Why AbbVie Stock Is Jumping Today
Shares of (NYSE: ABBV) were jumping 7.1% higher as of 11:10 a.m. ET on Friday after rising as much as 9.2% earlier in the day. The nice gain stemmed from the big drugmaker's 2024 fourth-quarter update on Friday morning.
AbbVie reported Q4 net revenue of $15.1 billion, up 5.6% and higher than the average estimate of $14.87 billion of analysts surveyed by Zacks Investment Research. The company posted a loss in Q4 of $0.02 per share based on generally accepted accounting principles (GAAP). However, it recorded adjusted diluted earnings per share (EPS) of $2.16. The average analysts' estimate was for adjusted EPS of $2.13, according to Zacks.
If you're thinking AbbVie's Q4 results weren't spectacular enough to spark such a big jump, you're right. However, there was more to the story with the company's quarterly update.
Source Fool.com
AbbVie Inc. Stock
The stock is an absolute favorite of our community with 37 Buy predictions and no Sell predictions.
As a result the target price of 209 € shows a slightly positive potential of 8.97% compared to the current price of 191.8 € for AbbVie Inc..
