AbbVie (ABBV, Financial) has recently experienced significant bearish sentiment as evidenced by the trading of 4,987 put options, aligning with the expected volume. Notably, the most active options are those scheduled to expire on May 30th, specifically the 180 and 177.5 strike puts, which together account for approximately 3,200 contracts. The Put/Call Ratio now stands at 3.76, suggesting a strong tilt towards bearish positions. Additionally, the at-the-money implied volatility has increased by nearly two points. Investors are keeping an eye on the company's expected earnings announcement on July 24th.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 25 analysts, the average target price for AbbVie Inc (ABBV, Financial) is $213.46 with a high estimate of $251.00 and a low estimate of $173.00. The average target implies an upside of 15.68% from the current price of $184.52. More detailed estimate data can be found on the AbbVie Inc (ABBV) Forecast page.
Based on the consensus recommendation from 28 brokerage firms, AbbVie Inc's (ABBV, Financial) average brokerage recommendation is currently 2.1, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for AbbVie Inc (ABBV, Financial) in one year is $173.74, suggesting a downside of 5.84% from the current price of $184.52. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the AbbVie Inc (ABBV) Summary page.
ABBV Key Business Developments
Release Date: April 25, 2025
- Adjusted Earnings Per Share (EPS): $2.46, $0.10 above guidance midpoint.
- Total Net Revenues: Over $13.3 billion, $550 million ahead of expectations.
- Ex-Humira Platform Sales Growth: More than 21% increase.
- Immunology Revenues: Over $6.2 billion, exceeding expectations.
- Skyrizi and Rinvoq Combined Sales: $5.1 billion, over 65% growth.
- Humira Global Sales: $1.1 billion, down 49.5% operationally.
- Oncology Revenues: $1.6 billion, exceeding expectations.
- Aesthetics Global Sales: $1.1 billion, down 10.2% operationally.
- Neuroscience Revenues: Approximately $2.3 billion, up 17% operationally.
- Adjusted Gross Margin: 84.1% of sales.
- Adjusted R&D Expense: 15.4% of sales.
- Adjusted SG&A Expense: 24.6% of sales.
- Adjusted Operating Margin Ratio: 42.3% of sales.
- Net Interest Expense: $627 million.
- Adjusted Tax Rate: 14.2%.
- Full Year Adjusted EPS Guidance: Raised to $12.09 - $12.29.
- Full Year Revenue Forecast: Approximately $59.7 billion, $700 million increase.
- Skyrizi Global Revenue Guidance: $16.5 billion, $600 million increase.
- Rinvoq Global Sales Guidance: $8.2 billion, $300 million increase.
- US Humira Revenue Guidance: $3.5 billion, $500 million decrease.
- Botox Therapeutic Global Sales Guidance: $3.6 billion, $100 million increase.
- Total Oral CGRP Revenue Guidance: $2.2 billion, $100 million increase.
- Imbruvica Global Revenue Guidance: $2.8 billion, $100 million increase.
- Venclexta Global Sales Guidance: $2.7 billion, $100 million increase.
- Aesthetics Global Sales Guidance: $5.1 billion, with Botox and Juvederm each lowered by $100 million.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- AbbVie Inc (ABBV, Financial) exceeded expectations with first-quarter adjusted earnings per share of $2.46, which is $0.10 above the guidance midpoint.
- Total net revenues were more than $13.3 billion, nearly $550 million ahead of expectations, driven by strong performance across multiple therapeutic areas.
- The ex-Humira platform delivered robust sales growth of more than 21%, with significant contributions from immunology, neuroscience, oncology, and aesthetics.
- Skyrizi and Rinvoq showed exceptional performance, contributing $5.1 billion in combined sales this quarter, reflecting growth of more than 65%.
- AbbVie Inc (ABBV) raised its full-year adjusted earnings per share guidance by $0.10, now expecting adjusted EPS between $12.09 and $12.29.
Negative Points
- Global sales of Humira were down 49.5% on an operational basis, primarily due to faster share erosion from biosimilar competition.
- Aesthetics global sales were down 10.2% on an operational basis, with Botox cosmetic revenues down 10.7% and Juvederm sales down 20%, impacted by economic headwinds.
- The company is moderating its assumptions for category growth globally in aesthetics due to a decline in recent consumer sentiment.
- Imbruvica global sales were down 11.9%, reflecting competitive dynamics in chronic lymphocytic leukemia (CLL).
- AbbVie Inc (ABBV) faces potential risks from sectoral tariffs and other trade policy shifts, which have not been included in the current guidance.
