Company Update: AbbVie Inc. (NYSE:ABBV) – AbbVie Announces Initiation of Pivotal Phase 3 Study of Veliparib (ABT-888) for Patients with Early-Stage Triple-Negative Breast Cancer

AbbVie Inc. (NYSE:ABBV) [PR Newswire] – NORTH CHICAGO, Ill., Jan. 15, 2014 /PRNewswire/ — AbbVie (NYSE: ABBV) today announced the initiation of a Phase 3 clinical trial evaluating the safety and efficacy of its investigational compound, veliparib …
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AbbVie Inc. (ABBV), currently valued at $80.24B, opened this morning at $50.65.
 
A quick look at the market, the company’s traded between $50.34 to $50.70 and has traded between $34.45 and $54.78 over the past 12 months.
 
ABBV shares are currently priced at 15.87x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 0.25x forward p/e ratio.
 
The company pays shareholders $1.60 per share annually in dividends, yielding 3.10%.
 
According to a consensus of 11 analysts, the earnings estimate of $0.82 per share would be $0.82 worse than the year-ago quarter and a $0.03 sequential decrease. The full-year EPS estimate is $3.14 which would be a $0.21 worse than last year’s full-year earnings.
 
The quarterly earnings estimate is predicated on a consensus revenue forecast of $5.08 Billion. If reported, that would be a 2.50% decrease over the year-ago quarter.
 
In terms of ratings, Argus Initiated ABBV at Buy (Aug 12, 2013). Previously, Barclays Initiated ABBV at to Equal Weight.
 
The average price target for ABBV shares is $55.29, which is 9.16% above where the stock opened this morning.
 
AbbVie Inc. (NYSE:ABBV), a research-based biopharmaceutical company, engages in the discovery, development, manufacture, and sale of pharmaceutical products worldwide. Its product portfolio includes a range of adult and pediatric pharmaceuticals and much more.
 
Tag Helper ~ Stock Code: ABBV | Common Company name: AbbVie | Full Company name: AbbVie Inc. (NYSE:ABBV) .

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