Real-time analyst ratings, insider transactions, earnings data, and more. There has been a raft of price-moving news for Abbvie, which may positively affect the stock price. Build a CFD portfolio with your favourite companies. What intrigues here is the possibility of RGX-314, an anti-VEGF gene therapy that Gonzalez believes "has the potential to be a one-time treatment for wet AMD, diabetic retinopathy and other chronic retinal conditions". The Immunology division looks strong, even factoring in the patent cliff faced by $20 billion-selling Humira. ABBV Stock 12 Months Forecast. Rinvoq's progress has been a little more circumspect, but almost as impressive. Refer to our. See AbbVie Inc. stock price prediction for 1 year made by analysts and compare it to price changes over time to develop a better trading strategy. What is the dividend yield for AbbVie? AbbVie has received a consensus rating of Hold. 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. Management believes these 2 drugs could one day generate $15bn in peak sales, going a long way to solving the Humira loss of exclusivity ("LOE") problem. Skyrizi is a collaboration between Boehringer Ingelheim and AbbVie, with AbbVie leading development and commercialisation globally. View analysts price targets for ABBV or view top-rated stocks among Wall Street analysts. If you have an ad-blocker enabled you may be blocked from proceeding. The pharma industry witnessed solid growth amid the pandemic. AbbVie CEO Gonzalez told the audience at the JPM Healthcare conference that: We now have a little over 90% access for next year for Humira at parity. In other words, management believes the LOE of Humira - despite it being the world's best-selling drug - will not hinder growth at the company. Teliso V is an antibody drug conjugate and a c-Met inhibitor. ET comments AbbVie stock forecast 2022 - 2025 - 2030 with analysis AbbVie stock stood at $162.110000610352 on 2022-03-31. forecast for 2023 is $159.42, forecast for 2024 is $156.65, forecast for 2025 is $139.68, forecast for 2026 is $124.48, See what's happening in the market right now with MarketBeat's real-time news feed. Migraine therapy Ubrelvy is a future blockbuster, Gonzalez believes, as is Qulipta, in the same indication. It is a Top 50 Company regarding diversification and a member of the Dow Jones Sustainability World Index and the S&P ESG Index. The average analyst rating for AbbVie stock from 34 stock analysts is "Buy". AbbVie's mailing address is 1 NORTH WAUKEGAN ROAD, NORTH CHICAGO IL, 60064. 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. The next two approvals - for Navitoclax in Myelofibrosis and Teliso V in non squamous non-small cell lung cancer ("NSCLC") - are anticipated by management in 2024. Perhaps this is an example of how ruthless management can be when encountering falling sales, and a warning that not all company divisions are guaranteed to thrive. Discovery Company. After 2022 Humira's row is shaded yellow to signify patent expiry. About the AbbVie, Inc. stock forecast. . (AbbVie data). The company had recorded a $4.7 billion increase in the contingent consideration liability related to Skyrizi last year. We have also launched Skyrizi for PSA in rheumatology, where we're seeing strong utilization, which is driving accelerated share growth. In general, it is important to pay attention to trends, both in the overall market and in the specific sector that a company is in. The company has been increasing its dividend for 51 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. 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. The consensus among Wall Street research analysts is that investors should "hold" ABBV shares. These are Immunology, Oncology, Neurology, Virology and Eye Care. American biopharmaceutical company Abbvie (ABBV) has surged nearly 13% year to date (YTD), and 35% year-over-year (YOY), as of 30 June. On average, they predict the company's stock price to reach $161.12 in the next year. I have been maintaining a revenue forecasting table for AbbVie's products which I have amended based on Q2'22 and H1'22 results, and the slightly downgraded guidance issued for 2022 - management now expects adjusted earnings per share ("EPS") of $13.78 - $13.98, representing growth of 17% at the midpoint. For the next eight years, the forecast is for Free Cash Flow to grow by . 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. On 14 January 2022, the FDA approved Abbvies arthritis treatment drug, Rinvoq (upadacitinib), for the treatment of adults with moderately to severely active ulcerative colitis. (my tables). It . As such, I have decreased my own expectations for 2022 based on simply doubling H1'22 revenues to get a FY22 figure, and downgrading growth expectations to 3% per annum until 2026. 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. I write about Biotech, Pharma and Healthcare stocks and share investment tips. AbbVie (NYSE:ABBV) has a market capitalization of $276.13 billion and generates $58.05 billion in revenue each year. Aesthetics was propped up by growing sales of Botox - up 12% year-on-year to $678m, but let down by sales of Juvederm, which management put down to lockdown regulations in China, and the "suspension" of operations in Russia. 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. The company can be reached via phone at (847) 932-7900 or via fax at 302-655-5049. Assuming there are 2 highly effective drugs for 1 disease, PMedicine seeks to identify which patients respond better to each. What other stocks do shareholders of AbbVie own? Please disable your ad-blocker and refresh. The surge in revenues can primarily be attributed to its Allergan. 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. The company officially IPOd on January 2, 2013; contrary to criticisms, the move was solely to protect the parent company from expiring patents. I have no business relationship with any company whose stock is mentioned in this article. 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. AbbVie has 5 focus areas for its research and products. Finally, AbbVie was able to raise its financial . 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. Our Product Disclosure Statement (PDS) and Target Market Determination provides important information about our products and who our products are more likely to be suited to Capital.com does not provide financial or investment advice and you should seek independent advice if you are unsure of the risks or whether our products are suitable for you. Most stock quote data provided by BATS. AbbVie income statement forecast (My table and assumptions). There are currently 9 hold ratings and 7 buy ratings for the stock. 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. As such, forecasting stock prices is more of an art than a science. (my tables and forecasting). 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%). Epcoritamab alone will not be sufficient to get AbbVie where it wants to be - despite some analysts believing it will be the highest grossing Pharma revenue wise by 2026. 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. I wrote this article myself, and it expresses my own opinions. Trial results demonstrated an overall response rate of 63% and a median duration of response of 12 months, where 39% of patients had already tried a CAR-T cell therapy. 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. That makes companies like AbbVie generally very attractive to investors although it should be noted that AbbVie carries a very high level of debt which stood at >$60bn as of Q322 - more or less the amount the company paid to acquire Allergan. Post-spin, AbbVie emerged as a research-based biopharma that has more than doubled in size. In the past three months, AbbVie insiders have sold more of their company's stock than they have bought. 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. The Large Pharma sector performed remarkably well in 2022, with the "Big 8" delivering an average ~15% gain whilst the S&P 500 index fell in value, and the biotech sector was in turmoil. Sales are expected to recover in H2'22, however, and forecast year-on-year growth. Both of these assets appear to be doing the job they were intended for - protecting AbbVie's dominance in various auto-immune markets - and now represent ~13% of AbbVie's total revenue generation. At their peak, according to a slide from AbbVie's presentation at the JPMorgan (JPM), these 2 drugs are expected to generate more revenues than Humira at its peak. Naturally, if there is a more effective and safe drug than Humira available for the same indication, then physicians are likely to prescribe it over Humira, or a Humira biosimilar. The difference between trading assets and CFDs. 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. Read our dividend analysis for ABBV. Within the oncology division sales of Imbruvica fell 17% year-on-year. 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 $1.99 a year earlier. AbbVie has fought off patent challenges against Humira for years longer than expected, and despite losing exclusivity in Europe in 2020, a series of price hikes and market dominance in the US in indications such as Rheumatoid Arthritis ("RA"), Psoriatic Arthritis ("PsA"), Crohn's Disease ("CD"), and Ulcerative Colitis ("UC") - have enabled the drug's sales revenues to keep growing. As of 2023 February 22, Wednesday current price of ABBV stock is 151.340$ 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. With AbbVie seemingly very confident of approvals for all 3 of these drugs, and Gonzalez suggesting they could form the basis of a "$6 billion kind of franchise" I have modelled for such an outcome by 2030. The P/E ratio of AbbVie is 23.61, which means that it is trading at a less expensive P/E ratio than the Medical sector average P/E ratio of about 100.12. How often does AbbVie pay dividends? AbbVie is a leading dividend payer. Since its 2013 separation from Abbott Laboratories (ABT 1.78%), AbbVie's stock has grown more than 160%. 16 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for AbbVie in the last year. (6.33% Upside) Based on 15 Wall Street analysts offering 12 month price targets for AbbVie in the last 3 months. On average, analysts rate AbbVie stock as a buy. 67.71% of the stock of AbbVie is held by institutions. (my table and forecasts). That led to an overall 6% year-on-year gain of 6%, and a 13% sequential gain. The CEO, speaking at a fireside chat during the conference, commented: we remain well-positioned to absorb the impact from the Humira LOE and quickly return to strong growth starting in 2025. All rights reserved. The average ABBVIE INC stock forecast 2023 represents a 1.86% increase from the last price of $153.729995727539. Venclexta - a "first-in-class BCL-2 inhibitor for multiple hematological malignancies", according to Gonzalez, is forecast for strong growth, whilst Gonzalez has name checked 3 new drugs he expects to be approved by 2026. I have not managed to match management's ambitious high-single-digit growth figures from 2025 - 2023, despite anticipating 6% growth for nearly all products in that period. Abbvie has a strong pipeline of projects ahead, and has recently received US FDA approval of its ulcerative colitis drug Rinvoq. 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. 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 on the strength of its future rather than present portfolio. 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. Projections are based on making fundamental and technical studies of the ABBV stock price performance. I am not receiving compensation for it (other than from Seeking Alpha). The important point here is that physicians will not necessarily be under any pressure to switch patients from Humira to a biosimilar, given, as Gonzalez puts it: there won't be any difference between the biosimilar and Humira from a co-pay standpoint or any kind of a step editing. Gene therapies have been a long time coming, having first been popularized in the early noughties. Aurora Cannabis Revenue Forecast for 2023 - 2025 - 2030. Insiders that own company stock include Azita Saleki-Gerhardt, Brian L Durkin, Carlos Alban, Carrie C Strom, Carrie C Strom, Elaine K Sorg, Henry O Gosebruch, Jeffrey Ryan Stewart, Laura J Schumacher, Michael Severino, Perry C Siatis, Richard A Gonzalez, Robert A Michael, Roxanne S Austin, Scott T Reents, Timothy J Richmond and Timothy J Richmond. 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. Abbvie stock price has put up an impressive performance in 2022. Is this happening to you frequently? Export data to Excel for your own analysis. AbbVie trades on the New York Stock Exchange (NYSE) under the ticker symbol "ABBV.". View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. I take the total revenue figure from each year and plug it into an income statement forecast as follows: AbbVie income statement forecast. Payout ratios above 75% are not desirable because they may not be sustainable. Please. All rights reserved. ABBV currently yields 4.1% and has raised its dividend every year since 2013. Sales of the drug reached $19.9bn in 2018 and were $19.2bn, $19.8bn and $20.6bn in 2019, 2020, and 2021 respectively. Get 30 Days of MarketBeat All Access Free, Sign in to your free account to enjoy these benefits. The most recent increase was . Ltd., AbbVie Overseas S. r.l., AbbVie Oy, AbbVie Participaes Ltda., AbbVie Pharmaceutical Trading (Shanghai) Co. Ltd., AbbVie Pharmaceuticals B.V., AbbVie Pharmaceuticals GmbH, AbbVie Pharmaceuticals LLC, AbbVie Pharmaceuticals SCA., AbbVie Pharmaceuticals Societe Anonyme, AbbVie Polska Sp. What is a Good Dividend Yield? AbbVie's success - as its shareholders will doubtless be aware - stems from the runaway success of its immunology drug Humira, which is indicated for a range of autoimmune conditions, including Rheumatoid Arthritis, Psoriatic Arthritis, Psoriasis, Crohn's Disease, Ulcerative Colitis, Hidradenitis Suppurativa and Ankylosing spondylitis. With Skyrizi and Rinviq - two assets developed in-house - performing so well, however, perhaps we should give management the benefit of the doubt. In February, a Phase 3 induction study saw positive top-line results. The review period was extended by three months in order for the FDA to review additional data submitted by AbbVie. I do much more than just articles at Haggerston BioHealth: Members get access to model portfolios, regular updates, a chat room, and more. There is no mention of Women's Health in the Q2'22 earnings call or in the 10-Q submission to the SEC, or any of the drugs within it, yet the divisions have not (to the best of my knowledge) been sold, despite rumors it was put up for sale at ~$5bn. The companys original winner, Humira, is still the number one revenue source but the portfolio has been greatly expanded. 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. Receive regular, detailed analysis focused on biotech and healthcare stocks. AbbVie updated its FY 2024 earnings guidance on Friday, February, 10th. The firm earned $15.12 billion during the quarter, compared to the consensus estimate of $15.30 billion. AbbVie is led by CEO and Chairman Rick Gonzalez - likely the only Pharma CEO who lacks a college degree - who has successfully defended Humira from generic drug competition by adopting a controversial strategy of continually applying for new patents related to minor changes in manufacturing methods or administration, often referred to as a "patent thicket". writing - trading down slightly from its all-time high of >$160 achieved in early December last year. On the negative side of things, we can see that AbbVie is no longer breaking out sales within its Women's Health division, with revenues lumped into the "all other section, presumably. You should do your own research and never invest money you cannot afford to lose. 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. We expect that to happen in 2027 with continued significant growth anticipated in the following years. Their ABBV share price forecasts range from $140.00 to $200.00. The firm's revenue for the quarter was up 1.6% compared to the same quarter last year. AbbVie's stock is owned by many different institutional and retail investors. AbbVie has a PEG Ratio of 3.51. 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. That is substantially higher than the 12% CAGR achieved between 2018 - 2022, although that period includes the additional revenues from Allergan. The official website for the company is www.abbvie.com. 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. AbbVie Stock Forecast 03-06-2023. Between September 2021 and April 2022, AbbVie stock went on a sensational bull run, gaining 62% and hitting an all-time peak of $174. As I have mentioned in previous notes, however, the gains owe more to price hikes than sales volumes, and come 2023 and the LOE, even AbbVie admits the blow to revenues will be substantial. Over the next nine years, experts believe that GSK's Free Cash Flow will grow at a rate of 1.98%. Today, AbbVie operates as a diversified multi-national pharmaceutical company with a patient-centric approach to research. My calculation is that Humira revenues in 2023 will be 80% of the 2022 figure, or $16.7bn. AbbVie's post-Humira LOE plans are not riskless, and its targets are ambitious, but nevertheless I see no harm in picking up shares in the Pharma at the current price, accepting a generous 4% dividend, and likely benefitting from share repurchases and a steadily growing share price until 2030. In my model I have then reduced revenues by 20% between 2024 - 2026, and then by 10% per annum between 2027 - 2030. It now expects full-year profit in the range of $13.92-$14.12 a share. Having so much debt in a prevailing inflationary environment is also unattractive. As we look beyond 2025, we expect combined sales for Skyrizi and Rinvoq to exceed the peak revenues achieved by Humira, which was more than $21 billion. (AbbVie JPM Healthcare conference presentation). The company has a robust pipeline of new products that are in some stage of clinical trials. The median. 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. 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. Ever since its split from Abbott Laboratories (ABT) in 2012 AbbVie (NYSE:ABBV) has delivered strong returns for investors - its stock price having risen overall from $30, to $149 per share at the time of writing - trading down slightly from its all-time high of >$160 achieved in early December last year. The companys operations span 20 countries, treating more than 60 million people and 40 conditions annually. AbbVie's Q2'22 earnings threw up some positives and negatives for investors to contemplate. Since then, however, the stock price has fallen 18% to its current price of $142.6. 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. Neurology also looks strong although aesthetics, eye care and oncology have something to prove. AbbVie saw a increase in short interest in February. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. And it couldnt be more wrong! Net earnings also saw a steep rise to $4.49bn from $3.55bn, while net revenue jumped to $13.54bn from 13.01bn. Let's begin our analysis with the immunology division. 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. Management has previously stated that it expects total revenues to decline in 2023 following the Humira LOE, followed by a return to growth in 2024, and a "high single digit CAGR" maintained through the remainder of the decade. Our first quarter results highlight the diversity of our portfolio and include compelling performance from key growth drivers Skyrizi, Rinvoq, Aesthetics and Neuroscience. 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. For the next year, analysts predict that Free Cash Flow will reach 6.91B - an increase of 1.94%. Management initially blamed slow take-up post pandemic for the drug's declining sales, but Gonzalez also told JPM Conference attendees that "new competitive entrants has significantly lowered our sales expectations for Imbruvica". 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. But AbbVie is also keen to explore solid tumors, and I am therefore adding an additional $1.5bn of revenues from that source by 2030.
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