AbbVie Inc (ABBV) is Downgraded by Morgan Stanley to Equal-Weight

AbbVie Inc (ABBV) was Downgraded by Morgan Stanley to ” Equal-Weight”. Earlier the firm had a rating of “Overweight ” on the company shares. Morgan Stanley advised their investors in a research report released on Jun 8, 2016.

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.

On the company’s financial health, AbbVie Inc reported $1.15 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $1.14. The company had revenue of $5958.00 million for the quarter, 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.

AbbVie Inc opened for trading at $62.59 and hit $63.59 on the upside on Tuesday, eventually ending the session at $63.1, with a gain of 0.45% or 0.28 points. The heightened volatility saw the trading volume jump to 1,09,80,086 shares. Company has a market cap of $102,055 M.

In a different news, on Jun 3, 2016, Richard A Gonzalez (Chairman of the Board and CEO) sold 285,953 shares at $63.87 per share price. According to the SEC, on May 12, 2016, Timothy J. Richmond (SVP, Human Resources) sold 21,583 shares at $63.52 per share price. On May 12, 2016, Thomas A. Hurwich (VP, Controller) sold 6,000 shares at $63.60 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.

AbbVie Inc

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