AbbVie (NYSE:ABBV) Stock Price Down 1.3% – Should You Sell?

Shares of AbbVie Inc. (NYSE:ABBV) were down 1.3% on Tuesday . The company traded as low as $211.91 and last traded at $212.79. Approximately 4,670,212 shares changed hands during trading, a decline of 33% from the average daily volume of 6,945,308 shares. The stock had previously closed at $215.70.

AbbVie News Roundup

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: The U.S. FDA approved AbbVie’s DECNUPAZ (pivekimab sunirine-pvzy) for adults with blastic plasmacytoid dendritic cell neoplasm (BPDCN), an ultra-rare and aggressive blood cancer. This is AbbVie’s first approved antibody-drug conjugate for blood cancer and could open a new revenue stream while strengthening its oncology franchise. Reuters: US FDA approves AbbVie’s rare blood cancer drug
• Positive Sentiment: AbbVie also announced it has launched a first-in-human Phase 1 study for ABBV-1451, signaling continued investment in its early-stage pipeline and potentially expanding future growth options beyond its current blockbuster portfolio. Article reference
• Positive Sentiment: Multiple analysts/commentary pieces highlighted AbbVie’s pipeline strength, with Piper Sandler raising its price target and pointing to progress in inflammatory bowel disease and broader development programs. That reinforces the market’s view that ABBV has room for longer-term growth. Yahoo Finance: Piper Sandler raises price target on AbbVie

Analysts Set New Price Targets

A number of analysts have recently weighed in on ABBV shares. Cantor Fitzgerald reissued an “overweight” rating and set a $240.00 price target on shares of AbbVie in a research report on Thursday, April 30th. Royal Bank Of Canada started coverage on shares of AbbVie in a research report on Tuesday, February 24th. They set an “outperform” rating and a $260.00 price target for the company. Barclays started coverage on shares of AbbVie in a research report on Thursday, February 19th. They set an “overweight” rating and a $275.00 price target for the company. Piper Sandler raised their price target on shares of AbbVie from $294.00 to $298.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. Finally, UBS Group decreased their price target on shares of AbbVie from $240.00 to $230.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average target price of $253.43.

AbbVie Price Performance

The stock has a market cap of $386.32 billion, a price-to-earnings ratio of 107.71, a P/E/G ratio of 0.74 and a beta of 0.32. The business’s fifty day simple moving average is $208.25 and its 200 day simple moving average is $219.68.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The company had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. During the same quarter in the previous year, the company posted $2.46 earnings per share. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, equities analysts forecast that AbbVie Inc. will post 14.3 EPS for the current fiscal year.

Insider Buying and Selling at AbbVie

In related news, SVP David Ryan Purdue sold 5,230 shares of AbbVie stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $233.56, for a total transaction of $1,221,518.80. Following the sale, the senior vice president directly owned 2,654 shares in the company, valued at $619,868.24. The trade was a 66.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AbbVie

A number of hedge funds and other institutional investors have recently modified their holdings of ABBV. Bank of Jackson Hole Trust raised its position in AbbVie by 0.6% in the fourth quarter. Bank of Jackson Hole Trust now owns 7,213 shares of the company’s stock worth $1,648,000 after acquiring an additional 44 shares in the last quarter. Eclectic Associates Inc. ADV increased its holdings in shares of AbbVie by 0.8% in the 4th quarter. Eclectic Associates Inc. ADV now owns 5,852 shares of the company’s stock valued at $1,337,000 after purchasing an additional 45 shares during the period. Imprint Wealth LLC lifted its stake in AbbVie by 56.3% in the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock valued at $29,000 after acquiring an additional 45 shares during the last quarter. Weil Company Inc. lifted its stake in AbbVie by 2.3% in the third quarter. Weil Company Inc. now owns 2,026 shares of the company’s stock valued at $469,000 after acquiring an additional 46 shares during the last quarter. Finally, Hardin Capital Partners LLC lifted its position in shares of AbbVie by 1.4% in the fourth quarter. Hardin Capital Partners LLC now owns 3,321 shares of the company’s stock worth $759,000 after buying an additional 46 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Company Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.