Stocks are having a quiet morning Monday as investors come off a long holiday weekend with a close eye on peace talks between the U.S. and Iran; a second day of negotiations in Switzerland has reportedly concluded after renewed threats against Iran from President Trump and continued attacks in Lebanon by Israel made for an eventful first day of talks; earnings from FedEx and Micron are on tap this week, along with the release of the Fed's preferred measure of inflation; SpaceX shares are poised to start this week with a third straight day of declines; and shares of Apogee Therapeutics are soaring on news it is being acquired by AbbVie for $11 billion. Here's what you need to know today.
AbbVie has agreed to buy Apogee Therapeutics for about $10.9 billion in cash in a deal that bolsters the biopharmaceutical company's immunology and inflammation portfolio.
AbbVie is reportedly trying to buy a biotech company that is developing a promising atopic dermatitis drug for $10.9 billion in cash, according to a Financial Times report.
I continue to cover AbbVie with a 'Buy' rating due to its R&D achievements. So, in the past 3 months, Decnupaz and Skinvive by Juvederm have received FDA approvals. Moreover, a week ago, AbbVie reported promising results from the Phase 3 CLL14 trial for the treatment of chronic lymphocytic leukemia patients.
In the most recent trading session, AbbVie (ABBV) closed at $216.49, indicating a -2.14% shift from the previous trading day.
Income investors keep coming back to the same playbook in choppy markets: own businesses that have raised their payouts every single year, no matter what the economy is doing.
AbbVie (ABBV) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
AbbVie maintains strong momentum in immunology, with Skyrizi and Rinvoq offsetting Humira declines and driving double-digit revenue growth. I reaffirm a 'Strong Buy' rating, supported by expanding indications for Skyrizi in Crohn's Disease and Rinvoq in alopecia areata and vitiligo. Skyrizi's subcutaneous induction for Crohn's Disease, validated by phase 3 AFFIRM data, targets further market share and revenue acceleration.
For income investors weighing biopharma exposure, the dividend question on AbbVie (NYSE:ABBV | ABBV Price Prediction) just got a lot easier to answer.
AbbVie (NYSE:ABBV | ABBV Price Prediction) has quietly become one of healthcare's most underrated growth stories.
When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?
AbbVie (ABBV) closed at $227.73 in the latest trading session, marking a +1.32% move from the prior day.