Cowen & Company Downgrades AbbVie Inc to Market Perform

Brokerage firm Cowen & Company Downgrades its rating on AbbVie Inc(NYSE:ABBV). The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by Cowen & Company was issued on Jun 6, 2016.

In a different note, Societe Generale said it Initiates Coverage on AbbVie Inc, according to a research note issued on Apr 6, 2016. The shares have been rated ‘Sell’ by the firm. Deutsche Bank said it Initiates Coverage on AbbVie Inc, according to a research note issued on Mar 15, 2016. The shares have been rated ‘Hold’ by the firm.

AbbVie Inc (ABBV) made into the market gainers list on Fridays trading session with the shares advancing 0.41% or 0.25 points. Due to strong positive momentum, the stock ended at $61, which is also near the day’s high of $61.01. The stock began the session at $59.99 and the volume stood at 1,10,52,311 shares. The 52-week high of the shares is $71.6 and the 52 week low is $45.45. The company has a current market capitalization of $98,659 M and it has 1,61,73,58,600 shares in outstanding.

AbbVie Inc(ABBV) last announced its earnings results on Apr 28, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $5.96B. Analysts had an estimated revenue of $6.01B. Earnings per share were $1.15. Analysts had estimated an EPS of $1.14.

Several Insider Transactions has been reported to the SEC. On Jun 3, 2016, Richard A Gonzalez (Chairman of the Board and CEO) sold 285,953 shares at $63.87 per share price.Also, On May 12, 2016, Timothy J. Richmond (SVP, Human Resources) sold 21,583 shares at $63.52 per share price.On May 12, 2016, Thomas A. Hurwich (VP, Controller) sold 6,000 shares at $63.60 per share price, according to the Form-4 filing with the securities and exchange commission.

AbbVie Inc. (AbbVie) is a global research-based biopharmaceutical company. The Company develops and markets therapies that address a range of diseases. The Company’s products are focused on treating conditions such as chronic autoimmune diseases including rheumatoid arthritis psoriasis and Crohn’s disease; hepatitis C (HCV); human immunodeficiency virus (HIV); endometriosis; thyroid disease; Parkinson’s disease; complications associated with chronic kidney disease and cystic fibrosis and other health conditions such as low testosterone. AbbVie also has a pipeline of new medicines including over 30 compounds or indications in Phase II or Phase III development across a range of medical specialties such as immunology virology/liver disease oncology renal disease neurological diseases and women’s health. The Company’s product portfolio includes HUMIRA HCV products Additional Virology products Metabolics/Hormones products Endocrinology products and other products.

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