abbvie stock forecast 2030
That is interesting to me as I think it suggests management will need to commercialize more assets if it wants to hit that target. AbbVie has received a consensus rating of Hold. We expect proof-of-concept data from roughly a dozen additional early stage oncology opportunities over the next couple of years. The company is scheduled to release its next quarterly earnings announcement on Friday, May 5th 2023. Top institutional shareholders include Geode Capital Management LLC (1.91%), Morgan Stanley (1.79%), Moneta Group Investment Advisors LLC (1.65%), Price T Rowe Associates Inc. MD (1.15%), Norges Bank (1.06%) and Legal & General Group Plc (0.66%). 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. Botox accounts for the bulk of the companys Aesthetics portfolio revenue and about 4% of the net as of 2022. Neurology also looks strong although aesthetics, eye care and oncology have something to prove. This suggests a possible upside of 3.8% from the stock's current price. AbbVie updated its FY 2024 earnings guidance on Friday, February, 10th. According to AbbVie CEO Rick Gonzalez, speaking on the Q2'22 earnings call, "Skyrizi's total prescription share of the U.S. biological market (in psoriasis) has increased to approximately 26%", and". 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. Abbvie has a strong pipeline of projects ahead, and has recently received US FDA approval of its ulcerative colitis drug Rinvoq. The fact that my own forecasts are less ambitious than management's reflects the fact I have not introduced new products into my forecasts, and it will be interesting to see how management performs on that front as AbbVie has not really had to have a string pipeline while Humira has delivered such dominance in the auto-immune markets. 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. AbbVie made the bold decision to take on a heavy debt load and bid for Allergan, with the deal being completed in 2020. GSK Free Cash Flow Forecast for 2023 - 2025 - 2030. Real-time analyst ratings, insider transactions, earnings data, and more. 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. Over the next nine years, experts believe that GSK's Free Cash Flow will grow at a rate of 1.98%. 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. 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. losed Joint Stock Company FinTech Solutions, Fidelity NASDAQ Composite Index Tracking Stock Fund, Abbvie stock price analysis: Past year performance, Abbvie fundamental analysis: Q1 2022 earnings, Abbvie stock forecast: Company guidance and analysts predictions. ABBV closed at $152.49 on 29 June, which was above its 200-day moving average (MA) of 136.42, indicating a bullish signal for the stocks price movement ahead, according to data from TradingView. The Abbvie stock forecast for 2025 had the price at $259.018. The company didn't offer a . Management initially blamed slow take-up post pandemic for the drug's declining sales, but Gonzalez also told JPM Conference attendees that "new competitive entrants has significantly lowered our sales expectations for Imbruvica". Rinvoq's progress has been a little more circumspect, but almost as impressive. The 21 analysts offering 1 year price forecasts for ABBV have a max estimate of and a min estimate of . First we can take a quick look at what a forward income statement for AbbVie might look like to 2030. 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%. I am not receiving compensation for it (other than from Seeking Alpha). There is no mention of Women's Health in the Q2'22 earnings call or in the 10-Q submission to the SEC, or any of the drugs within it, yet the divisions have not (to the best of my knowledge) been sold, despite rumors it was put up for sale at ~$5bn. While some of the gains are due to investor perception that it is a strong company, some view ABBV as a defensive stock, with most of the other stocks in the sector also doing well. AbbVie saw a increase in short interest in February. Finally, eye-care - another division inherited from Allergan - has been performing well for AbbVie although I am not expecting particularly strong growth from the current product portfolio. Thus, it is likely that ABBV will continue to find support on the dips in this type of market environment.. If you rely on the information on this page then you do so entirely on your own risk. Nineteen analysts predict that AbbVie's share price will increase in the coming year, reaching $165.00. 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. What is Richard A. Gonzalez's approval rating as AbbVie's CEO? (AbbVie data). 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. Between September 2021 and April 2022, AbbVie stock went on a sensational bull run, gaining 62% and hitting an all-time peak of $174. Sales of the drug reached $19.9bn in 2018 and were $19.2bn, $19.8bn and $20.6bn in 2019, 2020, and 2021 respectively. 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. Disclosure: I/we have a beneficial long position in the shares of BMY, GILD, ABBV either through stock ownership, options, or other derivatives. Get daily stock ideas from top-performing Wall Street analysts. The company employs 50,000 workers across the globe. 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. My EPS figure increases slightly between 2022 and 2023, whilst AbbVie has suggested it will be down slightly before beginning to accelerate towards the end of the decade, as revenues correspondingly begin to climb sharply once the worst of the Humira LOE is over. AbbVie stock was up after posting a mixed fourth-quarter earnings report, but with the company's patent expiring on Humira, the stock is a hold, February 24, 2023|americanbankingnews.com, February 23, 2023|americanbankingnews.com. It is a Top 50 Company regarding diversification and a member of the Dow Jones Sustainability World Index and the S&P ESG Index. Shareholders of record on Friday, April 14th will be given a dividend of $1.48 per share on Monday, May 15th. If you have an ad-blocker enabled you may be blocked from proceeding. Perhaps this is an example of how ruthless management can be when encountering falling sales, and a warning that not all company divisions are guaranteed to thrive. Read our dividend analysis for ABBV. A AbbVie Inc. (NYSE:ABBV) insider lowered their holding by 87% earlier this year, These 2 Dividend Stocks Could Be a Great Addition to Your Income Portfolio, AbbVie Can Write Diversified Growth Story Without Humira, Rest Of The Business Has Strength, Analyst Says, AbbVie (NYSE:ABBV) Receives New Coverage from Analysts at Guggenheim, AbbVie to Present at the Cowen 43rd Annual Health Care Conference, AbbVie Receives Positive CHMP Opinion for Upadacitinib (RINVOQ) for the Treatment of Adults with Moderate to Severe Crohn's Disease, AbbVie Highlights Robust Gastroenterology Portfolio with New Analyses and Data in Inflammatory Bowel Diseases at the 18th Congress of European Crohn's and Colitis Organisation (ECCO), 3 Stocks to Buy Right Now That Are Cash Cows, The painfully high price of Humira is patently wrong, AbbVie Inc. (NYSE:ABBV) SVP Sells $4,310,832.64 in Stock, StockNews.com Upgrades AbbVie (NYSE:ABBV) to "Strong-Buy", AbbVie Inc. (NYSE:ABBV) Director Sells $1,505,000.00 in Stock, Azita Saleki-Gerhardt Sells 25,000 Shares of AbbVie Inc. (NYSE:ABBV) Stock, AbbVie and Capsida Biotherapeutics Expand Strategic Collaboration to Develop Targeted Genetic Medicines for Eye Diseases with High Unmet Need, view top-rated stocks among Wall Street analysts, 1 NORTH WAUKEGAN ROAD, NORTH CHICAGO IL, 60064. Finally, AbbVie was able to raise its financial . In this post I model AbbVie product sales to 2030 - including pipeline assets - and use discounted cash flow analysis to calculate a present day share price target. Finally I can present a target price for AbbVie stock in 2023 using DCF / EBITDA analysis. 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. Discovery Company. I am modelling for AbbVie to grow revenues at a compound annual growth rate of ~5% between now and 2030 with growth accelerating in the latter half of the decade. Projections are based on making fundamental and technical studies of the ABBV stock price performance. Retail sales were up but so was inflation which meant more volatility for stocks. Enjoy your holiday weekend and catch up on our most read stories this week. Forecast . I am not receiving compensation for it (other than from Seeking Alpha). This could present more profit potential for drugmakers as well as investors. To summarize, although AbbVie does not have the same clout in oncology as it does in immunology - as evidenced perhaps by the declining sales of Imbruvica - it is clearly an area of focus for management. 67.71% of the stock of AbbVie is held by institutions. The company earns $11.84 billion in net income (profit) each year or $6.61 on an earnings per share basis. Moreover, with surging demand, rising investments in research and development, and increasing e-pharmacy channels, the industry is well-positioned for significant growth New research suggests Depakote ingredient could have a new clinical function. 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. Past performance is no guarantee of future results. As well as the stock price gains AbbVie has always paid a handsome dividend - which has increased by 270% since the Pharma's inception, currently paying $1.48 per quarter, for a current yield of 4% - the highest in the large Pharmaceutical sector. AbbVie's mailing address is 1 NORTH WAUKEGAN ROAD, NORTH CHICAGO IL, 60064. 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. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. View institutional ownership trends. Aurora Cannabis Revenue Forecast for 2023 - 2025 - 2030. Sign-up to receive the latest news and ratings for AbbVie and its competitors with MarketBeat's FREE daily newsletter. As a result I have dropped Imbruvica revenues to just over $3.5bn in 2022 and modelled for a CAGR growth of just 1.5% between then and 2030. 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. I believe AbbVie is likely 15 - 20% undervalued at current price. The official website for the company is www.abbvie.com. 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 above table shows quarterly and annual product revenues going back to FY20, whilst the last 4 columns show revenue growth percentage between FY20 and FY21, then revenue growth between Q2'21 and Q2'22, the sequential (quarter on quarter) growth, followed by product sales as a percentage of revenues. Skyrizi has shown superiority to Humira in fields such as plaque psoriasis by a statistically significant amount, with a comparable safety profile, whilst Rinvoq has shown superiority in e.g. AbbVie is a leading dividend payer. Since then, ABBV stock has decreased by 3.4% and is now trading at $156.06. The risks associated with aesthetics are that the industry can be severely buffeted by economic headwinds, as these products are more consumer focused and are often considered an unnecessary expenditure in times of hardship. Read the conference call transcript. ABBV currently yields 4.1% and has raised its dividend every year since 2013. I take the total revenue figure from each year and plug it into an income statement forecast as follows: AbbVie income statement forecast. The median. 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. 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. What is a Good Dividend Yield? Skyrizi is a collaboration between Boehringer Ingelheim and AbbVie, with AbbVie leading development and commercialisation globally. AbbVie has a PEG Ratio of 3.51. All rights reserved. It pays a dividend yield of 3.83%, putting its dividend yield in the top 25% of dividend-paying stocks. The company had recorded a $4.7 billion increase in the contingent consideration liability related to Skyrizi last year. AbbVie has 5 focus areas for its research and products. That is substantially higher than the 12% CAGR achieved between 2018 - 2022, although that period includes the additional revenues from Allergan. I had felt this could be an issue for Skyrizi and Rinvoq, given it is rare for a drug to be as dominant as Humira was, but although the level of competition is fierce, both drugs are more than meeting expectations, and with the entire auto-immune market worth as much as $45 - $50bn, it does seem possible that Skyrizi and Rinvoq could one day generate >$20bn revenues between them, as management hopes. Finally I can present a target price for AbbVie stock in 2023 using DCF / EBITDA analysis. The first is Epcoritamab, a CD3xCD20 bispecific for B-cell malignancies, including DLBCL and follicular lymphoma, which AbbVie expects will be approved this year. A hold rating indicates that analysts believe investors should maintain any existing positions they have in ABBV, but not buy additional shares or sell existing shares. In the last two years, Aurora Cannabis's Revenue has fallen from C$245.54M to C$245.25M - a 0.12% decrease. AbbVie, like its parent Abbot Laboratories, is a well-established dividend growth stock. Should I buy or sell AbbVie stock right now? 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. The company originated as the bio-pharma segment of Abbott Laboratories and was spun off in late 2012. If you have an ad-blocker enabled you may be blocked from proceeding. 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