After 2022 Humira's row is shaded yellow to signify patent expiry. Allergan plc was an Ireland-based pharmaceutical company focused on health-oriented aesthetic products and is the owner of Botox. My calculation is that Humira revenues in 2023 will be 80% of the 2022 figure, or $16.7bn. The average price target represents a 6.33% change from the last price of $153.90. Outside of Humira, management does not have to worry about LOEs for any of its other portfolio products before the end of the decade, which is encouraging, however, based on my own projections of how AbbVie will generate its revenues between 2023 and 2030, if management wants to drive a CAGR in the high single digits after 2025, it will need some help from its pipeline - not an area of particular strength for AbbVie. A major reason behind Abbvies stellar performance amid the ongoing economic crises is the resolution of the companys Humira (adalimumab) litigation with Alvotech in March 2022. Shareholders of record on Friday, April 14th will be given a dividend of $1.48 per share on Monday, May 15th. . There is an element of risk to that as clinical trial failures are common, even for a giant like AbbVie, and even CEO Gonzalez may be forced to backtrack on some of his blockbuster sales projections. If you have an ad-blocker enabled you may be blocked from proceeding. For ABBVIE INC stock forecast for 2023, 10 predictions are offered for each month of 2023 with average ABBVIE INC stock forecast of $156.58, a high forecast of $160.07, and a low forecast of $152.24. AbbVie's mailing address is 1 NORTH WAUKEGAN ROAD, NORTH CHICAGO IL, 60064. 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%. Having so much debt in a prevailing inflationary environment is also unattractive. Based on our forecasts, a long-term increase is expected, the "ABBV" stock price prognosis for 2028-02-23 is 287.522 USD. The review period was extended by three months in order for the FDA to review additional data submitted by AbbVie. Gonzalez has vigorously defended AbbVie against accusations of price manipulation, but the company is renowned for pushing drug prices up annually and should its powerful lobbies become less powerful in the face of external pressure, once again, the sector will start to look unattractive for investors. The Immunology division looks strong, even factoring in the patent cliff faced by $20 billion-selling Humira. 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. 16 analysts have issued 12-month price targets for AbbVie's shares. My No. Botox accounts for the bulk of the companys Aesthetics portfolio revenue and about 4% of the net as of 2022. The companys operations span 20 countries, treating more than 60 million people and 40 conditions annually. Analysts have tipped the drug to achieve peak sales of $2.75bn, and although the emergence of CAR-T therapies and some concerns around safety - notably cases of cytokine release syndrome ("CRS') - persist, this revenue figure is achievable in my view. 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%. call (03) 8658 0539 support.au@capital.com. As such, forecasting stock prices is more of an art than a science. (AbbVie JPM Healthcare conference presentation). The lowest target is $136.35 and the highest is $210. I wrote this article myself, and it expresses my own opinions. (my tables). The company earns $11.84 billion in net income (profit) each year or $6.61 on an earnings per share basis. AbbVie is a leader in ESG and sustainability. Based on an average daily volume of 5,600,000 shares, the days-to-cover ratio is currently 2.1 days. The shining star in the aesthetics business is Botox, which increased sales by 45% year over year to $477 million in the first quarter of 2021. 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. I'm on twitter @edmundingham. The analysts 12-month consensus ABBV stock price target was $159.75. This year is off to a strong start. 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. 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. 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. See AbbVie Inc. (ABBV) stock analyst estimates, including earnings and revenue, EPS, upgrades and downgrades. Abbvie has a strong pipeline of projects ahead, and has recently received US FDA approval of its ulcerative colitis drug Rinvoq. Abbvie stock price has put up an impressive performance in 2022. The company had recorded a $4.7 billion increase in the contingent consideration liability related to Skyrizi last year. 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. On average, analysts rate AbbVie stock as a buy. Over the next nine years, experts believe that GSK's Free Cash Flow will grow at a rate of 1.98%. AbbVie is a leading dividend payer. Other approved ADC's targeting the c-Met protein, a validated target in NSCLC, include Novartis Tabrecta, which has been pegged for peak sales of ~$1.5bn, which seems a realistic target for Teliso given how large the lung cancer market is - the largest of all oncology markets. Enjoy your holiday weekend and catch up on our most read stories this week. Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. All Rights Reserved. AbbVie has a PEG Ratio of 3.51. Investors needn't panic however - Humira's replacements are expected by AbbVie's CEO to generate even higher revenues per annum. 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. That was below AbbVie stock analysts' view for $14.16. (ABBV) AbbVie Stock Predictions from the Leading Provider of Short and Long Term Stock Price Forecasts. AbbVie saw a increase in short interest in February. Price target. Excluding items, AbbVie earned $3.31 per share, beating estimates of $3.29 . With Skyrizi and Rinviq - two assets developed in-house - performing so well, however, perhaps we should give management the benefit of the doubt. 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. MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation. ET comments Different trading strategies will suit different investment goals with short or long-term focus. AbbVie has said it expects to generate high-single-digit CAGR growth from 2025 to the end of the decade after revenues fall in 2023 due to Humira LOE. 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. Gene therapies have been a long time coming, having first been popularized in the early noughties. Negative dynamics for AbbVie shares will prevail with possible volatility of 1.976%. When looking for ABBV stock forecasts, its important to bear in mind that analysts forecasts can be wrong. AbbVie product revenue forecasts to 2030. The company reported its first revenue for Botox competitor Daxxify. Johnson & Johnson Free Cash Flow Forecast for 2023 - 2025 - 2030. The average Abbvie stock price prediction forecasts a potential upside of 7.07% from the current ABBV share price of $155.27. I am not receiving compensation for it (other than from Seeking Alpha). View AbbVie's Short Interest. According to analysts' consensus price target of $161.12, AbbVie has a forecasted upside of 3.2% from its current price of $156.06. Johnson & Johnson is rushing toward a patent cliff but a new shelf offering registration suggests itis gearing up for acquisitions. Richard A. Gonzalez has an approval rating of 88% among the company's employees. 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. RHHBY vs. ABBV: Which Stock Is the Better Value Option? ABBV has several positive factors pushing its price performance. CNN Sans & 2016 Cable News Network. Shares of ABBV stock can be purchased through any online brokerage account. Only 0.08% of the stock of AbbVie is held by insiders. Payout ratios above 75% are not desirable because they may not be sustainable. Having dived into the numbers however and looked ahead to 2030 through the eyes and guidance of management, my conclusion is that investors can probably buy AbbVie stock at current price with reasonably high hopes of making a decent ROI - perhaps 15 - 20% in the next 12 - 18 months, whilst also benefiting from a generous dividend. 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. Other profitable therapies include but are not limited to SKYRIZI for psoriasis, RINVOQ for rheumatoid arthritis and IMBRUVICA and VENCLEXTA for chronic leukemia conditions. AbbVie has 5 focus areas for its research and products. I have plugged my revenue expectations into this table knowing that they closely match AbbVie management's own expectations based on what they have said in public. What other stocks do shareholders of AbbVie own? With AbbVie seemingly very confident of approvals for all 3 of these drugs, and Gonzalez suggesting they could form the basis of a "$6 billion kind of franchise" I have modelled for such an outcome by 2030. 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. And never invest or trade money you cannot afford to lose. View institutional ownership trends. In my model I have then reduced revenues by 20% between 2024 - 2026, and then by 10% per annum between 2027 - 2030. That led to an overall 6% year-on-year gain of 6%, and a 13% sequential gain. The consensus rating was moderate buy based on 16 analysts ratings, with 10 recommending buy, five hold and sell. The consensus among Wall Street research analysts is that investors should "hold" ABBV shares. Abbvie Stock Forecast 2023 In the Biopharmaceutical Industry, Abbvie has been able to create a leadership position in the market in each business segment with different brand names in different business categories like Immunology, Hematologic Oncology, Neuroscience, Aesthetics, and Eye Care. In most cases, trials are underway for multiple indications, including some therapies that have already been approved for 1 or more conditions. The 21 analysts offering 12-month price forecasts for Abbvie Inc have a median target of 165.00, with a high estimate of 200.00 and a low estimate of 135.00. Is this happening to you frequently? 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. The company projects the U.S. toxin market (where Botox is the top product) will decline by mid-single digits. If you rely on the information on this page then you do so entirely on your own risk. As we can see the immunology division consists of only 3 assets yet by my calculation, will likely account for 50% of AbbVie's revenues in 2022 (to calculate 2022 sales revenues by product, since we do not yet have final figures, I have used 9m 2022 figures and assumed Q4 revenues will be the average of the previous 3 quarters). It is important to do your own research, and remember that your decision to trade depends on your attitude to risk, your expertise in the market, the spread of your investment portfolio and how comfortable you feel about losing money. The development of these 2 drugs has been very quick by drug development standards, and to date both have performed exceptionally well. According to the algorithm-based forecaster Wallet Investor in its Abbvie stock forecast for 2022, the price could reach $169.852 by the end of December, $199.491 by 2023 and $229.304 by 2024. The acquisition expanded AbbVies neuroscience portfolio, adding first-in-class modulators of the synaptic vesicle protein 2A, including lead molecule SDI-118 currently in Phase 1b studies. Morningstar: 2019 Morningstar, Inc. All Rights Reserved. I also considered the long-term outlook for a company that is still only 10 years old and is about to feel the impact of a loss of patent protection for its mega-blockbuster auto-immune drug Humira, which made $20.7bn of sales for the company in FY21, representing 37% of total revenues generated. The stocks growth marks a significant outperformance over the broader markets. Aurora Cannabis Revenue Forecast for 2023 - 2025 - 2030. During the same quarter in the prior year, the firm posted $3.31 EPS. 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". 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. Although investing in AbbVie isn't riskless, it is advisable based on what we know about the company. Read the conference call transcript. To date, the company had invested more than $50 billion into research through more than 250 partnerships. 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. 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. Post-spin, AbbVie emerged as a research-based biopharma that has more than doubled in size. 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. 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. The company originated as the bio-pharma segment of Abbott Laboratories and was spun off in late 2012. 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. 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. Abbvies haematologic oncology portfolio, neuroscience portfolio and aesthetics portfolio reported net revenues of $1.65bn, $1.49bn and $1.37bn, respectively. 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. Based on earnings estimates, ABBV will have a dividend payout ratio of 54.11% next year. 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. 326 E 8th St #105, Sioux Falls, SD 57103 Net earnings also saw a steep rise to $4.49bn from $3.55bn, while net revenue jumped to $13.54bn from 13.01bn. The major market events for the week ahead right in your inbox. In the past three months, AbbVie insiders have sold more of their company's stock than they have bought. 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. Data from two Phase 3 induction studies and one maintenance study supported the approval. In 2022, the company will most likely boast 12 "blockbuster" (>$1bn per annum) selling assets, driving ~$48bn of revenues between them, with Humira being the only drug that faces a near term patent expiry, whilst AbbVie is promising at least 6 or 7 major new product launches by 2026. The company didn't offer a . (my tables and forecasting). Since its 2013 separation from Abbott Laboratories (ABT 1.78%), AbbVie's stock has grown more than 160%. Below, I will outline how I see AbbVie putting the Humira LOE firmly behind it, and driving the high single digit percentage annual growth management has promised. AbbVie made the bold decision to take on a heavy debt load and bid for Allergan, with the deal being completed in 2020. 8.05% The median estimate represents a +5.72% increase from the last price of 156.07. The company can be reached via phone at (847) 932-7900 or via fax at 302-655-5049. Based on aggregate information from My MarketBeat watchlists, some companies that other AbbVie investors own include Intact Financial (IFC), Constellation Software (CSU), AutoCanada (ACQ), Alimentation Couche-Tard (ATD.B), Vermilion Energy (VET), AT&T (T), Bristol-Myers Squibb (BMY), Wheaton Precious Metals (WPM), Rogers Communications (RCI) and Open Text (OTEX). 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. 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. If you have an ad-blocker enabled you may be blocked from proceeding. I believe AbbVie is likely 15 - 20% undervalued at current price. Please disable your ad-blocker and refresh. AbbVie says it will pay down debt of $4bn in 2023, which will "bring cumulative debt pay down ~$34bn", but the company is heavily reliant on maintaining an investment grade rating. Bhd., AbbVie Sp. Upgrade to MarketBeat Daily Premium to add more stocks to your watchlist. contact@marketbeat.com I write about Biotech, Pharma and Healthcare stocks and share investment tips. All times are ET. Note that analysts ABBV stock forecasts can be wrong. psoriatic arthritis at a lower dose, again with a comparable safety profile, and has also won approval in a field where Humira has not, namely Atopic Dermatitis. We're currently running a sale at my private investing ideas service, Haggerston BioHealth, where members get access to portfolios, market alerts, real-time chat, and more. AbbVie declared a quarterly dividend on Thursday, February 16th. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. Fawad Razaqzada, market analyst for City Index and FOREX.com, commenting to Capital.com, said: As of 30 June, analyst ratings compiled by MarketBeat shared different price targets for Abbvie stock. AbbVie could be the biggest global Pharma by revenue generation in 2028. 580 employees have rated AbbVie Chief Executive Officer Richard A. Gonzalez on Glassdoor.com. (AbbVie data). Please log in to your account or sign up in order to add this asset to your watchlist. Finally I can present a target price for AbbVie stock in 2023 using DCF / EBITDA analysis. As of 2023 February 22, Wednesday current price of ABBV stock is 151.340$ and our data indicates that the asset price has been in an uptrend for the past 1 year (or since its inception).. Abbvie stock price as been showing a rising tendency so we believe that similar market segments were very popular in the given time frame. I am not receiving compensation for it (other than from Seeking Alpha). AbbVie's stock was trading at $161.61 on January 1st, 2023. Please disable your ad-blocker and refresh. On average, analysts forecast that ABBV's EPS will be $11.80 for 2023, with the lowest EPS . 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. This rating has held steady since February, when it was unchanged from a Buy rating.Move your mouse over pastmonths for detail.
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