What Happened?
Shares of pharmaceutical company AbbVie (NYSE: ABBV) jumped 3.7% in the afternoon session after the company posted strong second-quarter earnings that beat expectations and raised its full-year financial forecast. The pharmaceutical giant disclosed adjusted earnings of $2.97 per share and revenues of $15.42 billion, both numbers surpassing analyst estimates. This performance was driven by robust sales from its immunology drugs, Rinvoq and Skyrizi, which successfully offset lower sales from the company's older drug, Humira. Confident in its momentum, AbbVie lifted its full-year guidance for both revenue and adjusted earnings per share. In response to the strong results, analysts at firms including Morgan Stanley and Raymond James increased their price targets on the stock.
After the initial pop the shares cooled down to $195.11, up 3.3% from previous close.
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What Is The Market Telling Us
AbbVie’s shares are not very volatile and have only had 5 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.
AbbVie is up 8.7% since the beginning of the year, but at $195.11 per share, it is still trading 9.9% below its 52-week high of $216.66 from March 2025. Investors who bought $1,000 worth of AbbVie’s shares 5 years ago would now be looking at an investment worth $2,034.
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