AbbVie (ABBV): Price Target and June Short Interest Disclosure

AbbVie (ABBV) : 13 investment research analysts covering AbbVie (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.

AbbVie (ABBV) stated loss of 7,059,007 shares or 9% in the short interest. The short interest registered from 78,214,101 on June 15,2016 to 71,155,094 on June 30,2016. In terms of floated shares, the shorted positions stood at 4.2%. The stock has been averaging 8,184,325 shares daily in trading and would need 9 days to cover the shorts. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, Equity Analysts at the BMO Capital downgrades the rating on AbbVie (NYSE:ABBV). The brokerage firm has issued a Market Perform rating on the shares. The shares were previously rated Outperform. The rating by the firm was issued on June 10, 2016.


AbbVie (NYSE:ABBV): On Thursdays trading session , Opening price of the stock was $63.7 with an intraday high of $64.14. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $62.94. However, the stock managed to close at $63.62, a loss of 1.78% for the day. On the previous day, the stock had closed at $64.77. The total traded volume of the day was 12,090,057 shares.

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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