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52 stories mentioning ABBVUpdated 3d ago

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Wire

AbbVie to Make $18 Million Milestone Payment to EvolveImmune Therapeutics After Nomination of Development Candidate

AbbVie (ABBV) partner EvolveImmune Therapeutics has nominated a development candidate for a next-generation cancer biotherapeutic, triggering a preclinical milestone payment of $18 million from AbbVie, the immuno-oncology company said Tuesday.The two companies entered into a collaboration and option-to-license agreement to develop multi-specific biologics for multiple targets in oncology in October 2024, according to a statement.Price: $198.10, Change: $+0.72, Percent Change: +0.37%

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Wire

AbbVie Submits Application for Upadacitinib as Alopecia Areata Treatment to FDA

AbbVie (ABBV) submitted to the US Food and Drug Administration an application for upadacitinib's new indication as treatment for adult and adolescent patients with severe alopecia areata, the company said Tuesday.The company said it used data from a phase 3 trial of upadacitinib, also known as Rinvoq, to support the application. The trial met its primary endpoint of a severity of alopecia tool score of less than or equal to 20 at week 24, AbbVie said.Upadacitinib's safety profile in the trial was also consistent with previously announced study results, the company added.Price: $197.37, Change: $-0.03, Percent Change: -0.02%

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Wire

Piper Sandler Adjusts Price Target on AbbVie to $294 From $299, Maintains Overweight Rating

AbbVie (ABBV) has an average rating of overweight and mean price target of $252.38, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $201.71, Change: $+1.21, Percent Change: +0.60%

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Wire

AbbVie to Build $1.4 Billion Manufacturing Campus in North Carolina

AbbVie (ABBV) said Wednesday it will invest $1.4 billion to construct a 185-acre AI-powered pharma manufacturing campus in Durham, North Carolina, as part of a $100 billion research and capital investment plan in the US.Construction will begin this year, with completion expected by the end of 2028, the company said, adding that the project will generate over 2,000 construction jobs.The site was selected for its local workforce and ability to support future expansion, the company said.Price: $202.92, Change: $-2.20, Percent Change: -1.07%

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Wire

Street Color: AbbVie to Invest $1.4 Billion for New Pharmaceutical Manufacturing Campus in North Carolina

Street Color: AbbVie to Invest $1.4 Billion for New Pharmaceutical Manufacturing Campus in North Carolina

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Research

Canaccord Genuity Initiates AbbVie at Buy With $262 Price Target

AbbVie (ABBV) has an average rating of overweight and mean price target of $255.37, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

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Wire

Johnson & Johnson Reported Above-Peer Topline Growth in Q1, BofA Says

Johnson & Johnson (JNJ) reported above-peer top-line growth in Q1 and a limited loss-of-exclusivity exposure, but that is already reflected in the company's premium multiple, BofA Securities said in a client note Wednesday.In its Q1 results, Johnson & Johnson did not provide any material research and development pipeline updates, with the investor call focusing on the Icotyde plaque psoriasis drug launch and reasons for perceived "softness" in MedTech, the BofA analysts said."Overall, 1Q offered nothing thesis changing," the analysts said.BofA said that the company's Tremfya drug has solidified its "number two" position in the drug target category, aided by subcutaneous Crohn's induction, with that benefit expected to neutralize when competitor AbbVie (ABBV) launches subcutaneous Skyrizi in 2027.The analysts updated their Tremfya peak sales estimate to $13 billion from $11 billion.BofA retained a neutral rating on the stock and increased its price target to $254 from $253.Price: $238.42, Change: $-1.68, Percent Change: -0.70%

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Wire

Evercore ISI Adjusts AbbVie Price Target to $232 From $233, Maintains Outperform Rating

AbbVie (ABBV) has an average rating of overweight and mean price target of $255.12, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $204.75, Change: $-3.19, Percent Change: -1.53%

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Research

Research Alert: CFRA Keeps Buy Rating On Shares Of Abbvie Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our target price to $255 from $275, 15.8x our 2026 EPS view. This is above ABBV's 10-year historical forward P/E average of 12.0x, justified by the company's improving long-term growth prospects. We lower our 2026 EPS forecast to $14.02 from $14.29 as we adjust our Q1 EPS estimate to $2.63 from $3.05. The company disclosed a new IPR&D and milestone expense of $744M last week related to collaborations, licensing agreements, and asset acquisitions, which will dilute Q1 EPS. We keep our 2026 EPS estimate at $16.13. The company is expected to report Q1 results before market open on April 29, when we expect to get more color on Q1 performance and expectations for the remainder of 2026.

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Sectors

Sector Update: Health Care Stocks Fall Late Afternoon

Health care stocks declined late Friday afternoon, with the NYSE Health Care Index falling 1.1% and the State Street Health Care Select Sector SPDR ETF (XLV) dropping 1.4%.The iShares Biotechnology ETF (IBB) shed 1.7%.In corporate news, AbbVie (ABBV) is expected to report Q1 earnings within its guidance range, but that may not be enough to improve sentiment toward the drugmaker, RBC Capital Markets said in a 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. AbbVie shares were down 2.1%.Replimune (REPL) shares tumbled 19%. The company's biologics license application for vusolimogene oderparepvec to treat unresectable advanced cutaneous melanoma was rejected by the US Food and Drug Administration, the regulator said in a complete response letter.Abbott Laboratories (ABT) has been ordered by a jury in Chicago to pay $53 million in compensatory damages to a group of families related to four cases over its infant formula, the Chicago Tribune reported. The families accused the company of allegedly failing to inform them that its infant formula could develop a dangerous intestinal disease in premature infants, the report said. Abbott shares fell 2.7%.Organon (OGN) is closing in on a deal to be acquired by Sun Pharmaceutical Industries for $12 billion, The Economic Times reported. Organon shares surged 27%.

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Sectors

Sector Update: Health Care

Health care stocks declined late Friday afternoon, with the NYSE Health Care Index falling 1.1% and the State Street Health Care Select Sector SPDR ETF (XLV) dropping 1.4%.The iShares Biotechnology ETF (IBB) shed 1.7%.In corporate news, AbbVie (ABBV) is expected to report Q1 earnings within its guidance range, but that may not be enough to improve sentiment toward the drugmaker, RBC Capital Markets said in a 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. AbbVie shares were down 2%.

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US Markets

AbbVie First-Quarter Earnings Unlikely to Lift Sentiment, RBC Says

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.

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