-- AbbVie (ABBV) is expected to report first-quarter earnings within its guidance range, but that may not be enough to improve sentiment toward the drugmaker, RBC Capital Markets said in a Friday client note.
The brokerage expects AbbVie to report per-share earnings of $2.59 for the first quarter, while the current consensus on FactSet is for non-GAAP EPS of $2.83.
Earlier in April, AbbVie revised its first-quarter adjusted EPS outlook to a range of $2.56 to $2.60. The company said it expected a pre-tax charge of $744 million related to acquired in-process research and development and other expenses to negatively impact its bottom line by $0.41 a share.
"We think the bar is high for (AbbVie), and 'in-line' results may not be enough to turn the tide on the negative sentiment," RBC analyst Trung Huynh wrote in the note. "Unless the company delivers a clear beat, we see the current malaise persisting into (the second quarter of 2026)."
AbbVie is scheduled to release its latest quarterly results on April 29.
Sales of the company's immunology drugs, Skyrizi and Rinvoq, in the first quarter are tracking with consensus and guidance, according to RBC. The brokerage anticipates a "small" year-over-year decline in AbbVie's oncology segment, impacted by Inflation Reduction Act pricing erosion and decreasing volume for cancer drug Imbruvica.
RBC forecasts the company to report revenue of $14.82 billion, while the Street is looking for $14.73 billion.
The brokerage has an outperform rating on AbbVie's stock with a price target of $260.