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Venclexta - a "first-in-class BCL-2 inhibitor for multiple hematological malignancies", according to Gonzalez, is forecast for strong growth, whilst Gonzalez has name checked 3 new drugs he expects to be approved by 2026. Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. I'll also share some a forward income statement and discounted cash flow analysis that suggests the present value of AbbVie shares ought to trade as high as $176, implying that shares are presently discounted by as much as 18% to their true worth. AbbVie Inc. is a US-based biopharma company with global operations. Enjoy your holiday weekend and catch up on our most read stories this week. When looking for ABBV stock forecasts, its important to bear in mind that analysts forecasts can be wrong. For full year 2022, Abbvie predicted the adjusted diluted EPS guidance range at $14.00 to $14.20 and $13.92 to $14.12. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities. With the Hughes Optioneering Strategy, youll soon learn that the safest option for new accounts is options themselves! 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. 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. Pharmaceuticals are often valued based on a philosophy of "jam tomorrow" as opposed to jam today i.e. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. AbbVie is led by CEO and Chairman Rick Gonzalez - likely the only Pharma CEO who lacks a college degree - who has successfully defended Humira from generic drug competition by adopting a controversial strategy of continually applying for new patents related to minor changes in manufacturing methods or administration, often referred to as a "patent thicket". 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. Management are very optimistic on Vraylar, with Gonzalez describing it as "now the only antipsychotic that is a dopamine and serotonin partial agonist approved for the treatment of the most common forms of depression, Bipolar 1 and MDD" and targeting >$5bn peak sales. AbbVie probably does not want to be recognized as simply an immunology giant however, it wants to be substantially more diversified and like all major Pharma's it has a strong long-term focus on oncology. According to analysts' consensus price target of $161.12, AbbVie has a forecasted upside of 3.2% from its current price of $156.06. AbbVie declared a quarterly dividend on Thursday, February 16th. Retail sales were up but so was inflation which meant more volatility for stocks. 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. That led to an overall 6% year-on-year gain of 6%, and a 13% sequential gain. Always do your own research on a stocks price performance and predictions before making an investment. This would represent an increase of 1.78%. 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. The division delivered >$1.65bn in sales in Q2'22, up >15% year-on-year, and with Vraylar, Ubrelvy and possibly Qulipta all earmarked for blockbuster sales - $4bn in the case of Vraylar - my forecasting suggests this division could double in size by 2030, from ~$6.6bn revenues generated in FY22, to >$13.5bn by 2030. ET comments That is substantially higher than the 12% CAGR achieved between 2018 - 2022, although that period includes the additional revenues from Allergan. Earnings for AbbVie are expected to decrease by -0.55% in the coming year, from $11.00 to $10.94 per share. Export data to Excel for your own analysis. I am not receiving compensation for it (other than from Seeking Alpha). 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. AbbVie product revenues by quarter and year since FY20. It . Abbvies haematologic oncology portfolio, neuroscience portfolio and aesthetics portfolio reported net revenues of $1.65bn, $1.49bn and $1.37bn, respectively. Venclexta continues to pick up momentum with sales up 16% to >$500m in Q2'22, and I forecast the drug to exceed $3.2bn in revenues by the end of the decade. Disclosure: I/we have a beneficial long position in the shares of ABBV, BMY either through stock ownership, options, or other derivatives. On average, analysts forecast that ABBV's EPS will be $11.80 for 2023, with the lowest EPS . The company reported its first revenue for Botox competitor Daxxify. 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. The company had recorded a $4.7 billion increase in the contingent consideration liability related to Skyrizi last year. Myelofibrosis has proved to be a tricky indication for drug developers and there are no wholly satisfactory solutions on the market at present, therefore if approved I would expect Navitoclax - a drug that AbbVie has been working on for some time - to generate a couple of billion dollars in peak sales. I have speculatively assigned peak sales of $2bn, although it should be noted that success here is far from guaranteed, although if AbbVie did succeed with ABBV916 sales could be 2 or 3x higher than my forecast. 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. In most cases, trials are underway for multiple indications, including some therapies that have already been approved for 1 or more conditions. American Consumer News, LLC dba MarketBeat 2010-2023. The consensus rating was moderate buy based on 16 analysts ratings, with 10 recommending buy, five hold and sell. You should consider whether you understand how CFDs work and can afford the risks. 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. Skyrizi has also been approved to treat Crohn's Disease, an added bonus and another multi-billion dollar market. The company didn't offer a . Finally, AbbVie was able to raise its financial . CFDs are complex leveraged instruments and come with a high risk of losing money. 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. However, there are some general principles that can be followed in order to improve the accuracy of stock price predictions. AbbVie's mailing address is 1 NORTH WAUKEGAN ROAD, NORTH CHICAGO IL, 60064. Shareholders of record on Friday, April 14th will be given a dividend of $1.48 per share on Monday, May 15th. In the next year, analysts expect Free Cash Flow to reach $26.97B - an increase of 58.68%. 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. I hope to see you there. It had an upside potential of 4.76%, based on the closing price of $152.49 on 29 June. One of the few pain points AbbVie experienced during a year of portfolio wide growth in 2022 was the decline in the revenue contribution from Imbruvica, approved to treat various types of lymphoma. Please disable your ad-blocker and refresh. Please. Get 30 Days of MarketBeat All Access Free, Sign in to your free account to enjoy these benefits. 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. The average ABBVIE INC stock forecast 2023 represents a 1.86% increase from the last price of $153.729995727539. AbbVie Aesthetics / Neurology revenues forecasts to 2030 (my table and assumptions) . With Skyrizi and Rinviq - two assets developed in-house - performing so well, however, perhaps we should give management the benefit of the doubt. The company can be reached via phone at (847) 932-7900 or via fax at 302-655-5049. Wallet Investor suggested that the price could hit $300.386 in June 2027. 1 dividend stock for a LIFETIME of income. Build a CFD portfolio with your favourite companies. Drug pricing is another issue - there is bipartisan, and international pressure on US Pharmas to reduce drug pricing, particularly outside of the US. The weighted average cost of capital I estimate to be 9.6% - I tend to use a WACC of 10% for most Big Pharma analysis. Botox accounts for the bulk of the companys Aesthetics portfolio revenue and about 4% of the net as of 2022. 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. Receive ABBV Stock News and Ratings via Email. Without the additional patents - >130 in total - Humira would have lost its market exclusivity in 2016, but having eventually lost protection in Europe, which has resulted in a sales decline from $6.3bn in 2018, to ~$2.7bn in 2022, Humira will finally face generic competition in the US from the beginning of this year. Since then, however, the stock price has fallen 18% to its current price of $142.6. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab. What that means is, essentially it will be on formulary with biosimilars, but there won't be any difference between the biosimilar and Humira from a co-pay standpoint or any kind of a step editing. The consensus among Wall Street research analysts is that investors should "hold" ABBV shares. 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. That makes companies like AbbVie generally very attractive to investors although it should be noted that AbbVie carries a very high level of debt which stood at >$60bn as of Q322 - more or less the amount the company paid to acquire Allergan. There are still very few approved therapies, although that could change with Crispr Therapeutics (CRSP) / Vertex (VRTX) Sickle Cell Disease therapy leading the charge in 2023. Morningstar: 2019 Morningstar, Inc. All Rights Reserved. AbbVie has been increasing its dividend for 51 years. View the best growth stocks for 2023 here. Refer to our. We expect proof-of-concept data from roughly a dozen additional early stage oncology opportunities over the next couple of years. We're currently running a sale at my private investing ideas service, Haggerston BioHealth, where members get access to portfolios, market alerts, real-time chat, and more. All rights reserved. AbbVie has a PEG Ratio of 3.51. The total revenue in 2021 was $56.20 billion with a 31% operating margin. AbbVie Stock Forecast 03-06-2023. Sign-up to receive the latest news and ratings for AbbVie and its competitors with MarketBeat's FREE daily newsletter. But AbbVie is also keen to explore solid tumors, and I am therefore adding an additional $1.5bn of revenues from that source by 2030. The five-year dividend growth rate is just below 18%. AbbVie has been working hard to ensure the 2 drugs it has developed to replace Humira - Skyrizi, which inhibits the pro-inflammatory cytokine IL23, and Rinvoq, a Janus Kinase (enzymes involved in immune cell function) inhibitor - are winning approvals and growing sales in Humira's markets. Our momentum combined with ramping contributions from new products and new indications will drive accelerating revenue and EPS growth through the rest of the year., ABBV has done very well to add to its impressive gains from the past couple of years. The company is focused on research and has a number of collaborations and partnerships to that end. 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. PEG Ratios above 1 indicate that a company could be overvalued. During the same quarter in the prior year, the firm posted $3.31 EPS. GSK Free Cash Flow Forecast for 2023 - 2025 - 2030. Get short term trading ideas from the MarketBeat Idea Engine. 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. View institutional ownership trends. All times are ET. 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". Today, AbbVie operates as a diversified multi-national pharmaceutical company with a patient-centric approach to research. $163.64. 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. When looking for ABBV stock forecasts, it's important to bear in mind that analysts' forecasts can be wrong. ABBV-916 is therefore a real opportunity for AbbVie to develop a more effective and safer drug in the same class and claim a sizeable share of a 6m patient market. Is this happening to you frequently? Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. Payout ratios above 75% are not desirable because they may not be sustainable. The material provided on this website is for information purposes only and should not be understood as an investment advice. Read our dividend analysis for ABBV. The company earns $11.84 billion in net income (profit) each year or $6.61 on an earnings per share basis. Our Product Disclosure Statement (PDS) and Target Market Determination provides important information about our products and who our products are more likely to be suited to Capital.com does not provide financial or investment advice and you should seek independent advice if you are unsure of the risks or whether our products are suitable for you. On average, they expect the company's stock price to reach $161.12 in the next twelve months. I have downgraded my forecasts to 2016 accordingly however to 2% annual growth. We have also launched Skyrizi for PSA in rheumatology, where we're seeing strong utilization, which is driving accelerated share growth. Bringing RGX314 would be a coup for AbbVie although I am forecasting for only $2bn in peak revenues in 2030 as a hedge against the risk that this candidate does not make it to market on safety grounds. The first is Epcoritamab, a CD3xCD20 bispecific for B-cell malignancies, including DLBCL and follicular lymphoma, which AbbVie expects will be approved this year. Most stock quote data provided by BATS. 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. See what's happening in the market right now with MarketBeat's real-time news feed. 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. Naturally, if there is a more effective and safe drug than Humira available for the same indication, then physicians are likely to prescribe it over Humira, or a Humira biosimilar. To see all exchange delays and terms of use please see Barchart's disclaimer. (my tables and forecasting). Over the years, AbbView Inc. has made numerous acquisitions. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. According to CompaniesMarketCap, the biopharmas market capitalisation stood at $272.38bn, making it the worlds 30th most valuable company. In terms of market cap, it ranks third behind Pfizer ( PFE) and Novo Nordisk ( NVO ). That was below AbbVie stock analysts' view for $14.16. AbbVie income statement forecast (My table and assumptions). The pharma industry witnessed solid growth amid the pandemic. 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. 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. AbbVie Fair Value Forecast for 2023 - 2025 - 2030 In the last two years, AbbVie's Price has grown, increasing from $91.55 to $130.05 - an increase of 42.06%. 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. All Rights Reserved. Trading CFDs is high risk and is not suitable for everyone. How often does AbbVie pay dividends? Free Stock Analysis Report: See The True Value of Any Stock, The Best Strategy For Your Small Trading Account. If you have an ad-blocker enabled you may be blocked from proceeding. The company is scheduled to release its next quarterly earnings announcement on Friday, May 5th 2023. You should do your own research and never invest money you cannot afford to lose. AbbVie has been the subject of 9 research reports in the past 90 days, demonstrating strong analyst interest in this stock. See AbbVie Inc. stock price prediction for 1 year made by analysts and compare it to price changes over time to develop a better trading strategy. If you rely on the information on this page then you do so entirely on your own risk. In my opinion, based on the current portfolio, AbbVie shares look undervalued below $160, but the upside above that price is limited, unless management is able to commercialize more products between now and the end of the decade, in order to achieve what looks like a very ambitious goal in driving high-single-digit revenue growth in the second half of this decade. Between September 2021 and April 2022, AbbVie stock went on a sensational bull run, gaining 62% and hitting an all-time peak of $174. Nevertheless, AbbVie is clearly under huge pressure to protect its dominance in the immunology markets, and the signs are it has been able to do just that thanks to the launches of 2 new drugs - Skyrizi and Rinvoq. 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. The company also successfully completed the acquisition of Syndesi Therapeutics SA in March. I/we have a beneficial long position in the shares of ABBV, BMY either through stock ownership, options, or other derivatives. I have been maintaining a revenue forecasting table for AbbVie's products which I have amended based on Q2'22 and H1'22 results, and the slightly downgraded guidance issued for 2022 - management now expects adjusted earnings per share ("EPS") of $13.78 - $13.98, representing growth of 17% at the midpoint. contact@marketbeat.com Investors do not seem to be taking the bait, however, as AbbVie's share price has slipped by >7% across the past month, and >5% across the past 5 days. On the negative side of things, we can see that AbbVie is no longer breaking out sales within its Women's Health division, with revenues lumped into the "all other section, presumably. After creating the income statement I prepare the discounted cash flow/EBITDA multiple analysis. On average, they predict the company's stock price to reach $161.12 in the next year. Upgrade to MarketBeat Daily Premium to add more stocks to your watchlist. Within the oncology division sales of Imbruvica fell 17% year-on-year. The obvious advantages of a "one and done" permanent cure make them potentially very lucrative therapies. The "King Of Quants" sees 10X potential Eric Fry believes he just discovered America's next "Wealth Supercluster" and it's forming in the place you'd least expect. writing - trading down slightly from its all-time high of >$160 achieved in early December last year. Any company is likely to struggle if sales of its best-selling asset begin to decline by ~20% per annum, which is traditionally the rate at which patent expired drugs' sales slip, but when the drug in question accounts for >35% of a company's sales, as Humira does, the situation becomes even more serious. (AbbVie JPM Healthcare conference presentation). I/we have a beneficial long position in the shares of BMY, GILD, ABBV either through stock ownership, options, or other derivatives. ABBV has several positive factors pushing its price performance. 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. Among the many avenues of research and innovation are the advancement of precision medicine or pMedicine. 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 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. AbbVie passed that onto its 2022 guidance. Please disable your ad-blocker and refresh. 164.71 0.00 0.00%. Since its 2013 separation from Abbott Laboratories (ABT 1.78%), AbbVie's stock has grown more than 160%. In the next year, analysts predict that Revenue will reach C$253.83M - an increase of 3.50%. This suggests a possible upside of 3.2% from the stock's current price. Based on earnings estimates, ABBV will have a dividend payout ratio of 54.11% next year. AbbVie is a leading dividend payer. AbbVie Oncology Division Forward Revenue Projections (my table and assumtpions). That figure suggests a forward Price to Earnings ("P/E") ratio of ~10x, which is well below the US Big Pharma sector average of ~23x, although it should be noted that the GAAP/non-adjusted EPS may be only significantly lower than the adjusted figure, based on adjusted EPS of $6.52 across H1'22, and GAAP EPS of $3.03 over the same period. Find the latest AbbVie Inc. (ABBV) stock quote, history, news and other vital information to help you with your stock trading and investing. 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. 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. Not only do these companies pay handsome dividends, they typically grow revenues every year and generate wide profit margins which leads to share price upside. 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. 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. 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.

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