AbbVie shares trade in the red for seventh straight session
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AbbVie (NYSE:ABBV) shares traded in the red on Thursday, making it the seventh consecutive day of losses. The stock closed down 0.41% at $169.65.
ABBV rose 22.9% in the last 12 months. YTD, the stock is trading up 9.4%, compared to the broader S&P 500 market which is up 25.5%.
Looking at Seeking Alpha’s Quant Ratings, this company has a Hold rating with a score of 3.36 out of 5.
When it comes to Wall Street analysis, 11 out of 29 analysts recommend a Strong Buy, 9 recommend a Hold and 9 recommend it as a Buy.
According to SA analyst Kumquat Research, “AbbVie shares dropped nearly 10% after its schizophrenia drug emraclidine failed in late-stage trials. The market reaction appears excessive and presents a buying opportunity. Dividend yield and robust drug pipeline are bullish going forward.
Seeking Alpha analysts have a Buy rating on the company.