AbbVie Inc. (NYSE:ABBV)‘s stock had its “outperform” rating reaffirmed by equities researchers at Evercore ISI in a research report issued to clients and investors on Saturday. They currently have a $100.00 target price on the stock, up from their previous target price of $95.00. Evercore ISI’s target price would suggest a potential upside of 12.54% from the stock’s previous close.

A number of other brokerages also recently issued reports on ABBV. BidaskClub upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 6th. Credit Suisse Group restated a “neutral” rating and issued a $74.00 price objective (up previously from $65.00) on shares of AbbVie in a research note on Thursday, July 20th. Barclays PLC restated a “hold” rating and issued a $68.00 price objective on shares of AbbVie in a research note on Thursday. Jefferies Group LLC restated a “buy” rating and issued a $107.00 price objective (up previously from $94.00) on shares of AbbVie in a research note on Friday, September 15th. Finally, Leerink Swann reaffirmed a “market perform” rating on shares of AbbVie in a research report on Thursday, June 22nd. Ten equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. AbbVie currently has an average rating of “Buy” and an average target price of $86.66.

Shares of AbbVie (NYSE ABBV) traded down 0.11% during midday trading on Friday, reaching $88.86. The company’s stock had a trading volume of 6,769,367 shares. AbbVie has a one year low of $55.06 and a one year high of $89.69. The firm has a 50-day moving average of $75.76 and a 200-day moving average of $69.87. The stock has a market cap of $141.65 billion, a PE ratio of 21.85 and a beta of 1.48.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, July 28th. The company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.02. The firm had revenue of $6.94 billion during the quarter, compared to the consensus estimate of $6.93 billion. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.26 EPS. On average, analysts forecast that AbbVie will post $5.52 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “AbbVie’s (ABBV) “Outperform” Rating Reiterated at Evercore ISI” was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this news story on another domain, it was copied illegally and republished in violation of U.S. & international copyright & trademark law. The original version of this news story can be read at https://www.thecerbatgem.com/2017/09/30/abbvies-abbv-outperform-rating-reiterated-at-evercore-isi.html.

In related news, VP Robert A. Michael sold 6,699 shares of the stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $88.00, for a total transaction of $589,512.00. Following the sale, the vice president now owns 10,007 shares of the company’s stock, valued at approximately $880,616. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward J. Rapp acquired 4,000 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were bought at an average cost of $70.45 per share, for a total transaction of $281,800.00. Following the acquisition, the director now directly owns 15,498 shares in the company, valued at approximately $1,091,834.10. The disclosure for this purchase can be found here. Insiders have sold a total of 379,890 shares of company stock worth $27,187,817 in the last three months. 0.23% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Acropolis Investment Management LLC bought a new position in AbbVie in the 2nd quarter worth about $106,000. Ffcm LLC increased its stake in AbbVie by 167.2% in the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after acquiring an additional 963 shares during the last quarter. Hudock Capital Group LLC increased its stake in AbbVie by 109.5% in the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock worth $111,000 after acquiring an additional 806 shares during the last quarter. BDO Wealth Advisors LLC bought a new position in AbbVie in the 2nd quarter worth about $115,000. Finally, Franklin Parlapiano Turner & Welch LLC bought a new position in AbbVie in the 1st quarter worth about $108,000. 68.25% of the stock is currently owned by institutional investors and hedge funds.

About AbbVie

AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.

Analyst Recommendations for AbbVie (NYSE:ABBV)

Receive News & Stock Ratings for AbbVie Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie Inc. and related stocks with our FREE daily email newsletter.