Raymond James Initiates Coverage on AbbVie Inc to Outperform

Raymond James Initiates Coverage on AbbVie Inc(NYSE:ABBV). The shares have been rated Outperform. The rating by Raymond James was issued on Sep 2, 2016.

In a different note, On Jun 10, 2016, BMO Capital said it Downgrades its rating on AbbVie Inc. The shares have been rated ‘Market Perform’ by the firm. On Jun 8, 2016, Morgan Stanley said it Downgrades its rating on AbbVie Inc. In the research note, the firm Lowers the price-target to $73.00 per share. The shares have been rated ‘Equal-weight’ by the firm. On Jun 6, 2016, Cowen & Company said it Downgrades its rating on AbbVie Inc. The shares have been rated ‘Market Perform’ by the firm.

AbbVie Inc (ABBV) shares turned negative on Thursdays trading session with the shares closing down -0.07 points or -0.11% at a volume of 51,26,674. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $64.14. The peak price level was also seen at $64.14 while the days lowest was $63.605. Finally the shares closed at $64.03. The 52-week high of the shares is $68.1239 while the 52-week low is $45.45. According to the latest information available, the market cap of the company is $104,276 M.

AbbVie Inc(ABBV) last announced its earnings results on Jul 29, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $6.43B. Analysts had an estimated revenue of $6.20B. Earnings per share were $1.26. Analysts had estimated an EPS of $1.20.

Several Insider Transactions has been reported to the SEC. On Jun 28, 2016, Laura J Schumacher (Executive Vice President) sold 186,106 shares at $60.07 per share price.Also, On Jun 3, 2016, Richard A Gonzalez (Chairman of the Board and CEO) sold 285,953 shares at $63.87 per share price.On May 12, 2016, Timothy J. Richmond (SVP, Human Resources) sold 21,583 shares at $63.52 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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