In July 2017, the European Commission (or EC) approved marketing authorization of AbbVie’s (ABBV) Maviret (glecaprevir/pibrentasvir) for a ribavirin-free treatment of individuals with chronic hepatitis C virus (or HCV) infection across genotypes 1–6.
Maviret is under priority review by the FDA (U.S. Food & Drug Administration) and the Japanese Ministry of Health, Labour, and Welfare. AbbVie anticipates approval of Maviret in the United States and Japan by 3Q17. Maviret could face stiff competition from Gilead Sciences’ (GILD) Vosevi, Merck & Co.’s (MRK) Zepatier, and Johnson & Johnson’s (JNJ) Olysio.
AbbVie’s revenue growth could boost the share price of the Health Care Select Sector SPDR ETF (XLV). AbbVie makes up about ~3.7% of XLV’s total portfolio holdings.
Twenty-one analysts were tracking AbbVie in August 2017. Three analysts suggested a “strong buy,” while seven suggested a “buy.” Eleven analysts recommended a “hold,” and none of them suggested a “sell” or “strong sell.”
Around ~48.0% of the analysts recommended some form of a “buy” in August 2017. On August 2, 2017, AbbVie’s mean 12-month target price was $75.56.
Twenty-five analysts were covering Gilead Sciences in August 2017. Around ~44.0% of them recommended some form of a “buy” rating for Gilead Sciences. On August 3, 2017, Gilead Sciences had a mean 12-month target price of $79.68.
Twenty-two analysts were tracking Johnson & Johnson in August 2017. Around ~45.0% of them recommended some form of a “buy” rating. On August 3, 2017, Johnson & Johnson had a mean 12-month target price of $137.05.
Twenty-two analysts were analyzing Merck & Co. in August 2017. Around ~64.0% of them recommended some form of a “buy” rating. On August 3, 2017, Merck & Co. had a mean 12-month target price of $70.