AbbVie's on an Acquisition Binge. Could Your Favorite Biotech Stock Be Next?
These days, it seems like biotech buyout offers are falling from the sky. During the week ended Dec. 6, (NYSE: ABBV) announced not one but two big acquisitions.
The pharma giant's latest big buyout offer is for Cerevel Therapeutics (NASDAQ: CERE), a clinical-stage company developing treatments for schizophrenia and other neurological conditions. Despite not having any approved products to sell yet, AbbVie offered Cerevel $8.7 billion in cash, or $45 per share.
AbbVie's offer came in about 22% above Cerevel's stock price when the market closed on Dec. 6 and 73% more than its closing price on Dec. 1.
Source Fool.com
AbbVie Inc. Stock
€172.72
2.930%
With 32 Buy predictions and not a single Sell prediction AbbVie Inc. is an absolute favorite of our community.
With a target price of 180 € there is a slightly positive potential of 4.21% for AbbVie Inc. compared to the current price of 172.72 €.
