AbbVie (ABBV) : Analyst Rating Update

AbbVie (ABBV) : The consensus on AbbVie (ABBV) based on 14 analyst recommendation on the company stock is 2.14, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 7 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 6 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 1 analyst sees the stock overvalued at current levels and advises a Strong Sell on the stock.

AbbVie (ABBV) : Average target price received by AbbVie (ABBV) is $71.77 with an expected standard deviation of $10.83. The most aggressive target on the stock is $90, whereas the most downbeat target is $47. 13 financial analysts are currently covering the stock.

AbbVie (NYSE:ABBV): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $61.84 and $61.80 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $63.76. The buying momentum continued till the end and the stock did not give up its gains. It closed at $63.37, notching a gain of 2.34% for the day. The total traded volume was 9,202,151 . The stock had closed at $61.92 on the previous day.

Also, In the latest statement by the brokerage house, BMO Capital downgrades its outlook on AbbVie (NYSE:ABBV). The current rating of the shares is Market Perform, according to the research report released by the firm. Previously, the company had a rating of Outperform. The rating by the firm was issued on June 10, 2016. The company shares have dropped -8.48% from its 1 Year high price. On Jul 21, 2015, the shares registered one year high at $71.60 and the one year low was seen on Oct 22, 2015. The 50-Day Moving Average price is $61.19 and the 200 Day Moving Average price is recorded at $58.46.

AbbVie Inc. (AbbVie) is a global, research-based biopharmaceutical company. The Company develops and markets therapies that address a range of diseases. The Companys products are focused on treating conditions, such as chronic autoimmune diseases, including rheumatoid arthritis, psoriasis and Crohns disease; hepatitis C (HCV); human immunodeficiency virus (HIV); endometriosis; thyroid disease; Parkinsons 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 womens health. The Companys product portfolio includes HUMIRA, HCV products, Additional Virology products, Metabolics/Hormones products, Endocrinology products and other products.

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