Bank of America Issues Positive Forecast for AbbVie (NYSE:ABBV) Stock Price

Key Points

• Bank of America raised its price target on AbbVie from $234 to $276 and kept a buy rating, implying about 12% upside from the prior close.
• Other analysts also turned more bullish: Wells Fargo, Piper Sandler, Cantor Fitzgerald, and Guggenheim all maintained or raised positive ratings and targets, leaving AbbVie with a Moderate Buy consensus and a $262.81 average target.
• AbbVie shares traded down to $246.24 on Friday, but the company’s latest earnings beat expectations, with $2.65 EPS and $15 billion in revenue for the quarter.

AbbVie (NYSE:ABBV - Get Free Report) had its price objective raised by equities researchers at Bank of America from $234.00 to $276.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Bank of America's price objective suggests a potential upside of 12.09% from the stock's previous close.

Several other research firms have also weighed in on ABBV. Wells Fargo & Company lifted their target price on AbbVie from $260.00 to $295.00 and gave the stock an "overweight" rating in a report on Friday. Piper Sandler restated an "overweight" rating and set a $298.00 target price on shares of AbbVie in a research report on Tuesday, June 23rd. Cantor Fitzgerald raised their price objective on AbbVie from $240.00 to $265.00 and gave the company an "overweight" rating in a report on Monday. Guggenheim increased their price objective on AbbVie from $249.00 to $261.00 and gave the company a "buy" rating in a report on Thursday. Finally, Wall Street Zen lowered AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 5th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $262.81.

AbbVie Stock Performance

Shares of NYSE:ABBV traded down $3.67 during midday trading on Friday, reaching $246.24. The company had a trading volume of 2,472,784 shares, compared to its average volume of 7,180,692. The company has a fifty day simple moving average of $224.54 and a two-hundred day simple moving average of $221.06. The firm has a market cap of $435.06 billion, a price-to-earnings ratio of 121.36, a price-to-earnings-growth ratio of 0.83 and a beta of 0.30. AbbVie has a 1-year low of $184.63 and a 1-year high of $261.64.

AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The business had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.72 billion. During the same period last year, the firm posted $2.46 earnings per share. The firm's quarterly revenue was up 12.4% compared to the same quarter last year. Analysts expect that AbbVie will post 14.25 EPS for the current year.

Institutional Trading of AbbVie

Several institutional investors and hedge funds have recently modified their holdings of ABBV. Procyon Advisors LLC grew its holdings in AbbVie by 19.9% in the fourth quarter. Procyon Advisors LLC now owns 32,752 shares of the company's stock valued at $7,484,000 after purchasing an additional 5,427 shares during the last quarter. Waycross Partners LLC boosted its holdings in shares of AbbVie by 2.9% during the fourth quarter. Waycross Partners LLC now owns 182,476 shares of the company's stock worth $41,694,000 after purchasing an additional 5,063 shares during the last quarter. Calamos Advisors LLC boosted its holdings in shares of AbbVie by 3.4% during the fourth quarter. Calamos Advisors LLC now owns 466,290 shares of the company's stock worth $106,543,000 after purchasing an additional 15,458 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of AbbVie by 11.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 636,710 shares of the company's stock valued at $143,026,000 after purchasing an additional 66,720 shares during the period. Finally, Savvy Advisors Inc. increased its stake in AbbVie by 22.2% in the fourth quarter. Savvy Advisors Inc. now owns 36,568 shares of the company's stock valued at $8,355,000 after purchasing an additional 6,646 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie News Roundup

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: RBC Capital raised AbbVie’s price target to $280 and kept an outperform rating, signaling confidence in further upside for the shares. RBC price target article
• Positive Sentiment: JPMorgan also lifted its target to $280 and maintained an overweight rating, reinforcing the view that AbbVie remains attractively valued relative to its growth prospects. JPMorgan price target article
• Neutral Sentiment: A recent comparison of Johnson & Johnson and AbbVie highlighted both companies’ Q1 2026 results and the different ways each is appealing to income investors, but it did not point to a major new catalyst specific to AbbVie. Comparison article
• Neutral Sentiment: AbbVie’s recent trading has been choppy, with the shares pulling back after a prior move higher, which may reflect profit-taking rather than any fundamental deterioration. Recent trading article
• Neutral Sentiment: West Pharmaceutical completed the SmartDose sale to AbbVie, a transaction that appears operationally supportive but is not likely to be a major immediate stock driver. SmartDose sale article

AbbVie Company Profile

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.

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