Wall Street Zen Downgrades AbbVie (NYSE:ABBV) to Buy

AbbVie (NYSE:ABBV) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Sunday.

Several other brokerages have also weighed in on ABBV. Morgan Stanley raised their price objective on shares of AbbVie from $270.00 to $278.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Guggenheim reaffirmed a “buy” rating and set a $249.00 price objective on shares of AbbVie in a research report on Friday, May 1st. Piper Sandler raised their price objective on shares of AbbVie from $294.00 to $298.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Barclays initiated coverage on shares of AbbVie in a research report on Thursday, February 19th. They issued an “overweight” rating and a $275.00 price target on the stock. Finally, Canaccord Genuity Group upped their target price on shares of AbbVie from $262.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $253.43.

AbbVie Stock Performance

AbbVie stock opened at $227.68 on Friday. The firm has a market cap of $402.27 billion, a PE ratio of 112.16, a P/E/G ratio of 0.69 and a beta of 0.32. The firm’s 50 day moving average price is $209.85 and its two-hundred day moving average price is $219.36. AbbVie has a twelve month low of $181.73 and a twelve month high of $244.81.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.06. The firm had revenue of $15 billion for the quarter, compared to analyst estimates of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.46 earnings per share. Equities analysts anticipate that AbbVie will post 14.3 EPS for the current fiscal year.

Institutional Investors Weigh In On AbbVie

Several institutional investors and hedge funds have recently bought and sold shares of ABBV. Norges Bank bought a new stake in AbbVie in the 4th quarter valued at $5,865,055,000. Wellington Management Group LLP increased its holdings in AbbVie by 457.4% in the 3rd quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company’s stock valued at $2,439,714,000 after buying an additional 8,646,424 shares during the period. Capital World Investors increased its holdings in AbbVie by 106.3% in the 4th quarter. Capital World Investors now owns 13,071,444 shares of the company’s stock valued at $2,986,777,000 after buying an additional 6,736,161 shares during the period. Cardano Risk Management B.V. increased its holdings in AbbVie by 914.6% in the 4th quarter. Cardano Risk Management B.V. now owns 5,444,930 shares of the company’s stock valued at $1,244,112,000 after buying an additional 4,908,260 shares during the period. Finally, Geode Capital Management LLC increased its holdings in AbbVie by 10.4% in the 4th quarter. Geode Capital Management LLC now owns 44,629,980 shares of the company’s stock valued at $10,179,099,000 after buying an additional 4,190,487 shares during the period. Institutional investors own 70.23% of the company’s stock.

Key Stories Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie’s ovarian cancer drug Elahere received a green light from the UK’s NHS / drug-cost watchdog, improving access and potential sales in a major international market. British drug-cost watchdog recommends use of AbbVie’s ovarian cancer therapy
• Positive Sentiment: AbbVie also won European Commission approval for Aquipta to treat migraine, which could expand the drug’s commercial opportunity in Europe. AbbVie receives EC approval for Aquipta to treat migraine
• Positive Sentiment: AbbVie’s FDA approval of Decnupaz for BPDCN was highlighted as validation of its ADC oncology strategy, reinforcing confidence in the company’s long-term cancer pipeline. Does Decnupaz Approval Validate ABBV’s ADC Strategy in Oncology?
• Positive Sentiment: AbbVie completed a real-world study of upadacitinib in China and finished a bioavailability study for ABBV-932, both of which support ongoing pipeline development. AbbVie Completes Real World Upadacitinib Study in China AbbVie Advances ABBV-932 With Completed Bioavailability Study
• Neutral Sentiment: AbbVie was also featured in value-stock and “cheap stocks” roundups, which may reflect its appeal to investors but are not direct company-specific catalysts. 5 Best Cheap Stocks to Buy for Beginners June 2026’s Top Stocks Estimated Below Intrinsic Value
• Negative Sentiment: AbbVie ended an early lung cancer trial for ABBV-647, which removes one potential upside driver from the oncology pipeline, though the broader impact appears limited. AbbVie Ends Early Lung Cancer Trial for ABBV-647

AbbVie Company Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.