AbbVie (NYSE:ABBV) Rating Increased to Strong-Buy at Canaccord Genuity Group

AbbVie (NYSE:ABBV) was upgraded by equities research analysts at Canaccord Genuity Group to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

ABBV has been the topic of a number of other reports. Berenberg Bank set a $275.00 target price on shares of AbbVie in a research report on Tuesday, January 20th. Evercore cut their price target on AbbVie from $232.00 to $228.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 4th. William Blair restated an “outperform” rating on shares of AbbVie in a research note on Monday, March 9th. Barclays began coverage on AbbVie in a research note on Thursday, February 19th. They issued an “overweight” rating and a $275.00 price target on the stock. Finally, Morgan Stanley upped their price target on AbbVie from $269.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $253.43.

AbbVie Price Performance

NYSE:ABBV opened at $204.95 on Monday. The firm’s 50-day moving average price is $218.27 and its 200-day moving average price is $222.93. The company has a market capitalization of $362.38 billion, a PE ratio of 86.84, a P/E/G ratio of 0.73 and a beta of 0.38. AbbVie has a 1-year low of $170.91 and a 1-year high of $244.81.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, February 4th. The company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.65 by $0.06. The firm had revenue of $16.62 billion for the quarter, compared to the consensus estimate of $16.39 billion. AbbVie had a net margin of 6.91% and a negative return on equity of 1,579.75%. The company’s revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.16 EPS. AbbVie has set its FY 2026 guidance at 14.370-14.570 EPS and its Q1 2026 guidance at 2.970-3.010 EPS. Equities analysts anticipate that AbbVie will post 14.26 EPS for the current fiscal year.

Insider Activity at AbbVie

In related news, EVP Perry C. Siatis sold 22,381 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $230.00, for a total value of $5,147,630.00. Following the sale, the executive vice president owned 38,137 shares in the company, valued at $8,771,510. This represents a 36.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP David Ryan Purdue sold 5,230 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $233.56, for a total value of $1,221,518.80. Following the completion of the sale, the senior vice president owned 2,654 shares in the company, valued at $619,868.24. The trade was a 66.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On AbbVie

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Chelsea Counsel Co. bought a new position in AbbVie in the 3rd quarter valued at approximately $26,000. Litman Gregory Wealth Management LLC bought a new position in AbbVie in the 4th quarter valued at approximately $28,000. Westend Capital Management LLC bought a new position in AbbVie in the 4th quarter valued at approximately $29,000. Imprint Wealth LLC lifted its position in AbbVie by 56.3% in the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock valued at $29,000 after acquiring an additional 45 shares in the last quarter. Finally, Texas Capital Bancshares Inc TX bought a new position in AbbVie in the 3rd quarter valued at approximately $31,000. 70.23% of the stock is owned by institutional investors.

About AbbVie

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.