Price Target Update on AbbVie (NYSE:ABBV)

AbbVie (NYSE:ABBV) : 13 investment research analysts covering AbbVie (NYSE:ABBV) have an average price target of $71.77 for the near short term. The highest target price given by the Brokerage Firm to the stock is $90 and the lowest target is $47 for the short term. Analysts expect the variance to be within $10.83 of the average price.

Other Equity analysts have also commented on the company shares. BMO Capital downgrades its rating on AbbVie (NYSE:ABBV). Analysts at the BMO Capital have a current rating of Market Perform on the shares. The shares were previously rated Outperform. The rating by the firm was issued on June 10, 2016.

AbbVie (NYSE:ABBV): stock turned positive on Thursday. Though the stock opened at $60.86, the bulls momentum made the stock top out at $61.32 level for the day. The stock recorded a low of $60.62 and closed the trading day at $61.31, in the green by 1.52%. The total traded volume for the day was 5,328,196. The stock had closed at $60.39 in the previous days trading.

The company shares have dropped -13.51% from its 1 Year high price. On Jul 21, 2015, the shares registered one year high at $71.60 and the one year low was seen on Oct 22, 2015. The 50-Day Moving Average price is $61.59 and the 200 Day Moving Average price is recorded at $58.14. On the companys insider trading activities, The Securities and Exchange Commission has divulged that Gonzalez Richard A, director officer (Chairman of the Board and CEO) of Abbvie Inc., had unloaded 285,953 shares at an average price of $63.87 in a transaction dated on June 2, 2016. The total value of the transaction was worth $18,263,818.

AbbVie Inc. (AbbVie) is a global, research-based biopharmaceutical company. The Company develops and markets therapies that address a range of diseases. The Companys products are focused on treating conditions, such as chronic autoimmune diseases, including rheumatoid arthritis, psoriasis and Crohns disease; hepatitis C (HCV); human immunodeficiency virus (HIV); endometriosis; thyroid disease; Parkinsons 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 womens health. The Companys product portfolio includes HUMIRA, HCV products, Additional Virology products, Metabolics/Hormones products, Endocrinology products and other products.

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