Market Update (NYSE:ABBV): AbbVie, University of Chicago collaborate to advance cancer research

[PR Newswire] – CHICAGO and NORTH CHICAGO, Ill., April 20, 2016 /PRNewswire/ — The University of Chicago and AbbVie (ABBV), a global biopharmaceutical company, have entered into a five-year collaboration agreement designed to improve the pace of discovery and advance medical research in oncology at both organizations. The joint strategic research agreement between AbbVie and the University of Chicago is designed to encourage and strengthen collaboration among researchers. Initially, both organizations will work together to advance research in several areas of oncology, which could include, among others, breast, lung, prostate, colorectal and hematological cancer. Read more on this. AbbVie Inc. (ABBV) , with a current market cap of $97.81B, started the session at $60.17. Shares have traded today between $60.17 and $61.11 per share and has traded between $45.45 and $71.60 over the past 12 months. ABBV shares are currently priced at 12.11x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -5.15x earnings multiple. And for passive income investors, the company pays shareholders $2.28 per share annually in dividends, yielding 3.83%. In a review of the consensus earnings estimate this quarter, 18 sell-side analysts are looking at $1.14 per share, which would be $0.20 better than the year-ago quarter and a $0.01 sequential decrease. The full-year EPS estimate is $4.97 which would be a $0.68 improvement than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $6.02 Billion. If reported, that would be a 19.44% increase over the year-ago quarter. In terms of ratings, Societe Generale Initiated ABBV at Sell (Apr 6, 2016). Previously, Deutsche Bank Initiated ABBV at to Hold. The average price target for ABBV shares by the analysts covering it is $70.00, which is 16.34% above where the stock opened. See more in (NYSE:ABBV) Similar Articles: Market Update: AbbVie Inc (NYSE:ABBV) – AbbVie to Host First-Quarter Earnings Conference Call Market Update: AbbVie Inc (NYSE:ABBV) – AbbVie and Boehringer Ingelheim announce global collaboration on promising immunology compounds Company Update (NYSE:ABBV): MD Anderson, AbbVie Connect to Advance Cancer Immunotherapy