I have plugged my revenue expectations into this table knowing that they closely match AbbVie management's own expectations based on what they have said in public. An investment in AbbVie is not without risk, but my contention is that this Pharma is in good hands - CEO Gonzalez has made few mistakes during his near-decade in charge - and will emerge from the Humira LOE a stronger and more diverse company. AbbVie stock forecast 2022 - 2025 - 2030 with analysis AbbVie stock stood at $162.110000610352 on 2022-03-31. forecast for 2023 is $159.42, forecast for 2024 is $156.65, forecast for 2025 is $139.68, forecast for 2026 is $124.48, To see all exchange delays and terms of use please see Barchart's disclaimer. That certainly won't derail the oncology division however. Please. 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As we can see the immunology division consists of only 3 assets yet by my calculation, will likely account for 50% of AbbVie's revenues in 2022 (to calculate 2022 sales revenues by product, since we do not yet have final figures, I have used 9m 2022 figures and assumed Q4 revenues will be the average of the previous 3 quarters). After 2022 Humira's row is shaded yellow to signify patent expiry. As well as the stock price gains AbbVie has always paid a handsome dividend - which has increased by 270% since the Pharma's inception, currently paying $1.48 per quarter, for a current yield of 4% - the highest in the large Pharmaceutical sector. As a result I have dropped Imbruvica revenues to just over $3.5bn in 2022 and modelled for a CAGR growth of just 1.5% between then and 2030. Factset: FactSet Research Systems Inc.2019. The company's lead asset - all-time best selling immunology drug Humira - finally loses patent protection this year and sales will enter a period of terminal decline. That is substantially higher than the 12% CAGR achieved between 2018 - 2022, although that period includes the additional revenues from Allergan. Year-to-date, the stock was up slightly more than 12% while benchmark global indices have all fallen sharply amid surging inflation, interest rate hikes and slowdown worries. As such, forecasting stock prices is more of an art than a science. (NYSE: ABBV) Abbvie's current Earnings Per Share (EPS) is $6.65. Drug development has not traditionally been one of AbbVie's strengths - it has not had to be - but we ought to see the positive results of heavy investment into the oncology pipeline over the next 5-7 years, and by 2030, I believe this division could account for >17% of AbbVie's total revenues. AbbVie's Dividend and Valuation. Since its 2013 separation from Abbott Laboratories (ABT 1.78%), AbbVie's stock has grown more than 160%. AbbVie has been the subject of 9 research reports in the past 90 days, demonstrating strong analyst interest in this stock. Finally I can present a target price for AbbVie stock in 2023 using DCF / EBITDA analysis. Upgrade to MarketBeat Daily Premium to add more stocks to your watchlist. In my model I have then reduced revenues by 20% between 2024 - 2026, and then by 10% per annum between 2027 - 2030. Our momentum combined with ramping contributions from new products and new indications will drive accelerating revenue and EPS growth through the rest of the year., ABBV has done very well to add to its impressive gains from the past couple of years. 2022 Cable News Network. The P/E ratio of AbbVie is 23.61, which means that it is trading at a less expensive P/E ratio than the Medical sector average P/E ratio of about 100.12. It had an upside potential of 4.76%, based on the closing price of $152.49 on 29 June. Ltd., AbbVie Pty Ltd, AbbVie Purchasing LLC, AbbVie Real Estate Management GmbH, AbbVie Research B.V., AbbVie Resources Inc., AbbVie Resources International Inc., AbbVie Respiratory LLC, AbbVie S. de R.L., AbbVie S.A., AbbVie S.A., AbbVie S.A.S., AbbVie S.R.L., AbbVie S.r.l., AbbVie S. r.l., AbbVie SA, AbbVie SAS, AbbVie SIA, AbbVie Sarl, AbbVie Sdn. The Abbvie stock forecast for 2025 had the price at $259.018. Today, AbbVie operates as a diversified multi-national pharmaceutical company with a patient-centric approach to research. We're currently running a sale at my private investing ideas service, Haggerston BioHealth, where members get access to portfolios, market alerts, real-time chat, and more. Receive regular, detailed analysis focused on biotech and healthcare stocks. Rinvoq's progress has been a little more circumspect, but almost as impressive. Abbvies first quarter 2022 financial results for the quarter ended 31 March revealed that diluted earnings per share (EPS) increased to $2.51 on a generally accepted accounting principles (GAAP) basis, up from $1.99 a year earlier. That same month, the FDA extended the review period for Skyrizi (risankizumab), a treatment drug for moderate to severe Crohns disease in patients aged 16 and older. With Skyrizi and Rinviq - two assets developed in-house - performing so well, however, perhaps we should give management the benefit of the doubt. After creating the income statement I prepare the discounted cash flow/EBITDA multiple analysis. Is this happening to you frequently? The pharma industry witnessed solid growth amid the pandemic. Neuroscience looks highly promising too, and aesthetics capable of driving some respectable growth driven by old stager Botox. Most stock quote data provided by BATS. Shareholders of record on Friday, April 14th will be given a dividend of $1.48 per share on Monday, May 15th. The company is scheduled to release its next quarterly earnings announcement on Friday, May 5th 2023. losed Joint Stock Company FinTech Solutions, Fidelity NASDAQ Composite Index Tracking Stock Fund, Abbvie stock price analysis: Past year performance, Abbvie fundamental analysis: Q1 2022 earnings, Abbvie stock forecast: Company guidance and analysts predictions. The company reported its first revenue for Botox competitor Daxxify. Allergan plc was an Ireland-based pharmaceutical company focused on health-oriented aesthetic products and is the owner of Botox. Only you can design whether Abbvie stock is the right investment for you. I will conclude this analysis by stating that, based on all available information, market headwinds and tailwinds, competitors, and opportunities via its products and pipeline, I still consider AbbVie to be a strong investment opportunity. I have no business relationship with any company whose stock is mentioned in this article. The company employs 50,000 workers across the globe. AbbVie made the bold decision to take on a heavy debt load and bid for Allergan, with the deal being completed in 2020. Although investing in AbbVie isn't riskless, it is advisable based on what we know about the company. Should I buy or sell AbbVie stock right now? I am not receiving compensation for it (other than from Seeking Alpha). 16 analysts have issued 12-month price targets for AbbVie's shares. Among its many positions is sustainable operations so it can deliver life-changing therapies to those who need them most. How to Decide, Taiwan Semiconductor Manufacturing Expanding in the West, One Way to Earn More From Dividend Stocks, How to Choose a Winning Dividend Investing Strategy, 3 Industries Leading the Stock Market Rebound, Oil Tankers Boost Dividends, See Continued Robust Business In '23. contact@marketbeat.com For the next year, analysts predict that Free Cash Flow will reach 6.91B - an increase of 1.94%. Gene therapies have been a long time coming, having first been popularized in the early noughties. AbbVie is one of the largest global Pharmaceuticals, with a market cap of >$265bn. Within eye care, Restasis was a major disappointment, and the entire division seems to be struggling, with total revenues falling from ~$920m in Q2'21, to ~$720m in Q2'22. It should be noted that the strength of the competition AbbVie faces from other Pharma's desperate to claim a larger share of the immunology markets after Humira's LOE is fierce - Eli Lilly's (LLY) Olumiant, Pfizer's (PFE) Zeljanz, Amgen's Otezla, Bristol Myers Squibb's (BMY) Zeposia, Johnson & Johnson's (JNJ) Tremfya, Novartis' (NVS) Cosentyx and Regeneron (REGN) / Sanofi's (SNY) Dupixent to name a few. Nevertheless, after applying the discount factor, I calculate a share price target of $151 based on DCF analysis and a slightly higher figure of $168 based on EBITDA analysis. All rights reserved. The important point here is that physicians will not necessarily be under any pressure to switch patients from Humira to a biosimilar, given, as Gonzalez puts it: there won't be any difference between the biosimilar and Humira from a co-pay standpoint or any kind of a step editing. AbbVie trades on the New York Stock Exchange (NYSE) under the ticker symbol "ABBV.". Based on earnings estimates, ABBV will have a dividend payout ratio of 54.11% next year. Capital Com Australia Pty Ltd (ABN 47 625 601 489) is a company registered in Australia and regulated by the Australian Securities and Investments Commission (ASIC) under AFSL 513393. The total revenue in 2021 was $56.20 billion with a 31% operating margin. AbbVie Stock Forecast 03-06-2023. I wrote this article myself, and it expresses my own opinions. For full year 2022, Abbvie predicted the adjusted diluted EPS guidance range at $14.00 to $14.20 and $13.92 to $14.12. The above table shows quarterly and annual product revenues going back to FY20, whilst the last 4 columns show revenue growth percentage between FY20 and FY21, then revenue growth between Q2'21 and Q2'22, the sequential (quarter on quarter) growth, followed by product sales as a percentage of revenues. The company earns $11.84 billion in net income (profit) each year or $6.61 on an earnings per share basis. Receive ABBV Stock News and Ratings via Email. With the Hughes Optioneering Strategy, youll soon learn that the safest option for new accounts is options themselves! In other words, management believes the LOE of Humira - despite it being the world's best-selling drug - will not hinder growth at the company. I have been maintaining a revenue forecasting table for AbbVie's products which I have amended based on Q2'22 and H1'22 results, and the slightly downgraded guidance issued for 2022 - management now expects adjusted earnings per share ("EPS") of $13.78 - $13.98, representing growth of 17% at the midpoint. The lowest target is $136.35 and the highest is $210. That is interesting to me as I think it suggests management will need to commercialize more assets if it wants to hit that target. Snowflake Reports Weak Guidance: Is the Growth Snowflake Melting? Between September 2021 and April 2022, AbbVie stock went on a sensational bull run, gaining 62% and hitting an all-time peak of $174. The following companies are subsidiares of AbbVie: AbbVie (Gibraltar) Holdings Limited, AbbVie (Gibraltar) Holdings Limited Luxembourg S.C.S., AbbVie (Gibraltar) Limited, AbbVie (Pty) Ltd., AbbVie A/S, AbbVie AB, AbbVie AG, AbbVie AS, AbbVie Australasia Holdings Limited, AbbVie B.V., AbbVie Bahamas Ltd., AbbVie Biofarmacevtska druba d.o.o., AbbVie Biopharmaceuticals GmbH, AbbVie Biopharmaceuticals LLC, AbbVie Biopharmaceuticals Ltd., AbbVie Bioresearch Center Inc., AbbVie Biotech Ventures Inc., AbbVie Biotechnology GmbH, AbbVie Biotechnology Ltd, AbbVie Biotherapeutics Inc., AbbVie Biotherapeutics Limited, AbbVie Central Finance B.V., AbbVie Corp, AbbVie Corporation, AbbVie Deutschland GmbH & Co. KG, AbbVie EOOD, AbbVie Endocrine Inc., AbbVie Endocrinology Inc., AbbVie Farmacuticos S.A. de C.V., AbbVie Farmacutica Ltda., AbbVie Finance B.V., AbbVie Finance Corporation, AbbVie Finance LLC, AbbVie GK, AbbVie GmbH, AbbVie Holdings Corporation, AbbVie Holdings Inc., AbbVie Holdings KK, AbbVie Holdings SAS, AbbVie Holdings Unlimited, AbbVie Holdings s.r.o., AbbVie International S. r.l., AbbVie Investments Limited, AbbVie Investments S. r.l., AbbVie Ireland Holdings Limited, AbbVie Ireland NL B.V., AbbVie Ireland Unlimited Company, AbbVie Japan Holdings B.V., AbbVie Kft., AbbVie Komplementr GmbH, AbbVie L.L.C., AbbVie L.da, AbbVie Limited, AbbVie Limited Liability Company, AbbVie Logistics B.V., AbbVie Ltd, AbbVie Ltd., AbbVie Manufacturing Management Limited, AbbVie Nederland Holdings B.V., AbbVie Operations Singapore Pte. In the last four years, Johnson & Johnson's Free Cash Flow has fallen from $18.53B to $17.00B - a 8.28% decrease. Migraine therapy Ubrelvy is a future blockbuster, Gonzalez believes, as is Qulipta, in the same indication. In my opinion, based on the current portfolio, AbbVie shares look undervalued below $160, but the upside above that price is limited, unless management is able to commercialize more products between now and the end of the decade, in order to achieve what looks like a very ambitious goal in driving high-single-digit revenue growth in the second half of this decade. Venclexta - a "first-in-class BCL-2 inhibitor for multiple hematological malignancies", according to Gonzalez, is forecast for strong growth, whilst Gonzalez has name checked 3 new drugs he expects to be approved by 2026. The company reported $3.60 EPS for the quarter, topping the consensus estimate of $3.54 by $0.06. Capital Com is an execution-only service provider. AbbVie does not have the funds to pursue any large M&A deals, but it does not need to either, given the strength of its pipeline and products. The company's average rating score is 2.44, and is based on 7 buy ratings, 9 hold ratings, and no sell ratings. When I began this post it was in my mind to give AbbVie stock a "Hold" rating owing to an underwhelming - on some levels - set of Q2'22 earnings, some concerns around high revenue generating products such as Imbruvica, Juvederm, and Restasis, the disappearance of the Women's Health division, the imminent LOE for Humira and the high levels of debt. ABBV currently yields 4.1% and has raised its dividend every year since 2013. AbbVie Aesthetics / Neurology revenues forecasts to 2030 (my table and assumptions) . I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). The company provided earnings per share (EPS) guidance of $10.70- for the period. The company is a member of the Fortune 100 and one of the Fortune 100s Best Companies To Work For. This indicates that the company will be able to sustain or increase its dividend. Data from two Phase 3 induction studies and one maintenance study supported the approval. Receive regular, detailed analysis focused on biotech and healthcare stocks. 164.71 0.00 0.00%. If signs point to that happening I will likely be revising my target price upwards again, but I am playing it more conservative as nobody truly knows the scale of losses after the Humira LOE. I write about Biotech, Pharma and Healthcare stocks and share investment tips. You should never invest money you cannot afford to lose. Read the conference call transcript. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. It is generally accepted however that 2023 will see the entrants into the US market of several generic versions of Humira - which works by inhibiting Tumor Necrosis Factor ("TNF"), an inflammation causing protein - from the likes of Viatris (VTRS), Organon (OGN), Pfizer (PFE), Amgen (AMGN), and several more companies involved in the development and sale of generic or biosimilar drugs. What other stocks do shareholders of AbbVie own? In my modeling table above, I estimate Humira sales will decline by 25% between 2022 and 2023, to ~$16bn, although some of that lost revenue will be gobbled up by Skyrizi/Rinvoq. All rights reserved. I am not receiving compensation for it (other than from Seeking Alpha). How do I arrive at my share price target? A hold rating indicates that analysts believe investors should maintain any existing positions they have in ABBV, but not buy additional shares or sell existing shares. ABBV Stock 12 Months Forecast. AbbVie probably does not want to be recognized as simply an immunology giant however, it wants to be substantially more diversified and like all major Pharma's it has a strong long-term focus on oncology. And we remain confident in our ability to achieve total sales of more than $9 billion by 2029. The surge in revenues can primarily be attributed to its Allergan. Fawad Razaqzada, market analyst for City Index and FOREX.com, commenting to Capital.com, said: As of 30 June, analyst ratings compiled by MarketBeat shared different price targets for Abbvie stock. Moreover, with surging demand, rising investments in research and development, and increasing e-pharmacy channels, the industry is well-positioned for significant growth New research suggests Depakote ingredient could have a new clinical function. Finally, AbbVie was able to raise its financial . It pays a dividend yield of 3.83%, putting its dividend yield in the top 25% of dividend-paying stocks. 8.05% P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities. The firm's revenue for the quarter was up 1.6% compared to the same quarter last year. The 21 analysts offering 1 year price forecasts for ABBV have a max estimate of and a min estimate of . As I have mentioned in previous notes, however, the gains owe more to price hikes than sales volumes, and come 2023 and the LOE, even AbbVie admits the blow to revenues will be substantial. The dividend payout ratio of AbbVie is 89.56%. It . View analysts price targets for ABBV or view top-rated stocks among Wall Street analysts. Their combined revenues are expected to reach $7.5bn in 2022, and Gonzalez told the audience at JPM that: Skyrizi and Rinvoq are now on pace to deliver more than $17.5 billion in combined sales, risk adjusted sales in 2025, well above our previous expectations. Forecast . AbbVie Stock Forecast 2023 $165.00 In the last five quarters, AbbVie's Price Target has risen from $122.84 to $162.12 - a 31.98% increase. I have not managed to match management's ambitious high-single-digit growth figures from 2025 - 2023, despite anticipating 6% growth for nearly all products in that period. The stocks growth marks a significant outperformance over the broader markets. AbbVie Stock Forecast 2022 - 2025 - 2030 | StockForecast.com GB AbbVie Oncology Division Forward Revenue Projections (my table and assumtpions). AbbVie's free cash flow yield is 10.5% compared to 4.3% for Johnson & Johnson . Abbvie Inc quote is equal to 152.710 USD at 2023-02-27. Trial results demonstrated an overall response rate of 63% and a median duration of response of 12 months, where 39% of patients had already tried a CAR-T cell therapy. The stock projection varied from the low price target of $135 to the high of $200. Skyrizi has also been approved to treat Crohn's Disease, an added bonus and another multi-billion dollar market. Noting the stellar earnings reported by the firm in the first quarter, Richard A. Gonzalez, chairman and CEO of AbbVie, said: An overview of the companys net revenue in Q1 shows a major portion of revenue came from its immunology portfolio, which brought in $6.14bn. I have no business relationship with any company whose stock is mentioned in this article. AbbVie income statement forecast (My table and assumptions). The median. All times are ET. AbbVie, like its parent Abbot Laboratories, is a well-established dividend growth stock. Currently, the company has a "stable" rating, but that must be maintained or investors will perceive the company as unsafe to invest in and that will drag the share price down rapidly. Get 30 Days of MarketBeat All Access Free, Sign in to your free account to enjoy these benefits. What is ABBV's Earnings Per Share (EPS) forecast for 2023-2025? The CEO, speaking at a fireside chat during the conference, commented: we remain well-positioned to absorb the impact from the Humira LOE and quickly return to strong growth starting in 2025. AbbVie is led by CEO and Chairman Rick Gonzalez - likely the only Pharma CEO who lacks a college degree - who has successfully defended Humira from generic drug competition by adopting a controversial strategy of continually applying for new patents related to minor changes in manufacturing methods or administration, often referred to as a "patent thicket". As we can see above one of either Skyrizi or Rinvoq has now been approved for all of the same indications as Humira is, except for Hidradenitis Suppurativa, although Rinvoq is undergoing a Phase study in this indication. GSK Free Cash Flow Forecast for 2023 - 2025 - 2030. With AbbVie seemingly very confident of approvals for all 3 of these drugs, and Gonzalez suggesting they could form the basis of a "$6 billion kind of franchise" I have modelled for such an outcome by 2030. Retail sales were up but so was inflation which meant more volatility for stocks. To date, the company had invested more than $50 billion into research through more than 250 partnerships. AbbVie declared a quarterly dividend on Thursday, February 16th. In the U.S. dermatology segment, where approximately 30% of patients exhibit both skin and joint involvement, Skyrizi is already achieving an in-play patient share of nearly 20%. On average, analysts forecast that ABBV's EPS will be $11.80 for 2023, with the lowest EPS . Free Stock Analysis Report: See The True Value of Any Stock, The Best Strategy For Your Small Trading Account. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. (JPM Healthcare conference presentation), Skyrizi's performance has been particularly eye-catching. Fortunately for AbbVie shareholders Gonzalez and his management team have had many more years than expected to prepare for Humira's Loss of Exclusivity ("LOE"), and it has never been the Pharma's ambition to build its business around a single, all-conquering but time-limited drug. As with debt, if approval and revenue targets aren't met, it can quickly result in a loss of faith in the company. All content of the Dow Jones branded indices S&P Dow Jones Indices LLC 2019 and/or its affiliates. The company didn't offer a . AbbVie has 5 focus areas for its research and products. Nevertheless, AbbVie is clearly under huge pressure to protect its dominance in the immunology markets, and the signs are it has been able to do just that thanks to the launches of 2 new drugs - Skyrizi and Rinvoq. ABBV-916 is therefore a real opportunity for AbbVie to develop a more effective and safer drug in the same class and claim a sizeable share of a 6m patient market. Management has previously stated that it expects total revenues to decline in 2023 following the Humira LOE, followed by a return to growth in 2024, and a "high single digit CAGR" maintained through the remainder of the decade. Our Product Disclosure Statement (PDS) and Target Market Determination provides important information about our products and who our products are more likely to be suited to Capital.com does not provide financial or investment advice and you should seek independent advice if you are unsure of the risks or whether our products are suitable for you. The other major plus is probably the performance of the neuroscience divisions, where as we can see, Botox (indicated for migraine treatment), atypical antipsychotic Vraylar, migraine therapy Ubrelvy and newly launched Qulipta, an oral CGRP inhibitor indicated for chronic migraine all delivered good sales growth. AbbVie discounted cash flow analysis. What is AbbVie's stock price forecast for 2023? Invest alongside the model portfolio or simply access the investment bank-grade financial models and research. Abbvie Stock Forecast 2023 In the Biopharmaceutical Industry, Abbvie has been able to create a leadership position in the market in each business segment with different brand names in different business categories like Immunology, Hematologic Oncology, Neuroscience, Aesthetics, and Eye Care. This has been in spite of a string of macroeconomic headwinds such as the ongoing Russia-Ukraine war that has contributed to record high inflation in the US and the UK, and the companys psoriatic arthritis drug Adalimumab, known as Humira, facing biosimilar rivals in the US from 2023. If youre new to trading, then youve probably heard the wrong thing about optionsthat theyre risky, unpredictable, or difficult. RHHBY vs. ABBV: Which Stock Is the Better Value Option? According to 23 major analysts, AbbVie's Fair Value will fall by 5.43% in the next year, reaching $122.98. And never invest or trade money you cannot afford to lose. Teliso V is an antibody drug conjugate and a c-Met inhibitor. Find the latest AbbVie Inc. (ABBV) stock quote, history, news and other vital information to help you with your stock trading and investing. AbbVie stock is one of the most well-known pharmaceutical companies. The consensus among Wall Street research analysts is that investors should "hold" ABBV shares. Between September 2021 and April 2022, AbbVie stock went on a sensational bull run, gaining 62% and hitting an all-time peak of $174. Outside of Humira, management does not have to worry about LOEs for any of its other portfolio products before the end of the decade, which is encouraging, however, based on my own projections of how AbbVie will generate its revenues between 2023 and 2030, if management wants to drive a CAGR in the high single digits after 2025, it will need some help from its pipeline - not an area of particular strength for AbbVie. As such, I have decreased my own expectations for 2022 based on simply doubling H1'22 revenues to get a FY22 figure, and downgrading growth expectations to 3% per annum until 2026. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Post-spin, AbbVie emerged as a research-based biopharma that has more than doubled in size. AbbVie has a PEG Ratio of 3.51. I also considered the long-term outlook for a company that is still only 10 years old and is about to feel the impact of a loss of patent protection for its mega-blockbuster auto-immune drug Humira, which made $20.7bn of sales for the company in FY21, representing 37% of total revenues generated. What that means is, essentially it will be on formulary with biosimilars, but there won't be any difference between the biosimilar and Humira from a co-pay standpoint or any kind of a step editing. Your current $100 investment may be up to $188.28 in 2028. What is a Good Dividend Yield? Kateryna Onyshchuk/iStock via Getty Images. I/we have a beneficial long position in the shares of BMY, GILD, ABBV either through stock ownership, options, or other derivatives. This means that . I have no business relationship with any company whose stock is mentioned in this article. Armed with management's detailed guidance and commentary on sales performance of key assets and new product launches, however, I have completed sales projections for AbbVie to 2030, which I will share in this post, highlighting areas of strength and potential weaknesses. Their ABBV share price forecasts range from $140.00 to $200.00. This would represent an increase of 1.78%. Over the next nine years, experts believe that GSK's Free Cash Flow will grow at a rate of 1.98%. Since then, however, the stock price has fallen 18% to. The acquisition expanded AbbVies neuroscience portfolio, adding first-in-class modulators of the synaptic vesicle protein 2A, including lead molecule SDI-118 currently in Phase 1b studies. Pharmaceuticals are often valued based on a philosophy of "jam tomorrow" as opposed to jam today i.e. Identify stocks that meet your criteria using seven unique stock screeners.