AbbVie (NYSE:ABBV) Raised to "Buy" at Erste Group Bank

Key Points

• Erste Group Bank upgraded AbbVie to “Buy” from “Hold,” adding to a broadly positive analyst view. AbbVie has an average “Moderate Buy” rating and an average price target of $272.76.
• AbbVie’s shares rose to $248.61, while the company reported second-quarter EPS of $3.65 and revenue of $16.99 billion, surpassing analyst expectations and marking 10.2% year-over-year revenue growth.
• Institutional ownership remains strong: Hedge funds and other institutional investors own 70.23% of AbbVie, with major holders including Vanguard, State Street and Geode Capital increasing their stakes.

AbbVie (NYSE:ABBV - Get Free Report) was upgraded by equities researchers at Erste Group Bank from a "hold" rating to a "buy" rating in a note issued to investors on Wednesday, MarketBeat Ratings reports.

ABBV has been the subject of several other reports. Guggenheim raised their target price on AbbVie from $261.00 to $288.00 and gave the stock a "buy" rating in a research report on Tuesday. Royal Bank Of Canada raised their price objective on AbbVie from $260.00 to $280.00 and gave the stock an "outperform" rating in a research report on Friday, July 10th. DZ Bank upgraded AbbVie from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 30th. Wells Fargo & Company raised their price target on shares of AbbVie from $260.00 to $295.00 and gave the stock an "overweight" rating in a report on Friday, July 10th. Finally, Citigroup boosted their target price on shares of AbbVie from $230.00 to $260.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, AbbVie currently has an average rating of "Moderate Buy" and an average target price of $272.76.

AbbVie Price Performance

NYSE:ABBV traded up $4.81 during mid-day trading on Wednesday, reaching $248.61. The stock had a trading volume of 931,752 shares, compared to its average volume of 7,007,513. AbbVie has a 12 month low of $190.75 and a 12 month high of $267.47. The stock has a market capitalization of $439.24 billion, a PE ratio of 70.23, a P/E/G ratio of 0.81 and a beta of 0.30. The stock has a 50-day simple moving average of $240.29 and a two-hundred day simple moving average of $224.41.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Friday, July 31st. The company reported $3.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.61 by $0.04. The business had revenue of $16.99 billion during the quarter, compared to analysts' expectations of $16.80 billion. AbbVie had a net margin of 9.80% and a negative return on equity of 466.39%. The firm's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.97 EPS. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. Equities analysts expect that AbbVie will post 14.08 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of AbbVie by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company's stock valued at $41,306,353,000 after buying an additional 3,032,438 shares during the period. State Street Corp raised its stake in AbbVie by 1.4% in the 4th quarter. State Street Corp now owns 80,940,931 shares of the company's stock valued at $18,494,193,000 after acquiring an additional 1,119,274 shares during the period. Geode Capital Management LLC boosted its position in AbbVie by 10.4% during the fourth quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company's stock worth $10,179,099,000 after purchasing an additional 4,190,487 shares during the period. Bank of America Corp DE lifted its stake in shares of AbbVie by 1.4% during the 4th quarter. Bank of America Corp DE now owns 25,824,399 shares of the company's stock valued at $5,900,617,000 after buying an additional 356,394 shares in the last quarter. Finally, Norges Bank purchased a new position in AbbVie in the 4th quarter valued at approximately $5,865,055,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie News Roundup

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Strong second-quarter results: AbbVie reported revenue of $16.99 billion, up 10.2% year over year and ahead of expectations, while adjusted EPS of $3.65 exceeded the consensus estimate of $3.61. Growth in Skyrizi, Rinvoq and neuroscience products helped support higher 2026 revenue guidance. ABBV Q2 Deep Dive: Immunology and Neuroscience Expansion Shape Outlook Amid Guidance Reset
• Positive Sentiment: New Botox opportunity: The FDA accepted Allergan Aesthetics’ supplemental application to review BOTOX Cosmetic for masseter muscle prominence, commonly associated with jawline appearance. If approved, Botox would be the first neurotoxin indicated for this use in the United States, expanding AbbVie’s aesthetics franchise. AbbVie Wins FDA Review For BOTOX Cosmetic In Jawline Treatment Push
• Positive Sentiment: Positive analyst view: Cantor Fitzgerald raised its AbbVie price target to $285, while broader Wall Street commentary remains bullish. One forecast also maintains a buy view and expects additional upside despite the stock trading near its highs. Cantor Fitzgerald Boosts AbbVie Price Target to $285.00
• Positive Sentiment: Pipeline and market access progress: Canada’s drug agency recommended conditional public reimbursement for migraine drug Ubrelvy, potentially improving access. AbbVie is also advancing late-stage oncology research with ABBV-706, adding longer-term pipeline potential. UBRELVY Recommended for Reimbursement by Canada’s Drug Agency
• Neutral Sentiment: Apogee acquisition mixed: Baron Capital exited Apogee Therapeutics after AbbVie’s buyout. The transaction adds pipeline assets and could strengthen immunology, but management previously indicated that deal-related dilution and higher research spending would weigh on near-term EPS. Baron Capital Exits Apogee Therapeutics Following AbbVie Buyout
• Negative Sentiment: Valuation remains a concern: With a forward-looking valuation viewed as demanding and some models projecting a price below current levels, investors may question how much of AbbVie’s growth is already reflected in the stock.

About AbbVie

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie's product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women's health.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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