AbbVie Stock Falls 11% in a Month: Should You Buy the Dip? [Yahoo! Finance]
AbbVie Inc. (ABBV)
Last abbvie inc. earnings: 5/1 07:43 am
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Source: Yahoo! Finance
In November, AbbVie announced that two registration-enabling phase II studies on emraclidine, its once-daily oral candidate for treating schizophrenia, failed to meet their primary endpoints. Emraclidine was added to AbbVie's pipeline with this year's acquisition of Cerevel and was a key reason for AbbVie to buy the company, thus bringing into question the viability of the deal. The failure of the phase II studies came as a surprise to investors, given the strength of the phase Ib data on emraclidine. ABBV's stock crashed on the news, making investors wonder if they should sell the stock. Though such pipeline failures hit a stock hard, we should understand the company's fundamentals and its strengths and weaknesses to better analyze how to play the stock after the recent price dip. AbbVie lost patent protection for Humira in the United States in January 2023 and in the EU in 2018. Sales of Humira are declining due to loss of exclusivity and biosimilar erosion. However, AbbVie ha
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ABBV
News
- AbbVie Inc. (NYSE: ABBV) was upgraded by analysts at Leerink Partners from a "market perform" rating to an "outperform" rating. They now have a $206.00 price target on the stock.MarketBeat
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ABBV
Earnings
- 10/30/24 - Beat
ABBV
Sec Filings
- 11/4/24 - Form S-8
- 11/4/24 - Form S-8
- 11/4/24 - Form 10-Q
- ABBV's page on the SEC website