AbbVie (ABBV) stock rallied today after the biopharmaceutical company posted its Q4 2024 earnings report. The good news begins with adjusted earnings per share of $2.16 easily beating Wall Street’s estimate of $2.12, even if it’s a 22.58% drop year-over-year from $2.79 per share.
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Adding to AbbVie’s Q4 success is revenue of $15.102 billion surpassing analysts’ estimate of $14.83 billion. This represents a 5.6% increase year-over-year from $14.3 billion. A 4.9% increase in immunology, a 12% growth in oncology, and a 19.8% rise in neuroscience fueled the company’s Q4 revenue jump. However, aesthetics revenue dropped 5.2% during the quarter.
AbbVie investors are excited about the EPS and revenue beats in Q4. That translates to a 5.08% pre-market rally, erasing ABBV stock’s 0.22% drop year-to-date. It also builds on an 8.63% increase over the past 52 weeks.
What’s Next for ABBV Stock?
AbbVie issued its guidance for 2025 alongside its Q4 2024 earnings report. The company expects adjusted EPS for the year to range from $12.12 to $12.32. At a midpoint of $12.22, this would beat Wall Street’s 2025 EPS estimate of $12.13. ABBV notes this outlook excludes the impact of any acquired IPR&D and milestones in 2025 as they can’t be reliably forecasted.
Is ABBV Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for AbbVie is Moderate Buy based on 15 Buy and six Hold ratings over the past three months. With that comes an average price target of $201.37 with a high forecast of $227.00 and a low forecast of $165. This represents a potential 14.64% upside for ABBV stock. These ratings and price targets will likely change as analysts update their coverage after the earnings report.
