AbbVie Inc (ABBV) was Initiated by Leerink Partners to “Mkt Perform” and the brokerage firm has set the Price Target at $70. Leerink Partners advised their investors in a research report released on Oct 18, 2016.
Many Wall Street Analysts have commented on AbbVie Inc. AbbVie Inc was Downgraded by JP Morgan to ” Neutral” on Sep 8, 2016. Raymond James Initiated AbbVie Inc on Sep 2, 2016 to “Outperform”, Price Target of the shares are set at $82.
On the company’s financial health, AbbVie Inc reported $1.26 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jul 29, 2016. Analyst had a consensus of $1.20. The company had revenue of $6452.00 million for the quarter, compared to analysts expectations of $6207.43 million. The company’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 EPS.
AbbVie Inc closed down -0.98 points or -1.60% at $60.17 with 56,06,474 shares getting traded on Friday. Post opening the session at $61.45, the shares hit an intraday low of $60.15 and an intraday high of $61.515 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Sep 9, 2016, Laura J Schumacher (Executive Vice President) sold 50,000 shares at $65.00 per share price. According to the SEC, on Jun 3, 2016, Richard A Gonzalez (Chairman of the Board and CEO) sold 285,953 shares at $63.87 per share price. On May 12, 2016, Timothy J. Richmond (SVP, Human Resources) sold 21,583 shares at $63.52 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.