The deal removes AGN stock from the exchanges, and those who were long are now long AbbVie (and the combined company). While $95 does not represent all that much upside, it’s still up about 8% from current levels. Nasdaq Further, AbbVie is collaborating on a coronavirus drug. Let’s look at the charts to get a better idea of AbbVie stock. AbbVie had great products, but was too dependent on one lineup in particular. Their price targets stand at $95 and $122, respectively. These healthcare businesses end up falling out of favor at some point, slipping into multi-year funks. With Allergan, it gets product diversity — but it also gets plenty of debt. AbbVie stock broke out in April and the pharmaceutical company just wrapped its acquisition of Allergan. The $63 billion tie-up was agreed upon on June 25, 2019. AbbVie’s blockbuster drug is Humira, where last quarter it drove 54.5% of the company’s total revenue. And why shouldn’t it be? It’s Time to Buy AbbVie Stock Now After Its Allergan Purchase, Matt McCall and the InvestorPlace Research Staff, Click here to see what Matt has up his sleeve now, The 7 Best Semiconductor Stocks to Buy Today, Louis Navellier and the InvestorPlace Research Staff, Trump vs. Biden: Stocks to Buy No Matter Who Wins the White House, 5 High Yield Dividend Stocks Selling Below Their Tangible Book Value, SPI Stock News: Why SPI Energy Is Surging 700% Today, 7 ‘A-Rated’ Aggressive Biotech Stocks to Gamble On, 7 Monthly Dividend Stocks To Buy Now For Safe Payouts. However, analysts at SVB Leerink believe the company will be able to generate free cash flow in excess of $22 billion in each of the next four years. Incidentally, that payout is still at an impressive 5.4%. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. quotes delayed at least 15 minutes, all others at least 20 minutes. While it has patent protection until 2023 here in the United States, the drug lost patent protection in Europe.
© 2020 TheStreet, Inc. All rights reserved. The stock is looking to possibly test 2020 highs. 1125 N. Charles St, Baltimore, MD 21201. A look at the daily chart above highlights the powerful two-day move we discussed above. Allergan shares finished the day up 25% to $162.43. On Monday, two analysts came out with positive commentary and outperform ratings. Shares pay out a 5.4% dividend yield and the business now has a stronger and more diverse lineup. A glance at the chart reveals ABBV flirting with a move over the key $88 level, as well as a rotation over this month’s high. The AbbVie Buyout is Not a Sure Thing for Allergan Stock Investors Unfortunately, Covid-19 makes Allergan stock more of a liability By Josh Enomoto , InvestorPlace Contributor Apr 28, … AbbVie is rallying now that the company has closed its mega-deal with Allergan. AbbVie… © 2020 Verizon Media. On the downside now, investors will want to see $88 act as support. Combine that with a relatively stable business despite the novel coronavirus and ABBV stock is a long-term winner. Below puts the 20-day moving average in play, as well as prior uptrend support (blue line).