AbbVie Shares Up 29% in 2023, Projecting Continued Growth into 2026
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: Fool
- Strong Financial Performance: AbbVie reported an 8% year-over-year revenue increase to $44.5 billion in the first nine months of 2023, with adjusted earnings per share declining to $7.29 due to acquisition-related charges, yet the company expects to maintain robust financial momentum in the coming years.
- Growth Drivers: AbbVie has raised its 2027 sales forecast for Skyrizi and Rinvoq by $4 billion, which is expected to significantly boost revenue growth in the immunology sector over the next few years.
- Product Line Diversification: In addition to Skyrizi and Rinvoq, new drugs like Vraylar and Qulipta are anticipated to contribute to revenue growth, despite Humira's patent expiration leading to a 55% year-over-year sales decline.
- Robust Dividend Policy: AbbVie has a 54-year streak of increasing dividends, with a current yield of 3% that significantly exceeds the S&P 500 average of 1.2%, demonstrating the company's strong commitment to shareholder returns.
ABBV
$229.98+Infinity%1D
Analyst Views on ABBV
Wall Street analysts forecast ABBV stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ABBV is 248.67 USD with a low forecast of 204.00 USD and a high forecast of 289.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
24 Analyst Rating
15 Buy
9 Hold
0 Sell
Moderate Buy
Current: 229.890
Low
204.00
Averages
248.67
High
289.00
Current: 229.890
Low
204.00
Averages
248.67
High
289.00
About ABBV
AbbVie Inc. is a global, diversified research-based biopharmaceutical company. It is engaged in research and development, manufacturing, commercialization and sale of medicines and therapies. Its product portfolio includes Immunology, Oncology, Aesthetics, Neuroscience, Eye Care and Other Key Products. Immunology products include rheumatology, dermatology and gastroenterology. Oncology products include Imbruvica, Venclexta/Venclyxto, Elahere and Epkinly. Aesthetics portfolio consists of facial injectables, plastics and regenerative medicine, body contouring, and skincare products. Its Neuroscience products include Botox Therapeutic, Vraylar, Duopa and Duodopa, Ubrelvy, and Qulipta. Eye Care products include Ozurdex, Lumigan/Ganfort, Alphagan/Combigan, Restasis, and other eye care. Other key products include Mavyret/Maviret, Creon, and Linzess/Constella. Its investigational candidate, bretisilocin, is for the treatment of patients with moderate-to-severe major depressive disorder (MDD).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
