Published: Sun, April 15, 2018
Medicine | By Earnest Bishop

AbbVie Shares Plummet as $5.8B Bet on Stemcentrx Takes a Hit

AbbVie Shares Plummet as $5.8B Bet on Stemcentrx Takes a Hit

It's down -0.13, from 1.31 in 2017Q3. "We have previously highlighted that a negative outcome from the TRINITY study could have a 4%-5% negative impact on ABBV's earnings and valuation". 139 funds opened positions while 448 raised stakes. The investment professionals in our database now possess: 65.20 million shares, up from 65.06 million shares in 2017Q3. Wright Invsts Serv owns 50,745 shares.

Several large investors have recently added to or reduced their stakes in the stock. RICHMOND TIMOTHY J. had sold 18,129 shares worth $2.15 million on Wednesday, February 28. Fuller Thaler Asset Management Inc accumulated 14,400 shares or 0.02% of the stock. Scotia Capital Inc holds 126,297 shares or 0.16% of its portfolio.

As of now, AbbVie Inc. has a P/S, P/E and P/B values of 6.4, 20.3 and 35.25 respectively. (NYSE:ABBV) for 3,494 shares.

When price is in an uptrend and subsequently, the moving average is in an uptrend, and the moving average has been tested by price and price has bounced off the moving average a few times (i.e. the moving average is serving as a support line), then a trader might buy on the next pullbacks back to the Simple Moving Average. First, it contains the Fundamental Analysis of the stock or investment market, which is performed by a skilled stock analyst to measure the stock data from various sources, including financial data, economic reports, organizational assets, shares of stock market and so on. Oak Associate Ltd Oh owns 4,940 shares or 0.03% of their U.S. portfolio. Pacific Global Mngmt has 25,770 shares for 0.54% of their portfolio. 360,952 are owned by Sei Investments. Braun Stacey Associates holds 126,883 shares or 0.82% of its portfolio. Insiders sold 211,197 shares of company stock valued at $24,585,575 over the last quarter. (NYSE:ABBV) shares. The insider ALBAN CARLOS sold $9.57M. Schumacher Laura J also sold $14.07M worth of AbbVie Inc. SALEKI-GERHARDT AZITA also sold $157,458 worth of AbbVie Inc.

BMO Capital now has a $80 price target on shares of AbbVie (NYSE:ABBV). $93.11's average target is -5.77% below currents $98.8101 stock price. Jefferies Group upped their target price on AbbVie from $115.00 to $120.00 and gave the company a buy rating in a report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Therefore 45% are positive. According to these analysts, the Low Revenue Estimate for AbbVie 7.38 Billion and the High Revenue Estimate is 7.69 Billion.

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AbbVie's share price has nosedived after poor results from a phase 2 trial of its antibody-drug conjugate in advanced lung cancer.

Today, AbbVie is feeling the lash of disappointed analysts. As per Monday, November 20, the company rating was maintained by Cowen & Co. The stock has "Outperform" rating by Leerink Swann on Monday, October 30. The firm earned "Overweight" rating on Thursday, November 2 by Morgan Stanley. Considering that the stock recent volume of 26843237 shares, this represents a pretty noteworthy trading in volume size. Vanguard Group Inc. now owns 115,920,673 shares of the company's stock valued at $8,405,409,000 after purchasing an additional 3,706,941 shares during the period. AbbVie Inc. (NYSE:ABBV) has risen 39.20% since April 14, 2017 and is uptrending. It has underperformed by 6.07% the S&P500.

Analysts await Clovis Oncology, Inc. (NYSE:ABBV) to report earnings on April, 26. Following the completion of the sale, the vice president now owns 11,170 shares of the company's stock, valued at $1,334,033.10. During the same quarter in the previous year, the business posted $1.20 EPS. The company reported $1.48 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $1.44 by $0.04.

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide.

The company's stock is now moving with a +ve distance from the 200 day SMA of approximately 7.73%, and has a solid year to date (YTD) performance of 1.44% which means that the stock is constantly adding to its value from the previous fiscal year end price. The firm offers HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; IMBRUVICA, an oral therapy for the treatment of patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C. It has a 29.73 P/E ratio.

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