Why AbbVie Stock Flopped on Friday
's (NYSE: ABBV) products are regularly used to help heal the sick, but the company's stock wasn't healthy for portfolios on Friday. The company published its latest quarterly earnings release, and investors expressed their displeasure with it by selling out of the stock. It declined by more than 4% in price that trading session, contrasting unfavorably with the 0.3% gain of the S 500 index.
For its third quarter, AbbVie reaped just under $15.78 billion in revenue, which was 9% higher on a year-over-year basis. This was led by the company's enviable collection of blockbuster drugs; Skyrizi experienced a 47% increase in net revenue to $4.7 billion, for example, while Rinvoq advanced 35% to generate $2.2 billion for the top line.
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Source Fool.com
AbbVie Inc. Stock
The stock is an absolute favorite of our community with 46 Buy predictions and no Sell predictions.
As a result the target price of 230 € shows a slightly positive potential of 4.12% compared to the current price of 220.9 € for AbbVie Inc..
