AbbVie (ABBV) has risen sharply, recording gains of 5.16% in the past 4 weeks. However, the stock has corrected -0.13% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 4.75% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
AbbVie Inc. is up 13.4% in the last 3-month period. Year-to-Date the stock performance stands at 16.57%. The stock has recorded a 20-day Moving Average of 1.45% and the 50-Day Moving Average is 5.88%.
AbbVie (NYSE:ABBV): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $66.57 and $66.51 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $67.18. The buying momentum continued till the end and the stock did not give up its gains. It closed at $67.10, notching a gain of 0.49% for the day. The total traded volume was 6,709,360 . The stock had closed at $66.77 on the previous day.
Also, 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 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.