AbbVie has fought off patent challenges against Humira for years longer than expected, and despite losing exclusivity in Europe in 2020, a series of price hikes and market dominance in the US in indications such as Rheumatoid Arthritis ("RA"), Psoriatic Arthritis ("PsA"), Crohn's Disease ("CD"), and Ulcerative Colitis ("UC") - have enabled the drug's sales revenues to keep growing. There are currently 9 hold ratings and 7 buy ratings for the stock. On the negative side of things, we can see that AbbVie is no longer breaking out sales within its Women's Health division, with revenues lumped into the "all other section, presumably. In this article we take a closer look at the Abbvie stock forecast, after analysing the firms latest earnings, price moving news and analyst comments. As we can see, as per management's guidance revenues fall between 2022 and 2023, before recovering and growing in each year after. The average analyst rating for AbbVie stock from 34 stock analysts is "Buy". That is substantially higher than the 12% CAGR achieved between 2018 - 2022, although that period includes the additional revenues from Allergan. . And never invest or trade money you cannot afford to lose. Slide from JPM Conference 2022 presentation. 67.71% of the stock of AbbVie is held by institutions. CNN Sans & 2016 Cable News Network. Our daily ratings and market update email newsletter. Forecast . Capital Com is an execution-only service provider. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. I am not receiving compensation for it (other than from Seeking Alpha). The average Abbvie stock price prediction forecasts a potential upside of 7.07% from the current ABBV share price of $155.27. We're currently running a sale at my private investing ideas service, Haggerston BioHealth, where members get access to portfolios, market alerts, real-time chat, and more. Ever since its split from Abbott Laboratories (ABT) in 2012 AbbVie (NYSE:ABBV) has delivered strong returns for investors - its stock price having risen overall from $30, to $149 per share at the time of writing - trading down slightly from its all-time high of >$160 achieved in early December last year. The average ABBVIE INC stock forecast 2023 represents a 1.86% increase from the last price of $153.729995727539. I wrote this article myself, and it expresses my own opinions. The company reported its first revenue for Botox competitor Daxxify. The Abbvie stock forecast for 2025 had the price at $259.018. Drug pricing is another issue - there is bipartisan, and international pressure on US Pharmas to reduce drug pricing, particularly outside of the US. This figure could eventually end up substantially larger - according to Gonzalez: We've begun to see some very exciting data from several solid tumor programs, including our anti-GARP antibody ABBV-151, and our PTK7 ADC, ABBV-647. Past performance is no guarantee of future results. AbbVie is a leader in ESG and sustainability. According to 23 major analysts, AbbVie's Fair Value will fall by 5.43% in the next year, reaching $122.98. Armed with management's detailed guidance and commentary on sales performance of key assets and new product launches, however, I have completed sales projections for AbbVie to 2030, which I will share in this post, highlighting areas of strength and potential weaknesses. Only 0.08% of the stock of AbbVie is held by insiders. Shares of ABBV stock can be purchased through any online brokerage account. What intrigues here is the possibility of RGX-314, an anti-VEGF gene therapy that Gonzalez believes "has the potential to be a one-time treatment for wet AMD, diabetic retinopathy and other chronic retinal conditions". There has been a raft of price-moving news for Abbvie, which may positively affect the stock price. The current consensus among 24 polled investment analysts is to Buy stock in Abbvie Inc. Compare Top Brokerages Here. The company may not generate as much excitement as some of the other members of the "Big 8" - most notably Eli Lilly and its weight loss franchise, but the path to revenue growth, expanding margins and a growing share price is clear. 8.05% Pharmaceuticals are often valued based on a philosophy of "jam tomorrow" as opposed to jam today i.e. In my opinion, based on the current portfolio, AbbVie shares look undervalued below $160, but the upside above that price is limited, unless management is able to commercialize more products between now and the end of the decade, in order to achieve what looks like a very ambitious goal in driving high-single-digit revenue growth in the second half of this decade. Management are very optimistic on Vraylar, with Gonzalez describing it as "now the only antipsychotic that is a dopamine and serotonin partial agonist approved for the treatment of the most common forms of depression, Bipolar 1 and MDD" and targeting >$5bn peak sales. The companys operations span 20 countries, treating more than 60 million people and 40 conditions annually. It . View ABBV analyst ratings or view top-rated stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. The drug is now approved in severe Rheumatoid Arthritis, active Psoriatic Arthritis, moderate to severe Atopic Dermatitis, Ulcerative Colitis, active Ankylosing Spondylitis, with Crohn's Disease the next approval on the list. I'll also share some a forward income statement and discounted cash flow analysis that suggests the present value of AbbVie shares ought to trade as high as $176, implying that shares are presently discounted by as much as 18% to their true worth. This would represent an increase of 1.78%. Free Stock Analysis Report: See The True Value of Any Stock, The Best Strategy For Your Small Trading Account. On average, they expect the company's stock price to reach $161.12 in the next twelve months. With no LOEs on the horizon, it is relatively plain sailing for the company ex-Humira, and the performance of Skyrizi and Rinvoq - to date at least - suggests management does have this massive patent cliff covered. We expect that to happen in 2027 with continued significant growth anticipated in the following years. AbbVie does not have the funds to pursue any large M&A deals, but it does not need to either, given the strength of its pipeline and products. In my last note on AbbVie (NYSE:ABBV) for Seeking Alpha - in early July - I reviewed the Big Pharma's Q1'22 earnings and looked ahead to the release of Q2'22 figures. The major market events for the week ahead right in your inbox. ABBV-916 is targeting Alzheimer's and it is an anti-amyloid antibody, with a similar mechanism of action ("MoA") to recently approved Leqembi, developed by Biogen (BIIB) / Eisai, and likely soon-to-be approved Donanemab, developed by Eli Lilly. Based on earnings estimates, AbbVie will have a dividend payout ratio of 54.11% next year. In summary, the total revenue increase of just 4% year-on-year in Q2'22 might disappoint a few investors, as might the downgraded guidance, although it is hard to argue that AbbVie is a bad investment when we consider that the Pharma also pays a dividend of $1.41 per quarter, yielding 4% per annum, drove operating earnings of $3.925bn on a GAAP basis, and trades at a >10% discount to my calculated target price. The pharma industry witnessed solid growth amid the pandemic. Other products such as Mavyret and Creon appear to have many more years of blockbuster sales ahead of them, although it is interesting to note that AbbVie no longer reports revenues from its Women's Health division, and scarcely mentions it. Trial results demonstrated an overall response rate of 63% and a median duration of response of 12 months, where 39% of patients had already tried a CAR-T cell therapy. The five-year dividend growth rate is just below 18%. To see all exchange delays and terms of use please see Barchart's disclaimer. Forecasts shouldnt be used as a substitute for your own research. Remember that past performance is not a guarantee of future results and you should never invest more money than you can afford to lose. In the past I have written about the high level of competition between major Pharma in the auto-immune space - for example, for Psoriatic Arthritis the list of approved drugs includes Humira, UCB Pharma's Cimzia, Amgen's Enbrel, Johnson & Johnson's (JNJ) Stelara, Eli Lilly's (LLY) Talzt, Novartis' (NVS) Cosentyx and Bristol-Myers Squibb's (BMY) Orencia. Note that analysts ABBV stock forecasts can be wrong. Fortunately for AbbVie shareholders Gonzalez and his management team have had many more years than expected to prepare for Humira's Loss of Exclusivity ("LOE"), and it has never been the Pharma's ambition to build its business around a single, all-conquering but time-limited drug. We continue to anticipate a clearer path to strong sales growth in 2025 with high-single-digit compounded annual growth rate to the end of this decade. Post-spin, AbbVie emerged as a research-based biopharma that has more than doubled in size. As such I have downgraded my own growth expectations in the forecasting table above, reducing annual growth from 7.5%, to just 2.5%, after forecasting for $5bn revenues in FY22 - down 7.5% year-on-year. Date. The dividend payout ratio of AbbVie is 89.56%. In 2022, the company will most likely boast 12 "blockbuster" (>$1bn per annum) selling assets, driving ~$48bn of revenues between them, with Humira being the only drug that faces a near term patent expiry, whilst AbbVie is promising at least 6 or 7 major new product launches by 2026. What is a Good Dividend Yield? As of 30 June, analysts price predictions compiled by MarketBeats and long-term forecasts by Wallet Investor projected that the ABBV stock price could rise. About the AbbVie, Inc. stock forecast. All times are ET. On 14 January 2022, the FDA approved Abbvies arthritis treatment drug, Rinvoq (upadacitinib), for the treatment of adults with moderately to severely active ulcerative colitis. Although management reminded analysts that "Imbruvica continues to be the total market share leader across all lines of therapy in CLL", the outlook does not look especially promising. Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools: You have already added five stocks to your watchlist. What is AbbVie's stock price forecast for 2023? I/we have a beneficial long position in the shares of ABBV, BMY either through stock ownership, options, or other derivatives. Management believes these 2 drugs could one day generate $15bn in peak sales, going a long way to solving the Humira loss of exclusivity ("LOE") problem. The Large Pharma sector performed remarkably well in 2022, with the "Big 8" delivering an average ~15% gain whilst the S&P 500 index fell in value, and the biotech sector was in turmoil. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Export data to Excel for your own analysis. AbbVie discounted cash flow analysis. Migraine therapy Ubrelvy is a future blockbuster, Gonzalez believes, as is Qulipta, in the same indication. I have downgraded my forecasts to 2016 accordingly however to 2% annual growth.
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