This suggests a possible upside of 3.2% from the stock's current price. ABBV-916 is targeting Alzheimer's and it is an anti-amyloid antibody, with a similar mechanism of action ("MoA") to recently approved Leqembi, developed by Biogen (BIIB) / Eisai, and likely soon-to-be approved Donanemab, developed by Eli Lilly. Earnings for AbbVie are expected to decrease by -0.55% in the coming year, from $11.00 to $10.94 per share. 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. It is generally accepted however that 2023 will see the entrants into the US market of several generic versions of Humira - which works by inhibiting Tumor Necrosis Factor ("TNF"), an inflammation causing protein - from the likes of Viatris (VTRS), Organon (OGN), Pfizer (PFE), Amgen (AMGN), and several more companies involved in the development and sale of generic or biosimilar drugs. 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). The company is a member of the Fortune 100 and one of the Fortune 100s Best Companies To Work For. 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. 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. 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. As of 2022, AbbVie employed more than 50,000 people globally with 21,000 in STEM-related positions. Forecast . (AbbVie data). 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. Duodopa is approved for Parkinson's Disease but Gonzalez believes that the subcutaneous non-surgical delivery system of candidate ABBV951 can "significantly expand the patient population currently addressed by Duopa", and sees the drug as yet another future blockbuster. As such I have modelled similar, although I have included an additional revenue stream from new products which I expect to be minor in nature but ultimately contributing an additional $1.5bn to the top line. As we can see, as per management's guidance revenues fall between 2022 and 2023, before recovering and growing in each year after. (ABBV) AbbVie Stock Predictions from the Leading Provider of Short and Long Term Stock Price Forecasts. How do I arrive at my share price target? 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. 67.71% of the stock of AbbVie is held by institutions. In most cases, trials are underway for multiple indications, including some therapies that have already been approved for 1 or more conditions. 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. 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. 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. In my model I have then reduced revenues by 20% between 2024 - 2026, and then by 10% per annum between 2027 - 2030. 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. The companys original winner, Humira, is still the number one revenue source but the portfolio has been greatly expanded. As per management's guidance, I am modelling for $5.7bn of revenues in 2023, with growth beginning to accelerate substantially from 2025 / 26 onwards. Drug pricing is another issue - there is bipartisan, and international pressure on US Pharmas to reduce drug pricing, particularly outside of the US. All generate blockbuster <$1bn per annum sales - in Stelara's case >$9bn per annum, and in Enbrel's case, >$4.5bn. AbbVie's post-Humira LOE plans are not riskless, and its targets are ambitious, but nevertheless I see no harm in picking up shares in the Pharma at the current price, accepting a generous 4% dividend, and likely benefitting from share repurchases and a steadily growing share price until 2030. Investors are already flocking there for a chance at 1,000%+ returns. As with debt, if approval and revenue targets aren't met, it can quickly result in a loss of faith in the company. 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. What other stocks do shareholders of AbbVie own? PMeds are designed not only to target the specific causes of diseases, often at the genetic level, but the patients that are most likely to benefit from them. I have no business relationship with any company whose stock is mentioned in this article. The median estimate represents a +5.72% increase from the last price of 156.07. 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. Always conduct your own due diligence before investing. If you have an ad-blocker enabled you may be blocked from proceeding. Get 30 Days of MarketBeat All Access Free, Sign in to your free account to enjoy these benefits. 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. Only 0.08% of the stock of AbbVie is held by insiders. 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. Neuroscience is one of AbbVie's most intriguing divisions and perhaps the hardest to model. 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. The company's average rating score is 2.44, and is based on 7 buy ratings, 9 hold ratings, and no sell ratings. It is in business to discover, develop, manufacture and market pharmaceuticals globally but in a way that best serves the needs of patients and the global community. The company reported $3.60 EPS for the quarter, topping the consensus estimate of $3.54 by $0.06. 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. On average, analysts forecast that ABBV's EPS will be $11.80 for 2023, with the lowest EPS . Is this happening to you frequently? Disclosure: I/we have a beneficial long position in the shares of BMY, GILD, ABBV either through stock ownership, options, or other derivatives. 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. The company earns $11.84 billion in net income (profit) each year or $6.61 on an earnings per share basis. In terms of market cap, it ranks third behind Pfizer ( PFE) and Novo Nordisk ( NVO ). The first is Epcoritamab, a CD3xCD20 bispecific for B-cell malignancies, including DLBCL and follicular lymphoma, which AbbVie expects will be approved this year. You should consider whether you understand how CFDs work and can afford the risks. Richard A. Gonzalez has an approval rating of 88% among the company's employees. Insiders that own company stock include Azita Saleki-Gerhardt, Brian L Durkin, Carlos Alban, Carrie C Strom, Carrie C Strom, Elaine K Sorg, Henry O Gosebruch, Jeffrey Ryan Stewart, Laura J Schumacher, Michael Severino, Perry C Siatis, Richard A Gonzalez, Robert A Michael, Roxanne S Austin, Scott T Reents, Timothy J Richmond and Timothy J Richmond. My No. I am not receiving compensation for it (other than from Seeking Alpha). AbbVie (NYSE:ABBV) has a market capitalization of $276.13 billion and generates $58.05 billion in revenue each year. The company reported its first revenue for Botox competitor Daxxify. 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. I/we have a beneficial long position in the shares of BMY, GILD, ABBV either through stock ownership, options, or other derivatives. The analysts 12-month consensus ABBV stock price target was $159.75. AbbVie has a PEG Ratio of 3.51. The average ABBVIE INC stock forecast 2023 represents a 1.86% increase from the last price of $153.729995727539. When looking for ABBV stock forecasts, it's important to bear in mind that analysts' forecasts can be wrong. 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. This indicates that AbbVie will be able to sustain or increase its dividend. Disclaimer. The company issued revenue guidance of -. We now expect global sales for Skyrizi to reach more than $10 billion in 2025, an increase of $2.5 billion versus our previous guidance, reflecting higher performance across basically all of the indications. The company can be reached via phone at (847) 932-7900 or via fax at 302-655-5049. With no LOEs on the horizon, it is relatively plain sailing for the company ex-Humira, and the performance of Skyrizi and Rinvoq - to date at least - suggests management does have this massive patent cliff covered. Should I buy or sell AbbVie stock right now? If you have an ad-blocker enabled you may be blocked from proceeding. It revealed that patients with moderate to severe Crohns disease receiving Abbvies Rinvoq achieved steroid-free clinical remission in significantly higher numbers than patients receiving a placebo. Between September 2021 and April 2022, AbbVie stock went on a sensational bull run, gaining 62% and hitting an all-time peak of $174. 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. Sign-up to receive the latest news and ratings for AbbVie and its competitors with MarketBeat's FREE daily newsletter. . The CEO, speaking at a fireside chat during the conference, commented: we remain well-positioned to absorb the impact from the Humira LOE and quickly return to strong growth starting in 2025. I have downgraded my forecasts to 2016 accordingly however to 2% annual growth. Multidrug Resistant Bacteria Treatment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2030) Published: March 2, 2023 at 2:55 a.m. That is a significant difference because at a forward P/E of 10x AbbVie stock looks like a solid buy opportunity, but at a P/E of 20x, when we consider the risk/challenge of Humira's LOE, prospective investors may prefer to maintain a watching brief as opposed to opening a position.