Canaccord Genuity Reiterates Buy Rating on AbbVie Inc.
Canaccord Genuity maintains its buy rating on AbbVie with a $273 price target, a 12.68% upside from the current price.
Key Points
- Canaccord Genuity reiterated its buy rating for AbbVie Inc. (NYSE:ABBV) with a price target of $273 on June 23, 2026.
- Canaccord Genuity's $273 price target implies 12.68% upside from AbbVie Inc.'s ($ABBV) current $242.28 share price.
- AbbVie shares traded at $231.62 on Tuesday, with a 52-week range of $181.73 to $244.81 and a forward P/E of 14.16.
- Insiders, including Frederick Waddell and William Burnside, bought shares on May 8, 2026, while major funds like Vanguard Capital Management opened new positions.
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On June 23, 2026, Canaccord Genuity reiterated its buy rating for AbbVie Inc. (NYSE:ABBV), setting a price target of $273. The analyst, Gary Nachman, continues to see potential in the biopharmaceutical giant. Shares of AbbVie traded at $231.62 on Tuesday.
Canaccord Genuity vs. the S&P 500
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AbbVie Inc. Stock Down 5.2%
AbbVie Inc., a major player in the healthcare sector, has a market cap of approximately $406.4 billion. The stock's forward P/E ratio stands at 14.16, and it has a beta of 0.309, indicating lower volatility compared to the market. Over the past 52 weeks, the stock has ranged from $181.73 to $244.81. Its 50-day moving average is $211.77, and the 200-day moving average is $220.57.
$ABBV price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
In its latest earnings report, AbbVie posted revenues of $62.82 billion, reflecting a growth of 12.4%. The company reported an EPS of $2.04, with a net margin of 5.8%. Investors are looking ahead to the next earnings announcement scheduled for July 30, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
4 analysts raised price targets.
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EPS & revenue
EPS met estimates. Revenue met estimates.
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Profit surprise
EBITDA missed by 42 percent. Operating income missed by 72 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
4 target raises.
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Earnings quality
Gross margin up 1.9 points. Operating margin up 3.6 points. Positive free cash flow.
Earnings Call Summary
AbbVie delivered strong first quarter results with $15 billion in sales and earnings per share of $2.65, beating expectations. Skyrizi sales hit $4.5 billion with 29 percent growth in psoriasis and inflammatory bowel disease markets. Rinvoq brought in $2.1 billion with 20 percent growth across rheumatology and gastroenterology, and the company is preparing to launch the drug in alopecia areata and vitiligo later this year.
Guidance The company raised full year earnings per share guidance to between $14.08 and $14.28, up $0.12. They now expect about $67.3 billion in total sales for the year. They also raised guidance for second quarter to about $16.7 billion in revenue and earnings per share between $3.74 and $3.78.
Fine but not compelling. Acceptable results that likely do not create a meaningful forward reset.
Insider Buying and Selling at AbbVie Inc.
Several insiders, including Frederick Waddell, William Burnside, and Thomas Falk, purchased 1,118 shares each on May 8, 2026. These transactions were not part of a pre-planned trading program, suggesting confidence in the company's future.
Analysts Set New Price Targets
On June 23, 2026, Canaccord Genuity maintained its buy rating on AbbVie with a $273 price target. Other analysts also hold a positive outlook. For instance, Evercore ISI Group reiterated its buy rating with a $235 target on May 15, 2026. Piper Sandler set a higher target of $298 on May 14, 2026. The consensus among 29 analysts is a buy recommendation, with an average price target of $253.55.
About AbbVie Inc.
AbbVie Inc., headquartered in North Chicago, Illinois, is a research-driven biopharmaceutical company. It focuses on developing and selling medicines and therapies for a variety of conditions, including autoimmune diseases, cancer, and neurological disorders. Led by CEO Robert A. Michael, the company employs around 57,000 people.
Bottom Line
AbbVie Inc. continues to attract positive attention from analysts, with Canaccord Genuity reiterating its buy rating and setting a price target of $273. The company's robust earnings growth and strategic insider buying add to the interest. As always, remember that analyst ratings are based on past data and projections, and investing decisions should consider a range of factors.
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