#5 - AbbVie (NYSE:ABBV)
The story of AbbVie (NYSE: ABBV) in 2020 and 2021 has revolved around its signature anti-inflammatory drug, Humira. The company was due to see its patents expire for the drug which would invite generic competition into the market. With those expirations looming, the company purchased Allergan for $63 billion to help expand the company’s portfolio.
However, it’s not like AbbVie’s cupboard was dry. The company is projecting continued growth from its immunology drugs, Skyrizi and Rinvoq which the company believes could deliver $15 billion in revenue by 2025.
And AbbVie has an impressive pipeline that ensures that, at some point, the company will have other drugs that will continue to deliver revenue.
ABBV stock has a consensus price target of $126.16 which is a 15% upside from its current level. But as with JNJ, you can’t overlook AbbVie’s dividend. The company has increased its dividend for 49 years which means that next year it will likely be joining the elite group of Dividend Kings.
About AbbVie
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.
Read More - Current Price
- $166.42
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 11 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $176.14 (5.8% Upside)
