Neurology also looks strong although aesthetics, eye care and oncology have something to prove. This would represent an increase of 1.78%. 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. The development of these 2 drugs has been very quick by drug development standards, and to date both have performed exceptionally well. As such, I have decreased my own expectations for 2022 based on simply doubling H1'22 revenues to get a FY22 figure, and downgrading growth expectations to 3% per annum until 2026. I'm on twitter @edmundingham. Fawad Razaqzada, market analyst for City Index and FOREX.com, commenting to Capital.com, said: As of 30 June, analyst ratings compiled by MarketBeat shared different price targets for Abbvie stock. I wrote this article myself, and it expresses my own opinions. 580 employees have rated AbbVie Chief Executive Officer Richard A. Gonzalez on Glassdoor.com. In other words, no Humira, no problem! I/we have a beneficial long position in the shares of BMY, GILD, ABBV either through stock ownership, options, or other derivatives. 16 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for AbbVie in the last year. The company also successfully completed the acquisition of Syndesi Therapeutics SA in March. The company issued revenue guidance of -. You should consider whether you understand how CFDs work and can afford the risks. Finally I can present a target price for AbbVie stock in 2023 using DCF / EBITDA analysis. Sales of the drug reached $19.9bn in 2018 and were $19.2bn, $19.8bn and $20.6bn in 2019, 2020, and 2021 respectively. AbbVie product revenue forecasts to 2030. Read our dividend analysis for ABBV. The following companies are subsidiares of AbbVie: AbbVie (Gibraltar) Holdings Limited, AbbVie (Gibraltar) Holdings Limited Luxembourg S.C.S., AbbVie (Gibraltar) Limited, AbbVie (Pty) Ltd., AbbVie A/S, AbbVie AB, AbbVie AG, AbbVie AS, AbbVie Australasia Holdings Limited, AbbVie B.V., AbbVie Bahamas Ltd., AbbVie Biofarmacevtska druba d.o.o., AbbVie Biopharmaceuticals GmbH, AbbVie Biopharmaceuticals LLC, AbbVie Biopharmaceuticals Ltd., AbbVie Bioresearch Center Inc., AbbVie Biotech Ventures Inc., AbbVie Biotechnology GmbH, AbbVie Biotechnology Ltd, AbbVie Biotherapeutics Inc., AbbVie Biotherapeutics Limited, AbbVie Central Finance B.V., AbbVie Corp, AbbVie Corporation, AbbVie Deutschland GmbH & Co. KG, AbbVie EOOD, AbbVie Endocrine Inc., AbbVie Endocrinology Inc., AbbVie Farmacuticos S.A. de C.V., AbbVie Farmacutica Ltda., AbbVie Finance B.V., AbbVie Finance Corporation, AbbVie Finance LLC, AbbVie GK, AbbVie GmbH, AbbVie Holdings Corporation, AbbVie Holdings Inc., AbbVie Holdings KK, AbbVie Holdings SAS, AbbVie Holdings Unlimited, AbbVie Holdings s.r.o., AbbVie International S. r.l., AbbVie Investments Limited, AbbVie Investments S. r.l., AbbVie Ireland Holdings Limited, AbbVie Ireland NL B.V., AbbVie Ireland Unlimited Company, AbbVie Japan Holdings B.V., AbbVie Kft., AbbVie Komplementr GmbH, AbbVie L.L.C., AbbVie L.da, AbbVie Limited, AbbVie Limited Liability Company, AbbVie Logistics B.V., AbbVie Ltd, AbbVie Ltd., AbbVie Manufacturing Management Limited, AbbVie Nederland Holdings B.V., AbbVie Operations Singapore Pte. The total revenue in 2021 was $56.20 billion with a 31% operating margin. The company has been increasing its dividend for 51 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. 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 Immunology division looks strong, even factoring in the patent cliff faced by $20 billion-selling Humira. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. 16 analysts have issued 12-month price targets for AbbVie's shares. Nevertheless, after applying the discount factor, I calculate a share price target of $151 based on DCF analysis and a slightly higher figure of $168 based on EBITDA analysis. AbbVie has been increasing its dividend for 51 years. 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. Between September 2021 and April 2022, AbbVie stock went on a sensational bull run, gaining 62% and hitting an all-time peak of $174. 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. The surge in revenues can primarily be attributed to its Allergan. The first is Epcoritamab, a CD3xCD20 bispecific for B-cell malignancies, including DLBCL and follicular lymphoma, which AbbVie expects will be approved this year. I/we have a beneficial long position in the shares of ABBV, BMY either through stock ownership, options, or other derivatives. Management has previously stated that it expects total revenues to decline in 2023 following the Humira LOE, followed by a return to growth in 2024, and a "high single digit CAGR" maintained through the remainder of the decade. Let's begin our analysis with the immunology division. AbbVie Oncology Division Forward Revenue Projections (my table and assumtpions). Forecasts shouldnt be used as a substitute for your own research. Payout ratios above 75% are not desirable because they may not be sustainable. AbbVie stock is one of the most well-known pharmaceutical companies. AbbVie made the bold decision to take on a heavy debt load and bid for Allergan, with the deal being completed in 2020. AbbVie says it will pay down debt of $4bn in 2023, which will "bring cumulative debt pay down ~$34bn", but the company is heavily reliant on maintaining an investment grade rating. In 2022, Humira revenues will likely reach $21bn, which will see the drug overtake cholesterol-lowering Lipitor as the best-selling drug of all-time. Most stock quote data provided by BATS. 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. AbbVie has a P/B Ratio of 15.97. I write about Biotech, Pharma and Healthcare stocks and share investment tips. 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. 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. In my model I have then reduced revenues by 20% between 2024 - 2026, and then by 10% per annum between 2027 - 2030. That is substantially higher than the 12% CAGR achieved between 2018 - 2022, although that period includes the additional revenues from Allergan. 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. The company is scheduled to release its next quarterly earnings announcement on Friday, May 5th 2023. The company is focused on research and has a number of collaborations and partnerships to that end. After 2022 Humira's row is shaded yellow to signify patent expiry. The company reported $3.60 EPS for the quarter, topping the consensus estimate of $3.54 by $0.06. There are currently 9 hold ratings and 7 buy ratings for the stock. Build a CFD portfolio with your favourite companies. Pessimistic target level: 151.42 Optimistic target level: 154.48 ABBV (ABBV) Monthly Stock Prediction for 2023 Full forecast for 2023 AbbVie forecast for this year Shares are consolidating with a buy. Skyrizi is a collaboration between Boehringer Ingelheim and AbbVie, with AbbVie leading development and commercialisation globally. The lowest target is $136.35 and the highest is $210. 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. 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. 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. 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. (ABBV) AbbVie Stock Predictions from the Leading Provider of Short and Long Term Stock Price Forecasts. Retail sales were up but so was inflation which meant more volatility for stocks. 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. The company's average rating score is 2.44, and is based on 7 buy ratings, 9 hold ratings, and no sell ratings. Over the next nine years, experts believe that GSK's Free Cash Flow will grow at a rate of 1.98%. Richard A. Gonzalez has an approval rating of 88% among the company's employees. And with a dividend yield of 4.9%, AbbVie is quite attractive for investors yearning for . ET comments 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. Payout ratios above 75% are not desirable because they may not be sustainable. Date. Abbvies first quarter 2022 financial results for the quarter ended 31 March revealed that diluted earnings per share (EPS) increased to $2.51 on a generally accepted accounting principles (GAAP) basis, up from $1.99 a year earlier. Between September 2021 and April 2022, AbbVie stock went on a sensational bull run, gaining 62% and hitting an all-time peak of $174. View our ABBV earnings forecast. Epcoritamab alone will not be sufficient to get AbbVie where it wants to be - despite some analysts believing it will be the highest grossing Pharma revenue wise by 2026. AbbVie will have to drop its price point to compete with the generics however, plus there is the 10% of the market it is not covered for, so an overall 20% decline in revenues in 2023 seems accurate. z o.o., AbbVie Spain S.L., AbbVie Stemcentrx LLC, AbbVie Trading S.R.L., AbbVie Trustee Company Limited, AbbVie Tbbi lalar Sanayi ve Ticaret Limited irketi, AbbVie UAB, AbbVie UK Biopharmaceuticals Ltd, AbbVie UK Holdco Limited, AbbVie UK Ltd, AbbVie US Holdings LLC, AbbVie US LLC, AbbVie Venezuela B.V., AbbVie Venezuela Holdings B.V., AbbVie Ventures LLC, AbbVie d.o.o., AbbVie s.r.o., Aeropharm Technology LLC, Allergan, BioDisplay Technologies Inc., Fournier Laboratories Ireland Ltd., Fremont Holding L.L.C., Fundacin AbbVie, IEP Pharmaceutical Devices LLC, ImmuVen, KOS Pharmaceuticals Inc., Knoll LLC, Knoll Pharmaceutical Company, Life Properties Inc., Mavupharma, Organics L.L.C., Pharmacyclics (Europe) Limited, Pharmacyclics (Shanghai) Management Consulting Services Limited, Pharmacyclics Cayman Ltd., Pharmacyclics Inc, Pharmacyclics LLC, Pharmacyclics Switzerland GmbH, Rowell Laboratories Inc., S.C. AbbVie S.R.L., Sapphire Merger Sub Inc., Stem CentRx, Stemcentrx Cayman Ltd., Suffolk Merger Sub Inc., and Unimed Pharmaceuticals LLC.
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