Kevin K. Buckbee, Senior Vice President and Controller at AbbVie Inc . (NYSE:ABBV), recently sold 1,800 shares of the company's common stock. The transaction, which took place on December 16, 2024, was executed at a price of $172.24 per share, totaling approximately $310,032. AbbVie, a prominent player in the biotechnology industry with a market capitalization of $307 billion, has demonstrated strong financial health according to InvestingPro analysis. Prior to the sale, Buckbee acquired the same number of shares through an option exercise at a price of $93.50 per share, valued at $168,300. Following these transactions, Buckbee holds 6,983 shares of AbbVie stock directly. The company has raised its dividend for 12 consecutive years, currently offering a 3.74% yield. InvestingPro subscribers can access detailed insider trading patterns and 8 additional key insights about ABBV's financial performance.
In other recent news, pharmaceutical company AbbVie has seen a series of significant developments. Piper Sandler recently uplifted AbbVie's share price target to $220, maintaining an Overweight rating due to promising outlooks for its drugs Skyrizi and Rinvoq. Meanwhile, AbbVie has announced the acquisition of Nimble Therapeutics for $200 million, aiming to leverage Nimble's expertise in developing treatments for serious health conditions.
The company also completed the acquisition of Aliada Therapeutics, adding ALIA-1758, a potential Alzheimer's disease therapy, to its neuroscience pipeline. TD (TSX:TD) Cowen has named AbbVie as a top pick for 2025, maintaining a positive stance on the company with a buy stock rating. Leerink Partners also upgraded AbbVie's stock to Outperform, citing strong revenue and earnings per share growth.
AbbVie's Q3 revenues reached nearly $14.5 billion, surpassing expectations with an operational growth of 4.9%. The company raised its full-year revenue guidance by $500 million and adjusted EPS guidance to $10.90-$10.94. Additionally, AbbVie reported positive results from its Phase 3 TEMPO-2 trial of tavapadon, a potential treatment for early Parkinson's disease. These are the latest developments in the company's ongoing advancements and growth.
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