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AbbVie Inc. (ABBV)

NYSE - Nasdaq Real Time Price. Currency in USD
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82.89-1.36 (-1.61%)
As of 10:53AM EDT. Market open.
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Momentum

Momentum

Previous Close84.25
Open83.58
Bid82.95 x 800
Ask82.96 x 900
Day's Range82.79 - 84.14
52 Week Range62.55 - 101.28
Volume2,579,219
Avg. Volume7,063,778
Market Cap146.287B
Beta (5Y Monthly)0.71
PE Ratio (TTM)18.33
EPS (TTM)4.52
Earnings DateOct 30, 2020
Forward Dividend & Yield4.72 (5.60%)
Ex-Dividend DateOct 14, 2020
1y Target Est109.12
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
Fair Value
XX.XX
Overvalued
-12% Est. Return
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  • AbbVie Submits US, EU Rinvoq Applications For Atopic Dermatitis
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    AbbVie Submits US, EU Rinvoq Applications For Atopic Dermatitis

    AbbVie (ABBV) has announced that it has submitted applications to the U.S. Food and Drug Administration (FDA) and European Medicines Agency (EMA) seeking approval for Rinvoq (upadacitinib) for the treatment of adults and adolescents with moderate to severe atopic dermatitis.The atopic dermatitis indication applications to the FDA and EMA are supported by data from three pivotal Phase 3 studies.In all three studies, Rinvoq demonstrated significant improvement in skin clearance and reduction in itch in adults and adolescents with moderate to severe atopic dermatitis compared to placebo.Rinvoq met the co-primary endpoints including at least a 75% improvement in the Eczema Area Severity Index from baseline and a validated Investigator’s Global Assessment for Atopic Dermatitis score of 0/1 (clear or almost clear) at week 16. Additionally, more patients treated with either dose of upadacitinib experienced a clinically meaningful reduction in itch, defined as improvement in Worst Pruritus Numerical Rating Scale.The safety profile of Rinvoq was consistent across the three pivotal Phase 3 studies in atopic dermatitis. No new safety risks were observed in these studies.“While there have been advancements in care, patients with moderate to severe atopic dermatitis continue to experience relentless itch and skin symptoms that can impact their everyday lives,” said Michael Severino, president of AbbVie. “These submissions are an important step forward in our commitment to providing an additional treatment option for those who struggle with this debilitating and often underappreciated disease.”Between 20% to 46% of adults with atopic dermatitis have moderate to severe disease. The range of symptoms pose significant physical, psychological and economic burden on individuals impacted by the disease.Discovered and developed by AbbVie scientists, Rinvoq is a selective and reversible JAK inhibitor that is being studied in several immune-mediated inflammatory diseases. (See Abbvie’s stock analysis on TipRanks).Shares in ABBV are down 5% year-to-date, but the stock scores a bullish Strong Buy Street consensus. The $111 average analyst price target indicates 32% upside potential lies ahead.Citigroup analyst Andrew Baum recently raised the stock’s price target to $105 from $98 and reiterated a Buy rating. Baum believes that the “underappreciated revenue and/or durability” upside from the company’s marketed agents Skyrizi, Rinvoq and Imbruvica offsets the current risk from the recently announced congressional subpoena on AbbVie’s drug pricing practices.Related News: Pfizer Targets FDA Approval For Covid-19 Vaccine In November; Shares Rise Zogenix Rallies 7% On New Fintepla Data For Dravet Syndrome Zynerba Up 6% As Zygel Shows Promise In Autism Trial More recent articles from Smarter Analyst: * Verizon Nabs Microsoft, Nokia For Private 5G Networks * Zions Beats 3Q Profit; Street Says Hold * Kamada To Supply Plasma-Based Covid-19 Therapy To Israel; Shares Surge 6% * Agree Realty’s 3Q Sales Soar 33% On Property Acquisitions