Is AbbVie Stock a Buy Now?
Abbvie (NYSE: ABBV) is currently firing on all cylinders. While the overall stock market has been falling since the beginning of the year, the pharma giant's shares have been northbound, up 17% this year. The drugmaker is even trading at an all-time high. While that's great for AbbVie and its existing shareholders, interested investors might wonder whether now is a good time to buy -- or whether it is best to wait for a lower entry point in price. So let's look into what's going on with AbbVie and decide if it is worth purchasing its shares right now.
Data by YCharts.
AbbVie delivered a strong performance during the fiscal year 2021, which is probably one of the reasons investors have been bidding up its shares this year. Last year, the company's total revenue came in at $56.2 billion, 22.7% higher than the previous year. Most of AbbVie's best-selling medicines saw their sales increase during the year. For example, revenue from immunosuppressant Humira jumped by 4.3% year over year to $20.7 billion.
Source Fool.com
