Company Update: AbbVie Inc (NYSE:ABBV) – Bristol-Myers Squibb and AbbVie Announce European Commission Approval of Empliciti™ (elotuzumab) for the Treatment of Multiple Myeloma in Adult Patients Who Have Received at Least One Prior Therapy

[Business Wire] – Bristol-Myers Squibb Company and AbbVie announced today that the European Commission has approved Empliciti™ for the treatment of multiple myeloma as combination therapy with Revlimid® and dexamethasone in patients who have received at least one prior therapy. Read more on this. AbbVie Inc. (ABBV) , with a current market cap of $101.43B, started the session at $63.77. Looking at today’s trading action, the company’s one day range from $62.64 to $63.83 with a one year range of $45.45 to $71.60. ABBV shares are currently priced at 13.33x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 4.50x earnings multiple for the same period. And for income investors, the company pays shareholders $2.28 per share annually in dividends, yielding 3.65%. According to a consensus of 15 analysts, the earnings estimate of $1.20 per share would be $0.12 better than the year-ago quarter and a $0.04 sequential decrease. The full-year EPS estimate is $4.78 which would be a $0.49 better than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $6.21 Billion. If reported, that would be a 13.32% increase over the year-ago quarter. Recently, Societe Generale Initiated ABBV at Sell (Apr 6, 2016). Previously, Deutsche Bank Initiated ABBV at to Hold. Investors should keep in mind is that the average price target is $70.83, which is 11.07% above where the stock opened this morning. See more in (NYSE:ABBV) Similar Articles: Market Update (NYSE:BMY): Bristol-Myers Squibb and AbbVie Receive Positive CHMP Opinion for Investigational Antibody, Empliciti (elotuzumab), for the Treatment of Multiple Myeloma in Patients Who Have Received at Least One Prior Therapy Stock Update: AbbVie Inc (NYSE:ABBV) – AbbVie’s Venetoclax Receives Breakthrough Therapy Designation from FDA in Combination with Rituximab for the Treatment of Patients with Relapsed/Refractory Chronic Lymphocytic Leukemia Company Update: AbbVie Inc (NYSE:ABBV) – Bristol-Myers Squibb and AbbVie Receive FDA Approval of Empliciti™ (elotuzumab) for the Treatment of Patients with Multiple Myeloma Who Have Received One to Three Prior Therapies