The AbbVie (ABBV) shares experienced a -0.21% move, amidst expectations about its upcoming earnings report. Investment firm Simplicity Wealth LLC decreased holdings on the stock, but it saw raised Price Targets (PT) from Truist Securities and TD Cowen. Goldman Sachs marked it as a popular stock among mutual funds. The company is advancing its oncology pipeline with a Phase 3 clinical trial for a multiple myeloma treatment, ABBV-383. AbbVie also announced collaborations with Gilgamesh Pharmaceuticals and FutureGen to develop treatments for psychiatric disorders and inflammatory bowel disease, respectively. Despite challenges and past PT reductions, AbbVie remains an interesting stock. The company anticipates mid-single-digit sales growth over the next three years. Recent acquisitions, such as Landos Biopharma, aim to strengthen its portfolio in inflammatory and autoimmune diseases. Increased quarterly dividends have been declared despite cuts in its 2024 earnings guidance to accommodate acquisition costs. However, it continues to face regulatory rejections for its Parkinson's disease therapy. Over overall trend towards bullish investment recommendation has prevailed, despite risks and recent declines, indicating the strength of the company's non-Humira portfolio.
Abbvie ABBV News Analytics from Mon, 25 Mar 2024 07:00:00 GMT to Sat, 12 Oct 2024 11:31:14 GMT - Rating +5 - Innovation +4 - Information +7 - Rumor -6
