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On Wednesday, Berenberg increased the price target for AbbVie shares, trading on the New York Stock Exchange (NYSE:ABBV), from $165.00 to $195.00, while keeping the stock rating at Hold. The adjustment follows a thorough review of AbbVie’s 2024 annual report, which led to an upward revision of earnings per share (EPS) forecasts by 2-6% and a 3% increase in the net present value (NPV) as calculated by DrugBank. According to InvestingPro data, AbbVie, a prominent player in the biotechnology industry, is currently trading near its 52-week high of $218.66, with a market capitalization of $377 billion.
The revised forecasts are primarily due to stronger than anticipated immunology sales, which have been partially offset by lower sales in the aesthetics market. Berenberg now predicts that Skyrizi, one of AbbVie’s immunology drugs, will reach peak sales of $36 billion, contributing an NPV of $60 per share. This figure represents 32% of AbbVie’s total NPV. The company’s strong market position is reflected in its impressive 70.3% gross profit margin and $56.3 billion in revenue over the last twelve months.
Abbvie’s stock performance has been noted as the strongest among large pharmaceutical companies in the United States and Europe, with a year-to-date increase of 22%. The firm’s analysts have concluded that the current stock valuation is fair based on these results.
In their statement, the analysts at Berenberg reiterated their Hold rating for AbbVie stock. The decision to raise the price target to $195 reflects the updated sales and earnings projections, as well as the stock’s recent performance in the market.
In other recent news, AbbVie has entered into a licensing agreement with Gubra to acquire a long-acting Amylin analogue, GUB14295, currently in phase 1 development. The deal includes an upfront payment of $350 million, potential milestone payments up to $1.875 billion, and royalties on net sales. BMO Capital Markets reiterated its Outperform rating for AbbVie with a price target of $215, viewing the agreement as a strategic move to expand AbbVie’s treatment offerings. Meanwhile, Bernstein SocGen Group maintained a Market Perform rating with a $203 price target, highlighting AbbVie’s entry into the obesity treatment market as a potential new opportunity. BofA Securities raised its price target for AbbVie to $223, maintaining a Neutral rating, citing the company’s robust financial prospects and recent ventures into new markets.
Additionally, N-able reported fourth-quarter earnings and revenue that exceeded expectations, with adjusted earnings per share of $0.10 and revenue growth of 7.5% year-over-year to $116.5 million. Despite this, N-able’s guidance for 2025 fell short of Wall Street projections, leading to a decline in its share price. The company expects first-quarter revenue between $115-116 million and full-year 2025 revenue of $486.5-492.5 million, both below analyst estimates. N-able’s CEO, John Pagliuca, expressed optimism about the company’s future, emphasizing investments in security leadership and channel partnerships.
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