abbvie stock forecast 2030
Their combined revenues are expected to reach $7.5bn in 2022, and Gonzalez told the audience at JPM that: Skyrizi and Rinvoq are now on pace to deliver more than $17.5 billion in combined sales, risk adjusted sales in 2025, well above our previous expectations. The company didn't offer a . These are mostly related to the US Food and Drug Administrations (FDA) approval of Abbvies drug Rinvoq for ulcerative colitis and positive top-line results from the Phase 3 induction study U-EXCEL. View the best growth stocks for 2023 here. The Large Pharma sector performed remarkably well in 2022, with the "Big 8" delivering an average ~15% gain whilst the S&P 500 index fell in value, and the biotech sector was in turmoil. Receive regular, detailed analysis focused on biotech and healthcare 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. In my model I have then reduced revenues by 20% between 2024 - 2026, and then by 10% per annum between 2027 - 2030. . The company is focused on research and has a number of collaborations and partnerships to that end. I/we have a beneficial long position in the shares of ABBV, BMY either through stock ownership, options, or other derivatives. 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. These products are not suitable for everyone and you should therefore consider your objectives, financial situation, needs and experience with these products before investing in them. Other products such as Mavyret and Creon appear to have many more years of blockbuster sales ahead of them, although it is interesting to note that AbbVie no longer reports revenues from its Women's Health division, and scarcely mentions it. The company can be reached via phone at (847) 932-7900 or via fax at 302-655-5049. For full year 2022, Abbvie predicted the adjusted diluted EPS guidance range at $14.00 to $14.20 and $13.92 to $14.12. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Forecasts shouldnt be used as a substitute for your own research. AbbVie declared a quarterly dividend on Thursday, February 16th. 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. 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. ABBV has several positive factors pushing its price performance. AbbVie, like its parent Abbot Laboratories, is a well-established dividend growth stock. 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. 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. What is AbbVie's stock price forecast for 2023? Based on our forecasts, a long-term increase is expected, the "ABBV" stock price prognosis for 2028-02-23 is 287.522 USD. In the U.S. dermatology segment, where approximately 30% of patients exhibit both skin and joint involvement, Skyrizi is already achieving an in-play patient share of nearly 20%. 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. If you have an ad-blocker enabled you may be blocked from proceeding. 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. Morningstar: 2019 Morningstar, Inc. All Rights Reserved. View analysts price targets for ABBV or view top-rated stocks among Wall Street analysts. What intrigues here is the possibility of RGX-314, an anti-VEGF gene therapy that Gonzalez believes "has the potential to be a one-time treatment for wet AMD, diabetic retinopathy and other chronic retinal conditions". 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. (my tables and forecasting). AbbVie's Q2'22 earnings threw up some positives and negatives for investors to contemplate. There are currently 9 hold ratings and 7 buy ratings for the stock. 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. Compare Top Brokerages Here. 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. In the last two years, Aurora Cannabis's Revenue has fallen from C$245.54M to C$245.25M - a 0.12% decrease. If youre new to trading, then youve probably heard the wrong thing about optionsthat theyre risky, unpredictable, or difficult. 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". 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. As of February 15th, there was short interest totaling 11,710,000 shares, an increase of 13.7% from the January 31st total of 10,300,000 shares. The firm's revenue for the quarter was up 1.6% compared to the same quarter last year. 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). Please disable your ad-blocker and refresh. For the next eight years, the forecast is for Free Cash Flow to grow by . First we can take a quick look at what a forward income statement for AbbVie might look like to 2030. All Rights Reserved. In general, it is important to pay attention to trends, both in the overall market and in the specific sector that a company is in. The company is a member of the Fortune 100 and one of the Fortune 100s Best Companies To Work For. View ABBV analyst ratings or view top-rated stocks. Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. Between September 2021 and April 2022, AbbVie stock went on a sensational bull run, gaining 62% and hitting an all-time peak of $174. See what's happening in the market right now with MarketBeat's real-time news feed. The other major plus is probably the performance of the neuroscience divisions, where as we can see, Botox (indicated for migraine treatment), atypical antipsychotic Vraylar, migraine therapy Ubrelvy and newly launched Qulipta, an oral CGRP inhibitor indicated for chronic migraine all delivered good sales growth. 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%. Assuming there are 2 highly effective drugs for 1 disease, PMedicine seeks to identify which patients respond better to each. Multidrug Resistant Bacteria Treatment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2030) Published: March 2, 2023 at 2:55 a.m. AbbVie has been increasing its dividend for 51 years. 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. AbbVie Stock Forecast 2023 $165.00 In the last five quarters, AbbVie's Price Target has risen from $122.84 to $162.12 - a 31.98% increase. $163.64. I have no business relationship with any company whose stock is mentioned in this article. Our daily ratings and market update email newsletter. Snowflake Reports Weak Guidance: Is the Growth Snowflake Melting? For the next nine years, the forecast is for Revenue to grow by 3.57%. 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. As with debt, if approval and revenue targets aren't met, it can quickly result in a loss of faith in the company. It . You should consider whether you understand how CFDs work and can afford the risks. View AbbVie's Short Interest. AbbVie's mailing address is 1 NORTH WAUKEGAN ROAD, NORTH CHICAGO IL, 60064. 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. In other words, no Humira, no problem! 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. I hope to see you there. AbbVie stock forecast 2022 - 2025 - 2030 with analysis AbbVie stock stood at $162.110000610352 on 2022-03-31. forecast for 2023 is $159.42, forecast for 2024 is $156.65, forecast for 2025 is $139.68, forecast for 2026 is $124.48, Build a CFD portfolio with your favourite companies. Armed with management's detailed guidance and commentary on sales performance of key assets and new product launches, however, I have completed sales projections for AbbVie to 2030, which I will share in this post, highlighting areas of strength and potential weaknesses. z o.o., AbbVie Productos Farmacuticos Limitada, AbbVie Products LLC, AbbVie Promoo L.da, AbbVie Pte. 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. (ABBV) AbbVie Stock Predictions from the Leading Provider of Short and Long Term Stock Price Forecasts. The stock projection varied from the low price target of $135 to the high of $200. According to 23 major analysts, AbbVie's Fair Value will fall by 5.43% in the next year, reaching $122.98. If you rely on the information on this page then you do so entirely on your own risk. Johnson & Johnson Free Cash Flow Forecast for 2023 - 2025 - 2030. The lowest target is $136.35 and the highest is $210. As of 30 June, analysts price predictions compiled by MarketBeats and long-term forecasts by Wallet Investor projected that the ABBV stock price could rise. Read the conference call transcript. The risks associated with aesthetics are that the industry can be severely buffeted by economic headwinds, as these products are more consumer focused and are often considered an unnecessary expenditure in times of hardship. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. 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 company's lead asset - all-time best selling immunology drug Humira - finally loses patent protection this year and sales will enter a period of terminal decline. Eye Care, Other products Division Projected Revenues to 2030 (my table and assumptions ). 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 eye-disease markets are very large - Regeneron's Eylea is a >$7bn per annum selling drug and AMD markets are >$20bn in size. Their ABBV share price forecasts range from $140.00 to $200.00. And we remain confident in our ability to achieve total sales of more than $9 billion by 2029. The company reported $3.60 EPS for the quarter, topping the consensus estimate of $3.54 by $0.06. In the last two years, GSK's Free Cash Flow has grown by 0.37%, rising from 6.76B to 6.78B. Disclosure: I/we have a beneficial long position in the shares of ABBV, BMY either through stock ownership, options, or other derivatives. 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. Only 0.08% of the stock of AbbVie is held by insiders. 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. In the next year, analysts predict that Revenue will reach C$253.83M - an increase of 3.50%. My EPS figure increases slightly between 2022 and 2023, whilst AbbVie has suggested it will be down slightly before beginning to accelerate towards the end of the decade, as revenues correspondingly begin to climb sharply once the worst of the Humira LOE is over. 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. Management puts this down to "delayed market recovery for new patients starting therapy in Chronic Lymphocytic Leukemia ("CLL") and increasing competition" and has downgraded its FY22 guidance as a result. Today, AbbVie operates as a diversified multi-national pharmaceutical company with a patient-centric approach to research. Get 30 Days of MarketBeat All Access Free, Sign in to your free account to enjoy these benefits. With the Hughes Optioneering Strategy, youll soon learn that the safest option for new accounts is options themselves! While some of the gains are due to investor perception that it is a strong company, some view ABBV as a defensive stock, with most of the other stocks in the sector also doing well. Among its many positions is sustainable operations so it can deliver life-changing therapies to those who need them most. 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. Among the many avenues of research and innovation are the advancement of precision medicine or pMedicine.
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