AbbVie's mailing address is 1 NORTH WAUKEGAN ROAD, NORTH CHICAGO IL, 60064. AbbVie has 5 focus areas for its research and products. The company projects the U.S. toxin market (where Botox is the top product) will decline by mid-single digits. I write about Biotech, Pharma and Healthcare stocks and share investment tips. The company can be reached via phone at (847) 932-7900 or via fax at 302-655-5049. Stock Price Forecast The 21 analysts offering 12-month price forecasts for Abbvie Inc have a median target of 165.00, with a high estimate of 200.00 and a low estimate of 135.00. Remember that past performance is not a guarantee of future results and you should never invest more money than you can afford to lose. Negative dynamics for AbbVie shares will prevail with possible volatility of 1.976%. ABBV has several positive factors pushing its price performance. A Warner Bros. Please. I have not managed to match management's ambitious high-single-digit growth figures from 2025 - 2023, despite anticipating 6% growth for nearly all products in that period. View AbbVie's Short Interest. I have downgraded my forecasts to 2016 accordingly however to 2% annual growth. I have no business relationship with any company whose stock is mentioned in this article. AbbVie has been the subject of 9 research reports in the past 90 days, demonstrating strong analyst interest in this stock. If you like what you have just read and want to receive at least 4 exclusive stock tips every week focused on Pharma, Biotech and Healthcare, then join me at my marketplace channel, Haggerston BioHealth. As I have mentioned in previous notes, however, the gains owe more to price hikes than sales volumes, and come 2023 and the LOE, even AbbVie admits the blow to revenues will be substantial. In the next year, analysts expect Free Cash Flow to reach $26.97B - an increase of 58.68%. Please log in to your account or sign up in order to add this asset to your watchlist. AbbVie CEO Gonzalez told the audience at the JPM Healthcare conference that: We now have a little over 90% access for next year for Humira at parity. I'm on twitter @edmundingham. Build a CFD portfolio with your favourite companies. These are Immunology, Oncology, Neurology, Virology and Eye Care. I wrote this article myself, and it expresses my own opinions. In the last two years, GSK's Free Cash Flow has grown by 0.37%, rising from 6.76B to 6.78B. 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. This suggests a possible upside of 3.2% from the stock's current price. As we can see above one of either Skyrizi or Rinvoq has now been approved for all of the same indications as Humira is, except for Hidradenitis Suppurativa, although Rinvoq is undergoing a Phase study in this indication. High institutional ownership can be a signal of strong market trust in this company. Year-to-date, the stock was up slightly more than 12% while benchmark global indices have all fallen sharply amid surging inflation, interest rate hikes and slowdown worries. ABBV currently yields 4.1% and has raised its dividend every year since 2013. Below, I will outline how I see AbbVie putting the Humira LOE firmly behind it, and driving the high single digit percentage annual growth management has promised. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.79%. AbbVie trades on the New York Stock Exchange (NYSE) under the ticker symbol "ABBV.". The most recent increase was . And it couldnt be more wrong! Based on our forecasts, a long-term increase is expected, the "ABBV" stock price prognosis for 2028-02-23 is 287.522 USD. 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. It had an upside potential of 4.76%, based on the closing price of $152.49 on 29 June. After creating the income statement I prepare the discounted cash flow/EBITDA multiple analysis. The P/E ratio of AbbVie is 23.61, which means that it is trading at a less expensive P/E ratio than the Medical sector average P/E ratio of about 100.12. Ltd., AbbVie Pty Ltd, AbbVie Purchasing LLC, AbbVie Real Estate Management GmbH, AbbVie Research B.V., AbbVie Resources Inc., AbbVie Resources International Inc., AbbVie Respiratory LLC, AbbVie S. de R.L., AbbVie S.A., AbbVie S.A., AbbVie S.A.S., AbbVie S.R.L., AbbVie S.r.l., AbbVie S. r.l., AbbVie SA, AbbVie SAS, AbbVie SIA, AbbVie Sarl, AbbVie Sdn. Both of these assets appear to be doing the job they were intended for - protecting AbbVie's dominance in various auto-immune markets - and now represent ~13% of AbbVie's total revenue generation. Under the terms of the resolution, AbbVie will grant Alvotech a non-exclusive licence to its Humira-related patents in the US, which will begin on 1 July 2023. This suggests a possible upside of 3.8% from the stock's current price. Johnson & Johnson is rushing toward a patent cliff but a new shelf offering registration suggests itis gearing up for acquisitions. call (03) 8658 0539 support.au@capital.com. The companys original winner, Humira, is still the number one revenue source but the portfolio has been greatly expanded. This rating has held steady since February, when it was unchanged from a Buy rating.Move your mouse over pastmonths for detail. Among the more notable are ImmuVen, Pharamcyclics and Allergan plc. The shining star in the aesthetics business is Botox, which increased sales by 45% year over year to $477 million in the first quarter of 2021. Noting the stellar earnings reported by the firm in the first quarter, Richard A. Gonzalez, chairman and CEO of AbbVie, said: An overview of the companys net revenue in Q1 shows a major portion of revenue came from its immunology portfolio, which brought in $6.14bn. Since then, however, the stock price has fallen 18% to. Their combined revenues are expected to reach $7.5bn in 2022, and Gonzalez told the audience at JPM that: Skyrizi and Rinvoq are now on pace to deliver more than $17.5 billion in combined sales, risk adjusted sales in 2025, well above our previous expectations. contact@marketbeat.com I wrote this article myself, and it expresses my own opinions. Eye Care, Other products Division Projected Revenues to 2030 (my table and assumptions ). That reflects uncertainty about what the future holds for AbbVie. Nineteen analysts predict that AbbVie's share price will increase in the coming year, reaching $165.00. American Consumer News, LLC dba MarketBeat 2010-2023. These products are not suitable for everyone and you should therefore consider your objectives, financial situation, needs and experience with these products before investing in them. Insiders that own company stock include Azita Saleki-Gerhardt, Brian L Durkin, Carlos Alban, Carrie C Strom, Carrie C Strom, Elaine K Sorg, Henry O Gosebruch, Jeffrey Ryan Stewart, Laura J Schumacher, Michael Severino, Perry C Siatis, Richard A Gonzalez, Robert A Michael, Roxanne S Austin, Scott T Reents, Timothy J Richmond and Timothy J Richmond. 326 E 8th St #105, Sioux Falls, SD 57103 View which stocks are hot on social media with MarketBeat's trending stocks report. When I began this post it was in my mind to give AbbVie stock a "Hold" rating owing to an underwhelming - on some levels - set of Q2'22 earnings, some concerns around high revenue generating products such as Imbruvica, Juvederm, and Restasis, the disappearance of the Women's Health division, the imminent LOE for Humira and the high levels of debt. Johnson & Johnson Free Cash Flow Forecast for 2023 - 2025 - 2030. To summarize, Humira may be going off-patent, but is more than capable of delivering double-digit billion revenues for another 3-4 years, and even in 2030, it could be amongst the top 20 best-selling drugs worldwide. The consensus among Wall Street research analysts is that investors should "hold" ABBV shares. Sign in to your free account to enjoy all that MarketBeat has to offer. AbbVie updated its FY 2024 earnings guidance on Friday, February, 10th. The P/E ratio of AbbVie is 23.61, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 126.03. An investment in AbbVie is not without risk, but my contention is that this Pharma is in good hands - CEO Gonzalez has made few mistakes during his near-decade in charge - and will emerge from the Humira LOE a stronger and more diverse company. The consensus rating was moderate buy based on 16 analysts ratings, with 10 recommending buy, five hold and sell. You should never invest money you cannot afford to lose. 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. AbbVie's total revenue grew a solid 51% to $50.2 billion over the last twelve month period, compared to $33.0 billion in 2019. Net earnings also saw a steep rise to $4.49bn from $3.55bn, while net revenue jumped to $13.54bn from 13.01bn. The other major plus is probably the performance of the neuroscience divisions, where as we can see, Botox (indicated for migraine treatment), atypical antipsychotic Vraylar, migraine therapy Ubrelvy and newly launched Qulipta, an oral CGRP inhibitor indicated for chronic migraine all delivered good sales growth. View the best growth stocks for 2023 here. The majority of the biosimilar (more sophisticated versions of generic drugs) imitations of Humira that will contest for market share with the original will launch around the middle of 2023, including versions developed by Pfizer (PFE), Boehringer Ingelheim, Organon (OGN), Biocon, Coherus Biosciences (CHRS) and Sandoz, whilst Amgen's (AMGN) Amjevita is permitted to launch in January. The stocks growth marks a significant outperformance over the broader markets. As we can see, sales of Humira are still climbing, with losses in Europe - where revenues fell by 14% to $699m - offset by growth in the US, to $4.7bn, up 10% year-on-year. Richard A. Gonzalez has an approval rating of 88% among the company's employees. Partnerships are with universities, medical facilities, research organizations and other pharmaceutical companies. Find me at my marketplace channel, Haggerston BioHealth - model portfolio + 4 exclusive stock tips every week. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. 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. Forecast . The company had recorded a $4.7 billion increase in the contingent consideration liability related to Skyrizi last year. Our daily ratings and market update email newsletter. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. Different trading strategies will suit different investment goals with short or long-term focus. Abbvie has a strong pipeline of projects ahead, and has recently received US FDA approval of its ulcerative colitis drug Rinvoq. AbbVie saw a increase in short interest in February. The review period was extended by three months in order for the FDA to review additional data submitted by AbbVie. Earnings for AbbVie are expected to decrease by -0.55% in the coming year, from $11.00 to $10.94 per share. Upgrade to MarketBeat Daily Premium to add more stocks to your watchlist. The first is Epcoritamab, a CD3xCD20 bispecific for B-cell malignancies, including DLBCL and follicular lymphoma, which AbbVie expects will be approved this year. Multidrug Resistant Bacteria Treatment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2030) Published: March 2, 2023 at 2:55 a.m. As of 2022, AbbVie employed more than 50,000 people globally with 21,000 in STEM-related positions. Real-time analyst ratings, insider transactions, earnings data, and more. I/we have a beneficial long position in the shares of BMY, GILD, ABBV either through stock ownership, options, or other derivatives. The surge in revenues can primarily be attributed to its Allergan. The firm earned $15.12 billion during the quarter, compared to the consensus estimate of $15.30 billion. Skyrizi - which inhibits the activities of IL-23 - a naturally occurring cytokine that is involved in inflammatory and immune responses - and Rinvoq - a member of the janus kinase inhibitor drug class - fit this profile. It revealed that patients with moderate to severe Crohns disease receiving Abbvies Rinvoq achieved steroid-free clinical remission in significantly higher numbers than patients receiving a placebo. The company is scheduled to release its next quarterly earnings announcement on Friday, May 5th 2023. (AbbVie JPM Healthcare conference presentation). AbbVie could be the biggest global Pharma by revenue generation in 2028. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. AbbVie declared a quarterly dividend on Thursday, February 16th. According to 34 stock analysts, the average 12-month stock price forecast for AbbVie stock is $166.14, which predicts an increase of 7.62%. Neuroscience looks highly promising too, and aesthetics capable of driving some respectable growth driven by old stager Botox. That led to an overall 6% year-on-year gain of 6%, and a 13% sequential gain. The company provided earnings per share (EPS) guidance of $10.70- for the period. Find the latest AbbVie Inc. (ABBV) stock quote, history, news and other vital information to help you with your stock trading and investing. The company officially IPOd on January 2, 2013; contrary to criticisms, the move was solely to protect the parent company from expiring patents. The eye-disease markets are very large - Regeneron's Eylea is a >$7bn per annum selling drug and AMD markets are >$20bn in size. 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. The next two approvals - for Navitoclax in Myelofibrosis and Teliso V in non squamous non-small cell lung cancer ("NSCLC") - are anticipated by management in 2024. 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. Enjoy your holiday weekend and catch up on our most read stories this week. In other words, management believes the LOE of Humira - despite it being the world's best-selling drug - will not hinder growth at the company. Payout ratios above 75% are not desirable because they may not be sustainable. My calculation is that Humira revenues in 2023 will be 80% of the 2022 figure, or $16.7bn. The important point here is that physicians will not necessarily be under any pressure to switch patients from Humira to a biosimilar, given, as Gonzalez puts it: there won't be any difference between the biosimilar and Humira from a co-pay standpoint or any kind of a step editing. AbbVie Inc. is a US-based biopharma company with global operations. The analysts 12-month consensus ABBV stock price target was $159.75. AbbVie made the bold decision to take on a heavy debt load and bid for Allergan, with the deal being completed in 2020. Among its many positions is sustainable operations so it can deliver life-changing therapies to those who need them most. All generate blockbuster <$1bn per annum sales - in Stelara's case >$9bn per annum, and in Enbrel's case, >$4.5bn. However, there are some general principles that can be followed in order to improve the accuracy of stock price predictions. AbbVie's Q2'22 earnings threw up some positives and negatives for investors to contemplate. Zscaler, Inc Plummets, Is It Time To Buy The Dip? (my tables). Discovery Company. In the next year, analysts predict that Revenue will reach C$253.83M - an increase of 3.50%. AbbVie product revenue forecasts to 2030. Neurology also looks strong although aesthetics, eye care and oncology have something to prove. Please. The company reported its first revenue for Botox competitor Daxxify. The official website for the company is www.abbvie.com. Duodopa is approved for Parkinson's Disease but Gonzalez believes that the subcutaneous non-surgical delivery system of candidate ABBV951 can "significantly expand the patient population currently addressed by Duopa", and sees the drug as yet another future blockbuster. AbbVie's post-Humira LOE plans are not riskless, and its targets are ambitious, but nevertheless I see no harm in picking up shares in the Pharma at the current price, accepting a generous 4% dividend, and likely benefitting from share repurchases and a steadily growing share price until 2030. Find me at my marketplace channel, Haggerston BioHealth - model portfolio + 4 exclusive stock tips every week. The lowest target is $136.35 and the highest is $210. All rights reserved. (6.33% Upside) Based on 15 Wall Street analysts offering 12 month price targets for AbbVie in the last 3 months. Abbvie stock price has put up an impressive performance in 2022. Your current $100 investment may be up to $188.28 in 2028. Having dived into the numbers however and looked ahead to 2030 through the eyes and guidance of management, my conclusion is that investors can probably buy AbbVie stock at current price with reasonably high hopes of making a decent ROI - perhaps 15 - 20% in the next 12 - 18 months, whilst also benefiting from a generous dividend. Whether these factors make ABBV a good investment for you or not will depend on your portfolio composition, investment goals and risk profile, among other factors. AbbVie (NYSE:ABBV) pays an annual dividend of $5.92 per share and currently has a dividend yield of 3.83%. AbbVie, like its parent Abbot Laboratories, is a well-established dividend growth stock. Always do your own research on a stocks price performance and predictions before making an investment. 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. I will conclude this analysis by stating that, based on all available information, market headwinds and tailwinds, competitors, and opportunities via its products and pipeline, I still consider AbbVie to be a strong investment opportunity. Receive regular, detailed analysis focused on biotech and healthcare stocks. Furthermore, it seems sales of Lupron and Synthroid have joined the "All Other" section, which has generated $2.2bn of revenues in the first half of 2022, versus $1.5bn in the first half of 2021. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. What guidance has AbbVie issued on next quarter's earnings? If youre new to trading, then youve probably heard the wrong thing about optionsthat theyre risky, unpredictable, or difficult. The companys operations span 20 countries, treating more than 60 million people and 40 conditions annually. All rights reserved. This has been in spite of a string of macroeconomic headwinds such as the ongoing Russia-Ukraine war that has contributed to record high inflation in the US and the UK, and the companys psoriatic arthritis drug Adalimumab, known as Humira, facing biosimilar rivals in the US from 2023. Currently, the company has a "stable" rating, but that must be maintained or investors will perceive the company as unsafe to invest in and that will drag the share price down rapidly. target price for AbbVie stock based on DCF / EBITDA multiple analysis (my table and assumptions). 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. As we look beyond 2025, we expect combined sales for Skyrizi and Rinvoq to exceed the peak revenues achieved by Humira, which was more than $21 billion. I take the total revenue figure from each year and plug it into an income statement forecast as follows: AbbVie income statement forecast. I haven't included Epcoritamab sales in my forecasts this time, but I hope to adjust the table before Q3'22 results are announced. The average analyst rating for AbbVie stock from 34 stock analysts is "Buy". Although Wallet Investor did not provide targets for 2030, its longer-term Abbvie stock prediction expected the price to hit $300.386 in June 2027. Aurora Cannabis Revenue Forecast for 2023 - 2025 - 2030. Snowflake Reports Weak Guidance: Is the Growth Snowflake Melting? That same month, the FDA extended the review period for Skyrizi (risankizumab), a treatment drug for moderate to severe Crohns disease in patients aged 16 and older. In general, it is important to pay attention to trends, both in the overall market and in the specific sector that a company is in. The average ABBVIE INC stock forecast 2023 represents a 1.86% increase from the last price of $153.729995727539. Based on earnings estimates, AbbVie will have a dividend payout ratio of 54.11% next year. What other stocks do shareholders of AbbVie own? Capital Com is an execution-only service provider. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Join the 500.000+ traders worldwide that chose to trade with Capital.com, Also you can contact us: That certainly won't derail the oncology division however. It should be noted that the strength of the competition AbbVie faces from other Pharma's desperate to claim a larger share of the immunology markets after Humira's LOE is fierce - Eli Lilly's (LLY) Olumiant, Pfizer's (PFE) Zeljanz, Amgen's Otezla, Bristol Myers Squibb's (BMY) Zeposia, Johnson & Johnson's (JNJ) Tremfya, Novartis' (NVS) Cosentyx and Regeneron (REGN) / Sanofi's (SNY) Dupixent to name a few. In this post, I will discuss Q2'22 results, as well as the long-term outlook for AbbVie based on the latest information, goals, risks, and financial modeling analysis, to try to establish a target price for AbbVie stock. The company didn't offer a . All rights reserved. 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. With AbbVie seemingly very confident of approvals for all 3 of these drugs, and Gonzalez suggesting they could form the basis of a "$6 billion kind of franchise" I have modelled for such an outcome by 2030. Revance Therapeutics gapped up 54.34% on January 9, and built upon those gains in February. The company originated as the bio-pharma segment of Abbott Laboratories and was spun off in late 2012. See what's happening in the market right now with MarketBeat's real-time news feed. Rinvoq's progress has been a little more circumspect, but almost as impressive. AbbVie Inc. (NYSE:ABBV) posted its earnings results on Thursday, February, 9th. There are currently 9 hold ratings and 7 buy ratings for the stock. 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. RHHBY vs. ABBV: Which Stock Is the Better Value Option? Although the company has admitted that 2023 earnings will likely be down in 2022 - guidance for last year is for earnings per share ("EPS') of $13.84 - $13.88 on an adjusted diluted basis, versus $12.7 in 2021 - Gonzalez and his team were making some bold promises to investors at this year's JP Morgan Healthcare conference. 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. 1 dividend stock for a LIFETIME of income. 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. This included an unfavourable impact of $0.08 a share related to acquired in-process research and development (IPR&D) and milestones expenses incurred during the March quarter. The average Abbvie stock price prediction forecasts a potential upside of 7.07% from the current ABBV share price of $155.27. The average price target represents a 6.33% change from the last price of $153.90. (ABBV), MarketBeat Week in Review 2/13 - 2/17 (ABBV), The 3 Best Pharma Stocks to Buy for Big Gains in 2023 (ABBV), How Abbott Labs, AbbVie Could Profit on Seizure Drug Formula (ABBV), AbbVie Has a Mixed Outlook After Mixed Earnings, Q4 2022 AdTheorent Holding Company Inc Earnings Call. 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. I have plugged my revenue expectations into this table knowing that they closely match AbbVie management's own expectations based on what they have said in public. The dividend payout ratio of AbbVie is 89.56%. I have no business relationship with any company whose stock is mentioned in this article. It's hard to argue against Skyrizi and Rinvoq's performance to date, however, and with the total addressable market across all immunology indications likely well in excess of $100bn, I feel fairly comfortable that AbbVie can grow this division's revenues even as the world's biggest ever selling drug exits stage left. Analysts have tipped the drug to achieve peak sales of $2.75bn, and although the emergence of CAR-T therapies and some concerns around safety - notably cases of cytokine release syndrome ("CRS') - persist, this revenue figure is achievable in my view.