AbbVie (NYSE:ABBV) Shares Up 3.5% – Here’s What Happened

AbbVie Inc. (NYSE:ABBV)’s share price shot up 3.5% during trading on Thursday . The stock traded as high as $224.99 and last traded at $224.8090. 6,726,784 shares changed hands during trading, a decline of 2% from the average session volume of 6,868,025 shares. The stock had previously closed at $217.13.

Key Headlines Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie’s ovarian cancer drug Elahere received a green light from the UK’s NHS, expanding access in a hard-to-treat cancer indication and reinforcing the drug’s commercial potential. British drug-cost watchdog recommends use of AbbVie’s ovarian cancer therapy
• Positive Sentiment: AbbVie also won European Commission approval for Aquipta in migraine, adding another approved use and supporting sales growth in its neuroscience franchise. AbbVie receives EC approval for Aquipta to treat migraine
• Positive Sentiment: The FDA approval of Decnupaz for BPDCN is being viewed as validation of AbbVie’s oncology ADC strategy, boosting confidence in the company’s longer-term cancer pipeline. Does Decnupaz Approval Validate ABBV’s ADC Strategy in Oncology?
• Neutral Sentiment: Recent company-announcement updates on ABBV-647, ABBV-932, and upadacitinib show AbbVie continues to advance multiple clinical programs, but these read through as pipeline maintenance rather than immediate catalysts. AbbVie Ends Early Lung Cancer Trial for ABBV-647, Trimming One Oncology Upside Lever
• Neutral Sentiment: AbbVie is also being highlighted in stock-picking and valuation articles as a large-cap “cheap” or undervalued healthcare name, which may be supporting investor interest but does not change fundamentals by itself. 5 Best Cheap Stocks to Buy for Beginners
• Negative Sentiment: AbbVie’s decision to end the early lung cancer trial for ABBV-647 may trim one future oncology upside lever, though the broader pipeline momentum appears to offset that concern for now. AbbVie Ends Early Lung Cancer Trial for ABBV-647, Trimming One Oncology Upside Lever

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ABBV shares. Guggenheim restated a “buy” rating and set a $249.00 price target on shares of AbbVie in a research report on Friday, May 1st. Sanford C. Bernstein restated a “market perform” rating on shares of AbbVie in a research report on Thursday, February 5th. Piper Sandler raised their price target on AbbVie from $294.00 to $298.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. BMO Capital Markets restated an “outperform” rating on shares of AbbVie in a research report on Monday, March 9th. Finally, Morgan Stanley raised their price target on AbbVie from $270.00 to $278.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Three research 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $253.43.

AbbVie Stock Performance

The stock has a market capitalization of $397.19 billion, a P/E ratio of 110.74, a price-to-earnings-growth ratio of 0.66 and a beta of 0.32. The stock has a 50-day moving average price of $209.03 and a two-hundred day moving average price of $219.35.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.06. The firm had revenue of $15 billion for the quarter, compared to analyst estimates of $14.72 billion. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The business’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period last year, the company earned $2.46 EPS. Equities analysts anticipate that AbbVie Inc. will post 14.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ABBV. Brighton Jones LLC lifted its stake in shares of AbbVie by 17.4% in the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after purchasing an additional 3,401 shares during the period. Revolve Wealth Partners LLC raised its stake in AbbVie by 72.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock valued at $1,294,000 after buying an additional 3,064 shares during the last quarter. Schnieders Capital Management LLC. raised its stake in AbbVie by 5.0% during the second quarter. Schnieders Capital Management LLC. now owns 16,466 shares of the company’s stock valued at $3,056,000 after buying an additional 789 shares during the last quarter. Ieq Capital LLC raised its stake in AbbVie by 4.6% during the second quarter. Ieq Capital LLC now owns 120,035 shares of the company’s stock valued at $22,281,000 after buying an additional 5,274 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC raised its stake in AbbVie by 117.3% during the second quarter. Worldquant Millennium Advisors LLC now owns 1,135,034 shares of the company’s stock valued at $210,685,000 after buying an additional 612,702 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

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.