In February, a Phase 3 induction study saw positive top-line results. We expect that to happen in 2027 with continued significant growth anticipated in the following years. AbbVie stock was up after posting a mixed fourth-quarter earnings report, but with the company's patent expiring on Humira, the stock is a hold, February 24, 2023|americanbankingnews.com, February 23, 2023|americanbankingnews.com. Skyrizi and Rinvoq will together achieve a higher peak sales figure than even Humira could manage, even while Humira is still making a substantial top line contribution, still accounting for as much of 7% of AbbVie's total sales in 2030. 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. Build a CFD portfolio with your favourite companies. You should do your own research and never invest money you cannot afford to lose. 1 dividend stock for a LIFETIME of income. The other major plus is probably the performance of the neuroscience divisions, where as we can see, Botox (indicated for migraine treatment), atypical antipsychotic Vraylar, migraine therapy Ubrelvy and newly launched Qulipta, an oral CGRP inhibitor indicated for chronic migraine all delivered good sales growth. In this post I model AbbVie product sales to 2030 - including pipeline assets - and use discounted cash flow analysis to calculate a present day share price target. Note that analysts ABBV stock forecasts can be wrong. By creating a free account, you agree to our, In Britain, warm hubs emerge to beat soaring energy costs, In Chicago, adapting electric buses to winters challenges, Global race to boost electric vehicle range in cold weather, Ukraine ally Kallas fights for reelection in Estonia vote, Paid express lanes grow more popular in once-reluctant South, Pot vote has Oklahoma hungry to rake in green from Texas, Home Depot Stock Earnings Slide, Long Term Value Still There, AbbVie Stock Still a Solid Buy Despite Challenges, Chief Financial Officer & Executive Vice President, BREAKING: Tiny biotech successfully treats blindness, Fed's Shocking New Plan to Control Your Money. My EPS figure increases slightly between 2022 and 2023, whilst AbbVie has suggested it will be down slightly before beginning to accelerate towards the end of the decade, as revenues correspondingly begin to climb sharply once the worst of the Humira LOE is over. The company may not generate as much excitement as some of the other members of the "Big 8" - most notably Eli Lilly and its weight loss franchise, but the path to revenue growth, expanding margins and a growing share price is clear. And it couldnt be more wrong! Your current $100 investment may be up to $188.28 in 2028. Although management reminded analysts that "Imbruvica continues to be the total market share leader across all lines of therapy in CLL", the outlook does not look especially promising. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.79%. 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 company can be reached via phone at (847) 932-7900 or via fax at 302-655-5049. ABBV closed at $152.49 on 29 June, which was above its 200-day moving average (MA) of 136.42, indicating a bullish signal for the stocks price movement ahead, according to data from TradingView. Shares of ABBV stock can be purchased through any online brokerage account. AbbVie updated its FY 2024 earnings guidance on Friday, February, 10th. I look forward to seeing if Epcoritamab is approved this year, and although there is not a lot else in the near-term pipeline at this time, I also look forward to seeing how other projects may progress, e.g., opportunities in Parkinson's Disease, Alzheimer's and Cystic Fibrosis. Real-time analyst ratings, insider transactions, earnings data, and more. To be sure, AbbVie is modeling for a tough year in 2023 for the aesthetics market. ABBV Stock 12 Months Forecast. (ABBV), MarketBeat Week in Review 2/13 - 2/17 (ABBV), The 3 Best Pharma Stocks to Buy for Big Gains in 2023 (ABBV), How Abbott Labs, AbbVie Could Profit on Seizure Drug Formula (ABBV), AbbVie Has a Mixed Outlook After Mixed Earnings, Q4 2022 AdTheorent Holding Company Inc Earnings Call. That reflects uncertainty about what the future holds for AbbVie. Based on earnings estimates, ABBV will have a dividend payout ratio of 54.11% next year. What is AbbVie's stock price forecast for 2023? losed Joint Stock Company FinTech Solutions, Fidelity NASDAQ Composite Index Tracking Stock Fund, Abbvie stock price analysis: Past year performance, Abbvie fundamental analysis: Q1 2022 earnings, Abbvie stock forecast: Company guidance and analysts predictions. As of 2023 February 22, Wednesday current price of ABBV stock is 151.340$ and our data indicates that the asset price has been in an uptrend for the past 1 year (or since its inception).. Abbvie stock price as been showing a rising tendency so we believe that similar market segments were very popular in the given time frame. Other products such as Mavyret and Creon appear to have many more years of blockbuster sales ahead of them, although it is interesting to note that AbbVie no longer reports revenues from its Women's Health division, and scarcely mentions it. AbbVie Oncology Division Forward Revenue Projections (my table and assumtpions). AbbVie says it will pay down debt of $4bn in 2023, which will "bring cumulative debt pay down ~$34bn", but the company is heavily reliant on maintaining an investment grade rating. The median estimate represents a +5.72% increase from the last price of 156.07. The fact that my own forecasts are less ambitious than management's reflects the fact I have not introduced new products into my forecasts, and it will be interesting to see how management performs on that front as AbbVie has not really had to have a string pipeline while Humira has delivered such dominance in the auto-immune markets. We expect proof-of-concept data from roughly a dozen additional early stage oncology opportunities over the next couple of years. ABBV-916 is therefore a real opportunity for AbbVie to develop a more effective and safer drug in the same class and claim a sizeable share of a 6m patient market. AbbVie trades on the New York Stock Exchange (NYSE) under the ticker symbol "ABBV.". That figure suggests a forward Price to Earnings ("P/E") ratio of ~10x, which is well below the US Big Pharma sector average of ~23x, although it should be noted that the GAAP/non-adjusted EPS may be only significantly lower than the adjusted figure, based on adjusted EPS of $6.52 across H1'22, and GAAP EPS of $3.03 over the same period. I suspect Eye Care is a division AbbVie can turn around given time, and I feel that with regards to oncology, where AbbVie has the strongest pipeline assets - lymphoma bispecific Epcoritamab may be approved to treat large B-cell lymphoma, and peak sales estimates range from $1.5 - $3bn, although AbbVie will not earn all of that since the product is co-developed with Genmab. Bringing RGX314 would be a coup for AbbVie although I am forecasting for only $2bn in peak revenues in 2030 as a hedge against the risk that this candidate does not make it to market on safety grounds. AbbVie Fair Value Forecast for 2023 - 2025 - 2030 In the last two years, AbbVie's Price has grown, increasing from $91.55 to $130.05 - an increase of 42.06%. The S&P 500 (US500) lost 9.1%, the Dow Jones (US30) slid 9.7%, and the Nasdaq Composite fell 23% during the same period. I am not receiving compensation for it (other than from Seeking Alpha). (my tables). 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. 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. In the past I have written about the high level of competition between major Pharma in the auto-immune space - for example, for Psoriatic Arthritis the list of approved drugs includes Humira, UCB Pharma's Cimzia, Amgen's Enbrel, Johnson & Johnson's (JNJ) Stelara, Eli Lilly's (LLY) Talzt, Novartis' (NVS) Cosentyx and Bristol-Myers Squibb's (BMY) Orencia. (ABBV) AbbVie Stock Predictions from the Leading Provider of Short and Long Term Stock Price Forecasts. PMeds are designed not only to target the specific causes of diseases, often at the genetic level, but the patients that are most likely to benefit from them. The company's lead asset - all-time best selling immunology drug Humira - finally loses patent protection this year and sales will enter a period of terminal decline. This figure could eventually end up substantially larger - according to Gonzalez: We've begun to see some very exciting data from several solid tumor programs, including our anti-GARP antibody ABBV-151, and our PTK7 ADC, ABBV-647. Pessimistic target level: 151.42 Optimistic target level: 154.48 ABBV (ABBV) Monthly Stock Prediction for 2023 Full forecast for 2023 AbbVie forecast for this year AbbVie has a P/B Ratio of 15.97. High institutional ownership can be a signal of strong market trust in this company. According to analysts' consensus price target of $161.12, AbbVie has a forecasted upside of 3.2% from its current price of $156.06. The company reported its first revenue for Botox competitor Daxxify. The company's average rating score is 2.44, and is based on 7 buy ratings, 9 hold ratings, and no sell ratings. It is important to do your own research, and remember that your decision to trade depends on your attitude to risk, your expertise in the market, the spread of your investment portfolio and how comfortable you feel about losing money. During the same quarter in the prior year, the firm posted $3.31 EPS. 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. Top institutional shareholders include Geode Capital Management LLC (1.91%), Morgan Stanley (1.79%), Moneta Group Investment Advisors LLC (1.65%), Price T Rowe Associates Inc. MD (1.15%), Norges Bank (1.06%) and Legal & General Group Plc (0.66%). These are Immunology, Oncology, Neurology, Virology and Eye Care. One of the few pain points AbbVie experienced during a year of portfolio wide growth in 2022 was the decline in the revenue contribution from Imbruvica, approved to treat various types of lymphoma. 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. Discovery Company. Out of the most recent ratings, BMO Capital Markets Gary Nachman raised its price target from $161 to $174 with an outperform rating, while Truist Financial analyst Robyn Karnauskas raised the Abbvie stock prediction from $118 to $135 while raising rating to a buy. Not only do these companies pay handsome dividends, they typically grow revenues every year and generate wide profit margins which leads to share price upside. That is a significant difference because at a forward P/E of 10x AbbVie stock looks like a solid buy opportunity, but at a P/E of 20x, when we consider the risk/challenge of Humira's LOE, prospective investors may prefer to maintain a watching brief as opposed to opening a position. 326 E 8th St #105, Sioux Falls, SD 57103 I write about Biotech, Pharma and Healthcare stocks and share investment tips.
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