AbbVie (NYSE:ABBV) Given New $346.00 Price Target at Morgan Stanley

Key Points

• Morgan Stanley raised AbbVie’s price target to $346 from $310 and maintained an “overweight” rating, implying approximately 19.8% upside from the previous close.
• Analyst sentiment remains favorable: AbbVie has a “Moderate Buy” consensus rating and an average price target of $291.04, with Canaccord Genuity and Guggenheim also recently increasing their targets.
• AbbVie reported quarterly EPS of $3.82, exceeding expectations, while revenue rose 10.3% year over year to $17.40 billion. Shares nevertheless fell 2.1% to $288.74 in Monday trading.

AbbVie (NYSE:ABBV - Get Free Report) had its price objective increased by stock analysts at Morgan Stanley from $310.00 to $346.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Morgan Stanley's price target suggests a potential upside of 19.83% from the stock's previous close.

Other analysts have also recently issued research reports about the stock. Canaccord Genuity Group boosted their target price on shares of AbbVie from $290.00 to $338.00 and gave the stock a "buy" rating in a research note on Monday. Guggenheim increased their price target on AbbVie from $288.00 to $322.00 and gave the company a "buy" rating in a research note on Monday. Weiss Ratings raised AbbVie from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. Wolfe Research upgraded AbbVie from a "peer perform" rating to an "outperform" rating and boosted their price objective for the stock from $235.00 to $300.00 in a research report on Thursday, August 13th. Finally, Oppenheimer upped their target price on AbbVie from $244.00 to $258.00 and gave the stock a "neutral" rating in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $291.04.

AbbVie Stock Down 2.1%

Shares of ABBV stock traded down $6.15 on Monday, reaching $288.74. The company had a trading volume of 3,468,088 shares, compared to its average volume of 6,314,788. The stock has a market capitalization of $510.15 billion, a PE ratio of 49.65, a price-to-earnings-growth ratio of 1.35 and a beta of 0.24. AbbVie has a one year low of $190.75 and a one year high of $298.74. The business's 50-day moving average is $269.35 and its 200 day moving average is $237.23.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Friday, October 30th. The company reported $3.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.73 by $0.09. The company had revenue of $17.40 billion for the quarter, compared to analyst estimates of $17.32 billion. AbbVie had a net margin of 15.67% and a negative return on equity of 435.41%. The firm's revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.86 EPS. On average, sell-side analysts forecast that AbbVie will post 13.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Nicholas Donoghoe sold 32,710 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $250.00, for a total value of $8,177,500.00. Following the completion of the sale, the executive vice president directly owned 74,430 shares in the company, valued at $18,607,500. This represents a 30.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.06% of the stock is owned by insiders.

Institutional Investors Weigh In On AbbVie

Institutional investors have recently made changes to their positions in the stock. Ranch Capital Advisors Inc. raised its stake in shares of AbbVie by 37.0% during the first quarter. Ranch Capital Advisors Inc. now owns 14,888 shares of the company's stock worth $3,238,000 after buying an additional 4,017 shares during the last quarter. Capital Advisors Inc. OK increased its position in shares of AbbVie by 11.2% during the second quarter. Capital Advisors Inc. OK now owns 447,129 shares of the company's stock worth $112,516,000 after acquiring an additional 45,132 shares in the last quarter. Danica Pension Livsforsikringsaktieselskab acquired a new stake in shares of AbbVie in the 2nd quarter valued at about $23,557,000. Wedge Capital Management L L P NC boosted its position in AbbVie by 7.5% during the 2nd quarter. Wedge Capital Management L L P NC now owns 134,579 shares of the company's stock worth $33,865,000 after acquiring an additional 9,380 shares during the last quarter. Finally, State Street Corp increased its stake in AbbVie by 1.7% in the 2nd quarter. State Street Corp now owns 82,596,748 shares of the company's stock valued at $20,784,646,000 after buying an additional 1,379,232 shares during the last quarter. Institutional investors own 70.23% of the company's stock.

Trending Headlines about AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie beat third-quarter earnings and revenue expectations, while management raised its 2026 revenue and adjusted earnings outlook. Growth from immunology drugs Skyrizi and Rinvoq, along with neuroscience products, is driving momentum as the company moves beyond Humira’s decline. ABBV Q3 Earnings Call Highlights Raised Outlook and Pipeline Progress
• Positive Sentiment: Several analysts raised their price targets following the results. Targets include $330 from RBC, $325 from Cantor Fitzgerald, and as high as $338 from Canaccord Genuity, with bullish ratings maintained or initiated. These Analysts Increase Their Forecasts On AbbVie After Strong Q3 Results
• Positive Sentiment: AbbVie increased its quarterly dividend 5.2% to $1.82 per share, or $7.28 annualized, supporting the stock’s appeal to income-focused investors. AbbVie Stock Hits a Record After a 5.2% Dividend Raise
• Neutral Sentiment: A Phase 2 study found experimental ABBV-466 nearly doubled Skyrizi’s Crohn’s disease remission rate, offering potential for another blockbuster product, although the treatment remains investigational and clinical and regulatory risks remain. Prediction: AbbVie’s Next Blockbuster Is Hiding in a Two-Drug Crohn’s Combo
• Negative Sentiment: Valuation is a potential headwind: AbbVie trades at a comparatively high earnings multiple after a substantial rally, while some investors may prefer lower-valued peers such as Bristol Myers Squibb. Continued execution is needed to justify the premium and offset legacy-product declines. AbbVie vs. Bristol Myers Squibb

About AbbVie

AbbVie Inc NYSE: ABBV is a global biopharmaceutical company that discovers, develops and commercializes medicines and other healthcare products. Its portfolio focuses on immunology, oncology, neuroscience, aesthetics and eye care, serving patients and healthcare providers in markets around the world.

The company's key products include immunology medicines such as Skyrizi and Rinvoq; neuroscience treatments including Vraylar, Ubrelvy and Qulipta; and oncology products such as Imbruvica and Venclexta.

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