J.P. Morgan Sticks to Its Buy Rating for AbbVie (ABBV)
J.P. Morgan analyst Chris Schott maintained a Buy rating on AbbVie today and set a price target of $260.00.
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According to TipRanks, Schott is a 4-star analyst with an average return of 6.2% and a 57.97% success rate. Schott covers the Healthcare sector, focusing on stocks such as Eli Lilly & Co, Gilead Sciences, and Pfizer.
In addition to J.P. Morgan, AbbVie also received a Buy from TipRanks – Google’s Google Drug Manufacturers – General in a report issued today. However, on the same day, TipRanks – OpenAI reiterated a Hold rating on AbbVie (NYSE: ABBV).
Based on AbbVie’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $16.62 billion and a net profit of $1.82 billion. In comparison, last year the company earned a revenue of $15.1 billion and had a GAAP net loss of $22 million
Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ABBV in relation to earlier this year. Earlier this month, Perry C Siatis, the EVP, GC & Sec of ABBV sold 33,518.00 shares for a total of $7,821,937.33.
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