutical company. The Company develops and markets therapies that address a range of diseases. The Company’s products are focused on treating conditions such as chronic autoimmune diseases including rheumatoid arthritis psoriasis and Crohn’s disease; hepatitis C (HCV); human immunodeficiency virus (HIV); endometriosis; thyroid disease; Parkinson’s disease; complications associated with chronic kidney disease and cystic fibrosis and other health conditions such as low testosterone. AbbVie also has a pipeline of new medicines including over 30 compounds or indications in Phase II or Phase III development across a range of medical specialties such as immunology virology/liver disease oncology renal disease neurological diseases and women’s health. The Company’s product portfolio includes HUMIRA HCV products Additional Virology products Metabolics/Hormones products Endocrinology products and other products.