AbbVie (NYSE:ABBV) PT Raised to $120.00 at JPMorgan Chase & Co.
AbbVie (NYSE:ABBV) had its price target lifted by equities researchers at JPMorgan Chase & Co. from $115.00 to $120.00 in a report issued on Friday, The Fly reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 39.10% from the company’s previous close.
ABBV has been the topic of several other reports. Berenberg Bank began coverage on shares of AbbVie in a research report on Tuesday, September 29th. They issued a “hold” rating and a $98.00 price objective on the stock. Mizuho reaffirmed a “buy” rating and issued a $111.00 price objective on shares of AbbVie in a research report on Sunday, September 27th. Citigroup boosted their price objective on shares of AbbVie from $98.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Atlantic Securities raised shares of AbbVie from a “neutral” rating to an “overweight” rating and set a $115.00 price target on the stock in a research report on Tuesday, June 23rd. Finally, Royal Bank of Canada boosted their price target on shares of AbbVie from $125.00 to $127.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $108.63.
Shares of NYSE ABBV opened at $86.27 on Friday. The company’s fifty day moving average is $89.38 and its 200-day moving average is $90.44. The stock has a market cap of $152.25 billion, a price-to-earnings ratio of 18.36, a P/E/G ratio of 1.42 and a beta of 0.74. AbbVie has a twelve month low of $62.55 and a twelve month high of $101.28. The company has a quick ratio of 0.70, a current ratio of 0.86 and a debt-to-equity ratio of 5.57.
Several institutional investors have recently added to or reduced their stakes in ABBV. Capstone Financial Group Inc. acquired a new position in shares of AbbVie during the 2nd quarter worth about $25,000. Lake Point Wealth Management grew its stake in AbbVie by 179.4% in the 1st quarter. Lake Point Wealth Management now owns 475 shares of the company’s stock valued at $36,000 after buying an additional 305 shares during the last quarter. RMR Wealth Builders acquired a new position in AbbVie in the 2nd quarter valued at about $44,000. Weaver Consulting Group grew its stake in AbbVie by 64.3% in the 2nd quarter. Weaver Consulting Group now owns 562 shares of the company’s stock valued at $55,000 after buying an additional 220 shares during the last quarter. Finally, Larson Financial Group LLC grew its stake in AbbVie by 56.4% in the 2nd quarter. Larson Financial Group LLC now owns 638 shares of the company’s stock valued at $63,000 after buying an additional 230 shares during the last quarter. Institutional investors own 68.23% of the company’s stock.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the United States, Japan, Germany, Canada, France, Spain, Italy, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal BehÃ§et's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenstrÃ¶m's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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