Share price movements
On January 25, AbbVie (ABBV) closed at $80.54, which is 6.22% lower than its previous closing price. The steep drop came as a reaction to the company’s Q4 2018 and fiscal 2018 results released on January 25. AbbVie closed at a premium of 3.92% as compared to its 52-week low price of $77.50, and at a discount of 36.01% as compared to its 52-week high price of $125.86. As of January 25, AbbVie’s market capitalization was $121.70 billion. The company is trading at a trailing PE ratio of 15.86x and a forward PE ratio of 9.26x.
Based on its closing price on January 25, the company reported returns of -7.64% in the last week, -4.30% in the last month, and -2.92% in the last quarter. AbbVie also reported returns of -13.51% in the last half year, -23.67% in the last year, and -12.64% YTD.
Based on its closing price on January 25, the broader biotechnology sector represented by the iShares Nasdaq Biotechnology ETF (IBB) reported returns of -0.32% in the last week, 22.13% in the last month, and 0.32% in the last quarter. IBB also reported returns of -8.29% in the last half year, -5.57% in the last year, and 13.49% YTD. AbbVie has significantly underperformed IBB in 2019 YTD.
Analysts’ recommendations and target price
Out of the 18 analysts covering AbbVie on January 27, three analysts have rated the company as a “strong buy,” three analysts have rated the company as a “buy,” nine analysts have rated the company as a “hold,” two analysts have rated the company as a “sell,” and one analyst has rated the company as a “strong sell.”
The 12-month consensus analyst recommendation for AbbVie on January 27 is a “hold.” The 12-month consensus target price for the company is $95.47, which is 18.54% higher than its last closing price on January 25. The highest, median, and lowest target price estimates for the company are $130, $90, and $71, respectively.
In the next article, we will discuss the revenue performance of AbbVie for fiscal 2018.