AbbVie Reports Record Sales and Earnings Beat, Advances Clinical Pipeline

AbbVie reported stronger-than-expected revenue and earnings per share on Wednesday, February 4th, posting record net sales and providing full-year 2026 guidance that sits above consensus. The company reported $2.71 earnings per share for the quarter, beating analysts' consensus estimates of $2.65 by $0.06.

The company had revenue of $16.62 billion during the quarter, compared to analyst estimates of $16.39 billion. The company's revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the business posted $2.16 EPS. AbbVie had a net margin of 6.91% and a negative return on equity of 4,184.47%.

AbbVie has set its FY 2026 guidance at 14.370-14.570 EPS and its Q1 2026 guidance at 2.970-3.010 EPS. Analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

Shares of AbbVie opened at $231.57 on Friday, extending a two-day climb that left the drugmaker's stock near the top of its intraday range after touching $234.69. About 8.3 million shares changed hands. The company has a market capitalization of $409.28 billion, a price-to-earnings ratio of 98.12, a price-to-earnings-growth ratio of 0.81 and a beta of 0.35. AbbVie Inc. has a 52-week low of $164.39 and a 52-week high of $244.81. The company's 50 day simple moving average is $223.56 and its 200-day simple moving average is $220.85.

On the clinical development front, AbbVie advanced a toxin-based therapy in a Phase 2 ventral hernia trial, which could add a new growth vector if later-stage data are positive. This is incremental pipeline upside beyond core immunology franchises. The company also completed a Korean post-market study that adds supportive real-world evidence for Rinvoq adoption in immunology, reinforcing growth expectations in that franchise.

Management presented at a Piper Sandler immunology symposium, with executives flagging several trial readouts expected later this year. AbbVie pointed to Phase II testing in hidradenitis suppurativa (HS), a chronic inflammatory skin disease, and laid out a stack of readouts it expects through the year. The company also discussed work in inflammatory bowel disease (IBD) and described efforts around oral IL-23 inhibitors (targeting an immune signaling pathway) and CAR-T, an engineered immune-cell approach. The company also touched on the safety trade-offs that can come with stronger immune suppression as trials move into longer follow-up.

AbbVie filed suit challenging HHS/CMS's selection of Botox for Medicare drug-price negotiations under the Inflation Reduction Act. If Botox remains subject to negotiated price controls, that could materially pressure sales and margins for that product; the lawsuit introduces legal and policy uncertainty.

Several research firms have issued reports on the stock. Scotiabank began coverage on AbbVie in a report on Thursday, November 13th, issuing a "sector outperform" rating and a $280.00 price target on the stock. Guggenheim boosted their target price on AbbVie from $227.00 to $242.00 and gave the stock a "buy" rating in a research report on Monday, October 20th. Morgan Stanley upped their target price on shares of AbbVie from $269.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, February 5th. Piper Sandler reissued an "overweight" rating and set a $289.00 target price (up from $284.00) on shares of AbbVie in a research report on Wednesday, November 5th. Berenberg Bank set a $275.00 price objective on AbbVie in a research note on Tuesday, January 20th.

Evercore lowered their target price on AbbVie from $232.00 to $228.00 and set an "outperform" rating for the company in a report on Wednesday, February 4th, signaling that consensus 2026–27 estimates still face scrutiny despite solid results. Citigroup decreased their target price on shares of AbbVie from $235.00 to $230.00 and set a "neutral" rating for the company in a report on Tuesday, January 27th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and nine have given a Hold rating to the stock. AbbVie has a consensus rating of "Moderate Buy" and an average target price of $251.00.

Institutional investors have been active in the stock. State of New Jersey Common Pension Fund D increased its stake in AbbVie by 3.7% in the 3rd quarter, owning 617,051 shares of the company's stock worth $142,872,000 at the end of the most recent reporting period. PNC Financial Services Group Inc. increased its holdings by 5.1% in the third quarter, owning 4,295,432 shares worth $994,564,000. Vanguard Group Inc. boosted its stake in AbbVie by 1.9% in the second quarter, owning 177,298,707 shares valued at $32,910,186,000. 70.23% of the stock is owned by institutional investors.