Build a CFD portfolio with your favourite companies. 2022 Cable News Network. To summarize, although AbbVie does not have the same clout in oncology as it does in immunology - as evidenced perhaps by the declining sales of Imbruvica - it is clearly an area of focus for management. Nevertheless, AbbVie is clearly under huge pressure to protect its dominance in the immunology markets, and the signs are it has been able to do just that thanks to the launches of 2 new drugs - Skyrizi and Rinvoq. After 2022 Humira's row is shaded yellow to signify patent expiry. The official website for the company is www.abbvie.com. Neuroscience looks highly promising too, and aesthetics capable of driving some respectable growth driven by old stager Botox. Abbvie Stock Forecast 2023 In the Biopharmaceutical Industry, Abbvie has been able to create a leadership position in the market in each business segment with different brand names in different business categories like Immunology, Hematologic Oncology, Neuroscience, Aesthetics, and Eye Care. This included an unfavourable impact of $0.08 a share related to acquired in-process research and development (IPR&D) and milestones expenses incurred during the March quarter. The pharma industry witnessed solid growth amid the pandemic. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Investors do not seem to be taking the bait, however, as AbbVie's share price has slipped by >7% across the past month, and >5% across the past 5 days. Only you can design whether Abbvie stock is the right investment for you. AbbVie Stock Forecast 2022 - 2025 - 2030 | StockForecast.com GB 67.71% of the stock of AbbVie is held by institutions. Armed with management's detailed guidance and commentary on sales performance of key assets and new product launches, however, I have completed sales projections for AbbVie to 2030, which I will share in this post, highlighting areas of strength and potential weaknesses. call (03) 8658 0539 support.au@capital.com. If you have an ad-blocker enabled you may be blocked from proceeding. Abbvie Inc quote is equal to 152.710 USD at 2023-02-27. As of 30 June, analysts price predictions compiled by MarketBeats and long-term forecasts by Wallet Investor projected that the ABBV stock price could rise. The company projects the U.S. toxin market (where Botox is the top product) will decline by mid-single digits. AT&T Inc. (T) stock forecast and price target Find the latest AT&T Inc. T analyst stock forecast, price target, and recommendation trends with in-depth analysis from research reports. The surge in revenues can primarily be attributed to its Allergan. The review period was extended by three months in order for the FDA to review additional data submitted by AbbVie. Since then, however, the stock price has fallen 18% to its current price of $142.6. If signs point to that happening I will likely be revising my target price upwards again, but I am playing it more conservative as nobody truly knows the scale of losses after the Humira LOE. Factset: FactSet Research Systems Inc.2019. For ABBVIE INC stock forecast for 2023, 10 predictions are offered for each month of 2023 with average ABBVIE INC stock forecast of $156.58, a high forecast of $160.07, and a low forecast of $152.24. These are Immunology, Oncology, Neurology, Virology and Eye Care. Below, I will outline how I see AbbVie putting the Humira LOE firmly behind it, and driving the high single digit percentage annual growth management has promised. Other approved ADC's targeting the c-Met protein, a validated target in NSCLC, include Novartis Tabrecta, which has been pegged for peak sales of ~$1.5bn, which seems a realistic target for Teliso given how large the lung cancer market is - the largest of all oncology markets. Gonzalez has vigorously defended AbbVie against accusations of price manipulation, but the company is renowned for pushing drug prices up annually and should its powerful lobbies become less powerful in the face of external pressure, once again, the sector will start to look unattractive for investors. On average, they expect the company's stock price to reach $161.12 in the next twelve months. AbbVie Inc. (NYSE:ABBV) posted its earnings results on Thursday, February, 9th. (ABBV), MarketBeat Week in Review 2/13 - 2/17 (ABBV), The 3 Best Pharma Stocks to Buy for Big Gains in 2023 (ABBV), How Abbott Labs, AbbVie Could Profit on Seizure Drug Formula (ABBV), AbbVie Has a Mixed Outlook After Mixed Earnings, Q4 2022 AdTheorent Holding Company Inc Earnings Call. All rights reserved. Abbvies first quarter 2022 financial results for the quarter ended 31 March revealed that diluted earnings per share (EPS) increased to $2.51 on a generally accepted accounting principles (GAAP) basis, up from $1.99 a year earlier. The company originated as the bio-pharma segment of Abbott Laboratories and was spun off in late 2012. PEG Ratios above 1 indicate that a company could be overvalued. Within eye care, Restasis was a major disappointment, and the entire division seems to be struggling, with total revenues falling from ~$920m in Q2'21, to ~$720m in Q2'22. Capital Com Australia Pty Ltd (ABN 47 625 601 489) is a company registered in Australia and regulated by the Australian Securities and Investments Commission (ASIC) under AFSL 513393. The following companies are subsidiares of AbbVie: AbbVie (Gibraltar) Holdings Limited, AbbVie (Gibraltar) Holdings Limited Luxembourg S.C.S., AbbVie (Gibraltar) Limited, AbbVie (Pty) Ltd., AbbVie A/S, AbbVie AB, AbbVie AG, AbbVie AS, AbbVie Australasia Holdings Limited, AbbVie B.V., AbbVie Bahamas Ltd., AbbVie Biofarmacevtska druba d.o.o., AbbVie Biopharmaceuticals GmbH, AbbVie Biopharmaceuticals LLC, AbbVie Biopharmaceuticals Ltd., AbbVie Bioresearch Center Inc., AbbVie Biotech Ventures Inc., AbbVie Biotechnology GmbH, AbbVie Biotechnology Ltd, AbbVie Biotherapeutics Inc., AbbVie Biotherapeutics Limited, AbbVie Central Finance B.V., AbbVie Corp, AbbVie Corporation, AbbVie Deutschland GmbH & Co. KG, AbbVie EOOD, AbbVie Endocrine Inc., AbbVie Endocrinology Inc., AbbVie Farmacuticos S.A. de C.V., AbbVie Farmacutica Ltda., AbbVie Finance B.V., AbbVie Finance Corporation, AbbVie Finance LLC, AbbVie GK, AbbVie GmbH, AbbVie Holdings Corporation, AbbVie Holdings Inc., AbbVie Holdings KK, AbbVie Holdings SAS, AbbVie Holdings Unlimited, AbbVie Holdings s.r.o., AbbVie International S. r.l., AbbVie Investments Limited, AbbVie Investments S. r.l., AbbVie Ireland Holdings Limited, AbbVie Ireland NL B.V., AbbVie Ireland Unlimited Company, AbbVie Japan Holdings B.V., AbbVie Kft., AbbVie Komplementr GmbH, AbbVie L.L.C., AbbVie L.da, AbbVie Limited, AbbVie Limited Liability Company, AbbVie Logistics B.V., AbbVie Ltd, AbbVie Ltd., AbbVie Manufacturing Management Limited, AbbVie Nederland Holdings B.V., AbbVie Operations Singapore Pte. psoriatic arthritis at a lower dose, again with a comparable safety profile, and has also won approval in a field where Humira has not, namely Atopic Dermatitis. The acquisition expanded AbbVies neuroscience portfolio, adding first-in-class modulators of the synaptic vesicle protein 2A, including lead molecule SDI-118 currently in Phase 1b studies. Get 30 Days of MarketBeat All Access Free, Sign in to your free account to enjoy these benefits. I am not receiving compensation for it (other than from Seeking Alpha). That led to an overall 6% year-on-year gain of 6%, and a 13% sequential gain. Find me at my marketplace channel, Haggerston BioHealth - model portfolio + 4 exclusive stock tips every week. Please log in to your account or sign up in order to add this asset to your watchlist. Receive ABBV Stock News and Ratings via Email. What guidance has AbbVie issued on next quarter's earnings? Whether these factors make ABBV a good investment for you or not will depend on your portfolio composition, investment goals and risk profile, among other factors. American Consumer News, LLC dba MarketBeat 2010-2023. We're currently running a sale at my private investing ideas service, Haggerston BioHealth, where members get access to portfolios, market alerts, real-time chat, and more. Since then, ABBV stock has decreased by 3.4% and is now trading at $156.06. See AbbVie Inc. (ABBV) stock analyst estimates, including earnings and revenue, EPS, upgrades and downgrades. Our momentum combined with ramping contributions from new products and new indications will drive accelerating revenue and EPS growth through the rest of the year., ABBV has done very well to add to its impressive gains from the past couple of years. Their ABBV share price forecasts range from $140.00 to $200.00. Since its 2013 separation from Abbott Laboratories (ABT 1.78%), AbbVie's stock has grown more than 160%. The consensus rating was moderate buy based on 16 analysts ratings, with 10 recommending buy, five hold and sell. Venclexta continues to pick up momentum with sales up 16% to >$500m in Q2'22, and I forecast the drug to exceed $3.2bn in revenues by the end of the decade. These are mostly related to the US Food and Drug Administrations (FDA) approval of Abbvies drug Rinvoq for ulcerative colitis and positive top-line results from the Phase 3 induction study U-EXCEL. The P/E ratio of AbbVie is 23.61, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 126.03. The material provided on this website is for information purposes only and should not be understood as an investment advice. And it couldnt be more wrong! In this article we take a closer look at the Abbvie stock forecast, after analysing the firms latest earnings, price moving news and analyst comments. View analysts price targets for ABBV or view top-rated stocks among Wall Street analysts. We expect proof-of-concept data from roughly a dozen additional early stage oncology opportunities over the next couple of years. AbbVie has 5 focus areas for its research and products. First we can take a quick look at what a forward income statement for AbbVie might look like to 2030. Only 0.08% of the stock of AbbVie is held by insiders. The firm earned $15.12 billion during the quarter, compared to the consensus estimate of $15.30 billion. approvals of Humira, Skyrizi, Rinvoq (AbbVie JPM Healthcare conference presentation). MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation. Excluding items, AbbVie earned $3.31 per share, beating estimates of $3.29 . However, there are some general principles that can be followed in order to improve the accuracy of stock price predictions. In my modeling table above, I estimate Humira sales will decline by 25% between 2022 and 2023, to ~$16bn, although some of that lost revenue will be gobbled up by Skyrizi/Rinvoq. Furthermore, it seems sales of Lupron and Synthroid have joined the "All Other" section, which has generated $2.2bn of revenues in the first half of 2022, versus $1.5bn in the first half of 2021. I hope to see you there. AbbVie could be the biggest global Pharma by revenue generation in 2028. The five-year dividend growth rate is just below 18%. This could present more profit potential for drugmakers as well as investors. What is AbbVie's stock price forecast for 2023? I wrote this article myself, and it expresses my own opinions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. The company reported its first revenue for Botox competitor Daxxify. AbbVie saw a increase in short interest in February. The company is a member of the Fortune 100 and one of the Fortune 100s Best Companies To Work For. This year is off to a strong start. Abbvie has a strong pipeline of projects ahead, and has recently received US FDA approval of its ulcerative colitis drug Rinvoq. I am modelling for AbbVie to grow revenues at a compound annual growth rate of ~5% between now and 2030 with growth accelerating in the latter half of the decade. Please disable your ad-blocker and refresh. AbbVie has a PEG Ratio of 3.51. AbbVie has been working hard to ensure the 2 drugs it has developed to replace Humira - Skyrizi, which inhibits the pro-inflammatory cytokine IL23, and Rinvoq, a Janus Kinase (enzymes involved in immune cell function) inhibitor - are winning approvals and growing sales in Humira's markets. Net earnings also saw a steep rise to $4.49bn from $3.55bn, while net revenue jumped to $13.54bn from 13.01bn. writing - trading down slightly from its all-time high of >$160 achieved in early December last year. As per management's guidance, I am modelling for $5.7bn of revenues in 2023, with growth beginning to accelerate substantially from 2025 / 26 onwards. To see all exchange delays and terms of use please see Barchart's disclaimer. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. Kateryna Onyshchuk/iStock via Getty Images. AbbVie Stock Forecast 03-06-2023. The company is focused on research and has a number of collaborations and partnerships to that end. Please disable your ad-blocker and refresh. Although investing in AbbVie isn't riskless, it is advisable based on what we know about the company. Read our dividend analysis for ABBV. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. We have also launched Skyrizi for PSA in rheumatology, where we're seeing strong utilization, which is driving accelerated share growth. On average, analysts rate AbbVie stock as a buy. ABBV-916 is targeting Alzheimer's and it is an anti-amyloid antibody, with a similar mechanism of action ("MoA") to recently approved Leqembi, developed by Biogen (BIIB) / Eisai, and likely soon-to-be approved Donanemab, developed by Eli Lilly. Data from two Phase 3 induction studies and one maintenance study supported the approval. Forecasts shouldnt be used as a substitute for your own research. First of all, as shown in the table above I forecast product sales out to 2030. AbbVie is one of the largest global Pharmaceuticals, with a market cap of >$265bn. Under the terms of the resolution, AbbVie will grant Alvotech a non-exclusive licence to its Humira-related patents in the US, which will begin on 1 July 2023. The average price target is $163.64 with a high forecast of $190.00 and a low forecast of $133.00. Earnings for AbbVie are expected to decrease by -0.55% in the coming year, from $11.00 to $10.94 per share. The stock projection varied from the low price target of $135 to the high of $200. Skyrizi has shown superiority to Humira in fields such as plaque psoriasis by a statistically significant amount, with a comparable safety profile, whilst Rinvoq has shown superiority in e.g. Real-time analyst ratings, insider transactions, earnings data, and more. Sales of the drug reached $19.9bn in 2018 and were $19.2bn, $19.8bn and $20.6bn in 2019, 2020, and 2021 respectively. The company issued revenue guidance of -. How to Decide, Taiwan Semiconductor Manufacturing Expanding in the West, One Way to Earn More From Dividend Stocks, How to Choose a Winning Dividend Investing Strategy, 3 Industries Leading the Stock Market Rebound, Oil Tankers Boost Dividends, See Continued Robust Business In '23. Price target. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. As of February 15th, there was short interest totaling 11,710,000 shares, an increase of 13.7% from the January 31st total of 10,300,000 shares. Trading CFDs is high risk and is not suitable for everyone. Refer to our. Enjoy your holiday weekend and catch up on our most read stories this week. Find me at my marketplace channel, Haggerston BioHealth - model portfolio + 4 exclusive stock tips every week. The dividend payout ratio is 89.56%. While some of the gains are due to investor perception that it is a strong company, some view ABBV as a defensive stock, with most of the other stocks in the sector also doing well. All rights reserved. In the past three months, AbbVie insiders have sold more of their company's stock than they have bought. AbbVie product revenues by quarter and year since FY20. Migraine therapy Ubrelvy is a future blockbuster, Gonzalez believes, as is Qulipta, in the same indication. As with debt, if approval and revenue targets aren't met, it can quickly result in a loss of faith in the company. As such I have modelled similar, although I have included an additional revenue stream from new products which I expect to be minor in nature but ultimately contributing an additional $1.5bn to the top line. As we can see, sales of Humira are still climbing, with losses in Europe - where revenues fell by 14% to $699m - offset by growth in the US, to $4.7bn, up 10% year-on-year. Thus, it is likely that ABBV will continue to find support on the dips in this type of market environment.. With Skyrizi and Rinviq - two assets developed in-house - performing so well, however, perhaps we should give management the benefit of the doubt. Sign-up to receive the latest news and ratings for AbbVie and its competitors with MarketBeat's FREE daily newsletter. We continue to anticipate a clearer path to strong sales growth in 2025 with high-single-digit compounded annual growth rate to the end of this decade. On average, analysts forecast that ABBV's EPS will be $11.80 for 2023, with the lowest EPS . 580 employees have rated AbbVie Chief Executive Officer Richard A. Gonzalez on Glassdoor.com. Outside of Humira, management does not have to worry about LOEs for any of its other portfolio products before the end of the decade, which is encouraging, however, based on my own projections of how AbbVie will generate its revenues between 2023 and 2030, if management wants to drive a CAGR in the high single digits after 2025, it will need some help from its pipeline - not an area of particular strength for AbbVie. The Immunology division looks strong, even factoring in the patent cliff faced by $20 billion-selling Humira. In my last note on AbbVie (NYSE:ABBV) for Seeking Alpha - in early July - I reviewed the Big Pharma's Q1'22 earnings and looked ahead to the release of Q2'22 figures. AbbVie does not have the funds to pursue any large M&A deals, but it does not need to either, given the strength of its pipeline and products. There are still very few approved therapies, although that could change with Crispr Therapeutics (CRSP) / Vertex (VRTX) Sickle Cell Disease therapy leading the charge in 2023. It now expects full-year profit in the range of $13.92-$14.12 a share. Based on aggregate information from My MarketBeat watchlists, some companies that other AbbVie investors own include Intact Financial (IFC), Constellation Software (CSU), AutoCanada (ACQ), Alimentation Couche-Tard (ATD.B), Vermilion Energy (VET), AT&T (T), Bristol-Myers Squibb (BMY), Wheaton Precious Metals (WPM), Rogers Communications (RCI) and Open Text (OTEX). In the next year, analysts predict that Revenue will reach C$253.83M - an increase of 3.50%. Revance Therapeutics gapped up 54.34% on January 9, and built upon those gains in February. ABBV has several positive factors pushing its price performance. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. The average Abbvie stock price prediction forecasts a potential upside of 7.07% from the current ABBV share price of $155.27. It is generally accepted however that 2023 will see the entrants into the US market of several generic versions of Humira - which works by inhibiting Tumor Necrosis Factor ("TNF"), an inflammation causing protein - from the likes of Viatris (VTRS), Organon (OGN), Pfizer (PFE), Amgen (AMGN), and several more companies involved in the development and sale of generic or biosimilar drugs. AbbVie updated its FY 2024 earnings guidance on Friday, February, 10th. Richard A. Gonzalez has an approval rating of 88% among the company's employees. z o.o., AbbVie Spain S.L., AbbVie Stemcentrx LLC, AbbVie Trading S.R.L., AbbVie Trustee Company Limited, AbbVie Tbbi lalar Sanayi ve Ticaret Limited irketi, AbbVie UAB, AbbVie UK Biopharmaceuticals Ltd, AbbVie UK Holdco Limited, AbbVie UK Ltd, AbbVie US Holdings LLC, AbbVie US LLC, AbbVie Venezuela B.V., AbbVie Venezuela Holdings B.V., AbbVie Ventures LLC, AbbVie d.o.o., AbbVie s.r.o., Aeropharm Technology LLC, Allergan, BioDisplay Technologies Inc., Fournier Laboratories Ireland Ltd., Fremont Holding L.L.C., Fundacin AbbVie, IEP Pharmaceutical Devices LLC, ImmuVen, KOS Pharmaceuticals Inc., Knoll LLC, Knoll Pharmaceutical Company, Life Properties Inc., Mavupharma, Organics L.L.C., Pharmacyclics (Europe) Limited, Pharmacyclics (Shanghai) Management Consulting Services Limited, Pharmacyclics Cayman Ltd., Pharmacyclics Inc, Pharmacyclics LLC, Pharmacyclics Switzerland GmbH, Rowell Laboratories Inc., S.C. AbbVie S.R.L., Sapphire Merger Sub Inc., Stem CentRx, Stemcentrx Cayman Ltd., Suffolk Merger Sub Inc., and Unimed Pharmaceuticals LLC.
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