Company Update (NYSE:ABBV): AbbVie Announces Fourth Breakthrough Therapy Designation Granted by the U.S. Food and Drug Administration (FDA) for Ibrutinib (IMBRUVICA®) for Chronic Graft-Versus-Host-Disease (cGVHD), a Rare Condition with Limited Treatment Options

[PR Newswire] – NORTH CHICAGO, Ill., June 29, 2016 /PRNewswire/ — AbbVie (NYSE: ABBV), a global biopharmaceutical company, today announced that the U.S. Food and Drug Administration (FDA) granted a fourth Breakthrough … Read more on this. AbbVie Inc. (ABBV) , with a current value of $103.31B, started trading this morning at $60.58. During the trading session, ABBV traded between $60.23 to $61.51 with a trailing 52-week range being $45.45 to $71.60. ABBV shares are currently priced at 12.60x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 0.52x forward p/e ratio. And for dividend hunters, the company pays shareholders $2.28 per share annually in dividends, yielding 3.81%. In a review of the consensus earnings estimate this quarter, 17 sell-side analysts are looking at $1.20 per share, which would be $0.12 better than the year-ago quarter and a $0.03 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $4.76 would be a $0.47 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $6.20 Billion. If reported, that would be a 13.14% increase over the year-ago quarter. Recently, Morgan Stanley downgraded ABBV from Overweight to Equal-Weight (Jun 8, 2016). Previously, Societe Generale Initiated ABBV at to Sell. With the above information in mind, readers should note that the average price target is $70.00, which is 15.55% above where the stock opened this morning. See more in (NYSE:ABBV) Similar Articles: Stock Update: AbbVie Inc (NYSE:ABBV) – New AbbVie Global Campaign Aims to Provide Educational Resources for Millions Living with Painful, Chronic Skin Disease Stock Update (NYSE:ABBV): AbbVie Builds Upon Robust Body of IMBRUVICA® (ibrutinib) Data with Phase 3 Longer-Term Studies in Patients with Chronic Lymphocytic Leukemia and Small Lymphocytic Lymphoma Presented at the American Society of Clinical Oncology (ASCO) Annual 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