AbbVie's shares tank after cancer hopeful's phase 2 setback

Henrietta Strickland
April 15, 2018

Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of AbbVie Inc.

Taking a look at the performance of RRC stock, an investor will come to know that the weekly performance for this stock valued at 2.65%, resulting in a performance for the month at 17.11%.

Oncology is the key growth business segment for AbbVie after the loss of exclusivity for Humira in 2023, and today's results and regulatory decision call into question the viability of the company's current solid tumor strategy. J.P. Morgan maintained it with "Buy" rating and $7200 target in Thursday, June 1 report. Investors can maximize their rates of return by buying and selling stocks when they are trading below and above their price targets, respectively. (NYSE:ABBV) has "Buy" rating given on Tuesday, December 5 by Leerink Swann. On the other hand, it has Technical Analysis, which helps stock analysts to evaluate the performances of past market activities and lends a hand to them to predict future price activity. AbbVie now has a consensus rating of "Buy" and a consensus target price of $120.96.

Among 22 analysts covering Abbvie Inc (NYSE:ABBV), 10 have Buy rating, 2 Sell and 10 Hold. AbbVie now has a consensus rating of Buy and a consensus price target of $120.96. (NYSE:ABBV). Norman Fields Gottscho Management Lc owns 13,120 shares or 0.7% of their United States portfolio. Bb&T Securities Llc sold 56,271 shares as the company's stock rose 6.17% with the market.

The price-to-sales is a valuation ratio that relates a company's stock price to its revenues.

The recent session unveiled a 55.43% positive lead over its 52-week stock price low and showed down move of -22.06% over its 52-week high stock price. AbbVie Inc. (NYSE:ABBV) has risen 39.20% since April 2, 2017 and is uptrending. The company reported $1.48 EPS for the quarter, beating the Zacks' consensus estimate of $1.44 by $0.04. In looking the SMA 200, we see that the stock has seen an 7.73%.The Company's net profit margin for the 12-months at 18.7%. Last quarter, the company saw 7.74 billion in total revenues.

ATR stands at 3.25 while a Beta factor of the stock stands at 1.49. The firm's revenue was up 13.9% on a year-over-year basis. equities research analysts predict that AbbVie will post 7.48 EPS for the current year. The ex-dividend date of this dividend is Thursday, April 12th. AbbVie's payout ratio is 50.71%.

AbbVie's stock crashed more than 12% on Thursday in response to the news. Fuller Thaler Asset Management Inc accumulated 14,400 shares or 0.02% of the stock.

AbbVie lost almost $22 billion from its market cap on Thursday following the disappointing news for Rova-T.

Moving average convergence divergence (MACD) shows that the stock is on a PRICE RELATIVITY trend. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Michael Robert A. had sold 6,699 shares worth $589,512. The shares were sold at an average price of $119.43, for a total value of $512,832.42. Fiduciary Trust Co. now owns 321,953 shares of the company's stock worth $23,345,000 after buying an additional 10,113 shares during the period. The disclosure for this sale can be found here. Insiders own 0.23% of the company's stock. (NYSE:ABBV) opened at $112.03 on Tuesday.

Ardsley Advisory Partners increased Aquaventure Hldgs Ltd stake by 137,700 shares to 192,700 valued at $3.00M in 2017Q4. Also, the number of investment professionals holding Harsco Corp in top ten equity positions increased from 0 to 1 for an increase of 1. Community Bank N.A. boosted its stake in AbbVie by 0.7% during the 2nd quarter.

XL Group Ltd (XL) stock traded with up move of 0.05% at $55.39 over last trading session on a USA exchange. The difference between the expected and actual EPS was $0.04/share, which represents an Earnings surprise of 2.8%. Agf America Inc has 1.09% invested in AbbVie Inc. Institutional ownership refers to the ownership stake in a company that is held by large financial organizations, pension funds or endowments.

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Late-stage trials testing the drug as a treatment for patients in the earlier stages of the disease will continue, the company said.

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