2 Things About AbbVie That Investors Are Ignoring
Investors were ready for declines in 's (NYSE: ABBV) blockbuster immunology drug Humira. The product now is facing competition in the U.S. So, seeing a 26% drop in Humira's U.S. first-quarter sales wasn't a surprise. And AbbVie has been grooming its newer immunology drugs -- Rinvoq and Skyrizi -- to eventually compensate for Humira and even drive further growth.
That's probably why, when Rinvoq and Skyrizi missed some analysts' forecasts for the quarter, AbbVie shares slipped. Still, it's important to look at the general trend and not focus on just one quarter. And if we do that, there's reason to be optimistic about AbbVie. Let's check out two things investors are ignoring.
Yes, Rinvoq and Skyrizi each missed certain analysts' forecasts. But both drugs still posted double-digit gains in revenue. Rinvoq revenue increased more than 47% to $686 million. And Skyrizi revenue climbed more than 44% to $1.3 billion in the quarter.
Source Fool.com
AbbVie Inc. Stock
The stock is an absolute favorite of our community with 31 Buy predictions and no Sell predictions.
As a result the target price of 180 € shows a slightly positive potential of 3.26% compared to the current price of 174.32 € for AbbVie Inc..
